How EOS and ETH DeFi Made It Through Market Turmoil

On March 11 at 4:56 p.m. UTC, Tedros Adhanom Ghebreyesus, the director of the World Health Organization, stated that COVID-19 can be characterized as a pandemic. Industry experts consider the global uncertainty around this respiratory disease — from travel bans imposed by governments across the globe to the continuing global market turmoil — to be a trigger of the cryptocurrency market’s painful crash.

Most cryptocurrencies saw their biggest 24-hour price drops in a single 24-hour period. The strong downward trend started off around 6:00 a.m. UTC on March 12 and continued until the morning of March 13. Ether (ETH) took a huge 33% hit of roughly $60 by 1:30 p.m., plunging 46.6% overall within these two days. (EOS) covered almost the same numbers, losing 42.42% of its value. The charts of both cryptocurrencies’ price movements are remarkably similar.

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