Business

Gerald Fenech

Crypto market daily report – April 9, 2019

The cryptocurrency market experienced some considerable drop over the past 24 hours although the major currencies were relatively stable with Bitcoin Core (BTC) settling at around the $5,200 level, a relatively minuscule 0.5% drop. Ethereum (ETH) also lost some ground after having reached the $185 mark on Monday afternoon, falling back by around 5% at press time on Tuesday to trade at around the $175 mark. Litecoin (LTC) was also down by around 5% to trade at the $86 level on the back of low turnover, whilst Ripple (XRP) went back to below the $0.35 level or a 3% drop notwithstanding the positive news surrounding the coin’s usage in several countries.

Other coins with relatively large market caps also experienced steep tapering although some suffered more than others. BCHABC was down by 5% to just under the $300 level although it appeared to be well supported in this price range. EOS was down by a relatively more conservative 2% to the $5.40 level, whilst Cardano (ADA) dropped by 7% to trade at the $0.083 level at press time on Tuesday.

NEO experienced a similar drop of around 8% to just above the $12 mark, whilst Bitcoin SV (BSV) was also down to below the psychologically significant $80 mark and was trading at $78.70 at press time on Tuesday. Stellar (XLM) was down by 6% to around $0.1255 at press time.

Smaller market cap coins also experienced considerable drops with a fairly consistent picture once again. Ethereum Classic (ETC) was down by around 8% to the $6.80 level, whilst ICX dropped by a similar 7% to just over the $0.40 mark. IOST, VET, ZIL and QTUM were all down by between 4% and 7%, whilst IOTA fell by a more modest 3% to the $0.345 level. DASH was down by 4% to just over the $130 mark, whilst WAVES, LINK and BAT also experienced drops of between 3% and 9% overall.

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