Business

Gerald Fenech

Crypto market daily report – April 11, 2019

The cryptocurrency markets experienced a considerable retracement in the past 24 hours with all major currencies dropping by the high single digits. Bitcoin Core (BTC) rose to the $5,400 mark late on Wednesday but after settling at just below that mark, it dropped to around $5,150 on Thursday morning at press time. Ethereum (ETH) was also down by around 6% to the $170 level after having risen to the $185 mark on Wednesday. EOS also was back slightly from its Tuesday high, when it had risen to almost the $6 level but decreased by 3% to the $5.60 mark.

Ripple (XRP) continued to decline notwithstanding the positive news surrounding the cryptocurrency and it was trading at around $0.335 at press time on Thursday after having reached the $0.36 mark midweek. BCHABC was also down to the $280 level after having once again topped the $300 mark on Wednesday—a decline of around 6% overall. Stellar (XLM) and NEO experienced considerable drops with almost all the gains made over the past week evaporating into nothing. The former was down by 6% to drop below the $0.12 level for the first time since March, whilst the latter was down by a more considerable 7% to the $11.60 mark, a level also not seen since mid-March. Bitcoin SV (BSV) also experienced a drop of around 5% to close at just above the $76 level at press time.

Smaller market cap coins also experienced a significant retracement with Ethereum Classic (ETC) dropping by a hefty 7% to trade at $6.50 at press time on Thursday. ONT, VET and IOTA were down by around 6 to 7% each, whilst IOST experienced a far larger drop of around 12%. Other coins which suffered significant drops included WAVES, ZIL and QTUM which were down between 8% and 9% in all.

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