Crypto market daily report – May 16, 2019

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Thursday is proving to be an exciting day for the cryptocurrency markets, with the majority of coins reaching their 2019 highs although there were also some outliers. Bitcoin Core (BTC) continued to consolidate at just over the $8,000 level, trading at around $8,050 at press time.

However, the biggest gainer in all this sea of green was Ethereum (ETH), which was up by another 20% to reach the $265 mark as it appeared to have broken resistance at the $250 level, a psychologically important mark for the crypto. The same could be said for BCHABC. which continued rising above the $400 level and was trading at around $422 at press time.

Ripple (XRP) was also on the move upward and achieved a further 5% increase to trade at just over the $44 level on Thursday. Bitcoin SV (BSV) was another spectacular gainer and was up by a considerable 12% to the psychologically significant $70 mark as turnover and volume continued to increase exponentially.

Another top 10 currency that continued to perform well this week was Litecoin (LTC)—it was up by no less than 11% to breach the $100 level for the first time in almost a year. EOS was also up by a similar amount to the $6.70 level, whilst Stellar Lumens (XLM) was perhaps the best performer here with a considerable rise of 25% to the $0.15 level—a mark not seen since August 2018. IOTA also continued its forward charge and was up by no less than 14% to the $0.42 level, whilst Cardano (ADA) was also up by 11% to the $0.095 level.

Currencies with smaller market caps also saw considerable increases across the board with Ethereum Classic (ETC) the main gainer on the back of an astonishing 22% rise to the $8.04 level. Increases were also healthy across the board with ATOM, BAT, VET and ONT gaining considerably with the increases varying from 6% to 10% overall. WAVES and NANO were up by over 11%, whilst QTUM rose by a considerable 19% to the $3.38 level.

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