Business 1 June 2018Gerald Fenech
Bitcoin Cash looks to break barriers as adoption continues
The cryptocurrency market entered Friday on a stable note, with most of the larger digital currencies holding on to the gains made over the past few days barring a few exceptions. BTC remained static, hovering around the $7,500-$7,600 range and appeared to be well supported at that level. There have been speculations that NASDAQ and other stock exchanges might be turning to cryptocurrencies in the not too distant future, considerably increasing the market’s turnover.
Bitcoin Cash has been holding well above the $1,000 mark, looking to break further barriers as it continued to be adopted across various platforms. It’s only a matter of time before BCH moves forward and begins targeting the highs it had reached in previous months.
Ethereum was also stable but it gained around 2% to trade at $580 at press time. The currency has recovered from its recent slump and looks to be moving forward to the $600 mark if a bull run begins.
Ripple continued to be in the news with several more agreements being signed with major international banks, although that did not have much effect on the price again. In fact, Ripple was stable at around $0.61 with support at that level, but movements appeared to be very slow to say the least. Litecoin was also stable at the $120 mark, although this price has been held for the past few days with not much movement here either.
Smaller currencies by market cap were generally positive. IOTA charged forward with an impressive 28% increase—largely due to its listing on the Binance exchange as interest in the cryptocurrency increased. Stellar Lumens was also considerably up and was flirting with the $0.30 mark at press time, whilst NEO appeared relatively stable at the $0.53 mark with further pushes upward expected in the short to medium term.
With its main net approaching, EOS ceded some of its gains over the past hours although it still maintained the $12 mark quite well. Some exchanges have disabled trade in this cryptocurrency until the process concludes so there might be less volatility in the price over the next few days. Dash was also stable at around the $305 mark, whilst Ethereum Classic held on to the $15 mark quite well. Cardano also maintained its growth of the past few days with a 3% increase to around the $0.22 level.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.
Business 2 hours ago
Consensys announces partnership with LVMH, Microsoft
Consensys has just announced that they are partnering up with the luxury goods conglomerate LVMH and Microsoft for a blockchain-based platform.
Business 2 hours ago
Crypto in Africa: SA backed digital currency, users get a new app
South Africa is looking at developing their own stable coin, and Kudi exchange is looking to expand their services to the continent.
Business 3 hours ago
World Bank, CommBank collaborate to enable secondary bond trading
The World Bank have joined with CommBank to create a first of its kind process that will be able to record secondary transactions on distributed ledgers.