Just last week, EOS experienced a significant crash that saw 30% of its value cleaved off in less than 24 hours. Between September 23 and 24th, EOS fell from a peak of $3.73 down to just $2.65. However, the cryptocurrency has been on a slow but steady uptick since then, recouping 15% of last week's losses to reach its current value of $2.93.
Although EOS has gained more than 6.5% in the last 24 hours, it's not all celebrations yet. As it stands, the cryptocurrency is still down more than 50% in the last three months, and 20% in the last week, making today's small gains seem almost insignificant.
Regardless, EOS is currently performing better than most, and is the second-best performer among the top 10 cryptocurrencies by market capitalization—narrowly edged out by XRP. EOS has also seen its value gradually improve against BTC in the past six days, increasing from 0.000352 EOS/BTC on September 24 up to today's 0.000375 BTC/EOS.
Part of the reason EOS might be experiencing a slight recovery could be owed to recent expansion efforts by parent company Block.One. Just days ago, Block.One announced it would be investing $10 million into a new headquarters in Arlington County, Va. Although this isn't directly related to EOS, it does show that the underlying company has some cash to spare.
