Business 17 August 2018

Gerald Fenech

Crypto market daily report – August 17, 2018

The cryptocurrency market retained a certain element of stability on Friday morning as most of the Top 10 currencies registered minor increases with some even outperforming others by considerable margins. BTC was up by around 4% to trade at the $6,450 level and was looking to make a push for the psychologically significant $6,800 mark later in the day as turnover picked up momentum.

Bitcoin Cash also showed a positive movement on Friday at press time after having dropped to around the $510 levels for much of Thursday. However, it rose to the $540 mark at press time on Friday and again increased turnover was demonstrating a healthy upward push. Ethereum began flirting with the $300 level again after having dropped to the $280 level on Thursday. Another coin which saw a considerable increase on Thursday was Ethereum Classic, which roared ahead by about 15% to reach the $14 mark but after its listing on Coinbase, it eventually fell back to around the $13.50 level at press time on Friday—a decrease of 5%.

Litecoin was sluggish although it did register a 5% increase on Friday morning at press time to trade at around the $56 level, whilst Ripple finally regained the $0.30 after two days of trading in the region of $0.26-$0.29—an increase of around 8%. NEO was also up by a considerable 9% to trade at the $17.30 level, whilst Stellar began recovering from its slump with a 4% increase to the $0.21 level. EOS and Cardano registered more modest gains of 3 and 5% respectively with the latter touching the $0.10 mark at press time on Friday.

Other currencies with smaller market caps recorded considerable gains. VET was up by a staggering 75% to the $0.014 level, whilst Ontology also shot up by no less than 40% to the $1.96 level, practically recovering all of the losses experienced in the past few days. ICX was also up by a considerable 21% to trade at $0.61 at press time on Friday, whilst IOTA was also up by a more modest 8% to the $0.48 level.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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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