Business 16 August 2018

Gerald Fenech

Crypto market daily report – August 16, 2018

The cryptocurrency market continued its positive momentum on Wednesday evening and Thursday morning as most of the coins held on to the double-digit gains achieved over the past 24 hours. The star performer undoubtedly was Ethereum Classic, which continued making impressive gains on Thursday, rising by a further 12% to reach the $13.80 mark.

Bitcoin Cash had an excellent increase of about 10% on Wednesday, rising to around $530 at one point. It eventually dropped back to the $510 level at press time on Thursday. BTC came close to $6,600 during the day before falling back to trade at around $6,300 at press time on Thursday.

Ethereum roared back to the $300 mark as noted earlier, although it had gone down slightly to the $286 level at press time—still an increase of 10% overall. Ripple also managed to claw back some of the massive losses experienced over the past days with a solid 12% gain and was trading at $0.288 on Binance although it had even reached the $0.30 mark earlier in the day.

EOS was also up by around 8% over the past 24 hours to settle at around $4.70; whilst Stellar Lumens was trading at around $0.22, a sluggish 4% increase which was below the rest of the market’s performance. Litecoin was also up by around 8% to retake the $56 level, but was still way back from recovering the massive losses made over the past days.

NEO posted an impressive increase of over 15%, although it then dropped back to below the $17 level after some heavy selling in the evening on Wednesday. Cardano was quite sluggish when compared with other currencies as it only increased by about 5% to trade at $0.095 at press time. Other smaller currencies by market cap such as VET and IOTA also began a good recovery from the slaughter of past days when they traded at around 0.008 and 0.46 respectively, representing a 13 and 8% increase.

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.

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