Business 22 August 2018

Gerald Fenech

Crypto market daily report – August 22, 2018

The cryptocurrency market continued to show some signs of life on Wednesday morning with BTC increasing by around 5% to top the $6,700 mark. This is undoubtedly a reaction to the announcement that an ETF decision on a particular BTC fund is due on Thursday with the market already priced in for any development.

Bitcoin Cash also showed a good increase when it recovered from a slight dip on Tuesday to rise by 5% and reach the $550 mark—a level that had not been seen since last week and demonstrating that a recovery in this currency was well underway. Ethereum lagged behind the other major currencies with regards to growth, increasing only by around 2% to the $286 level after having dropped to a yearly low of $272 earlier on Tuesday. Ripple also maintained its momentum and touched the $0.34 mark on Wednesday as it held its own after a good surge in the past few days.

EOS also recovered well and was trading at well over the $5.00 mark on Wednesday morning at press time or an increase of around 5%. Litecoin also increased by a similar margin to trade at the $58 level, whilst Ethereum Classic rebounded from its decline on Tuesday to trade at the $13 level yet again at press time. Cardano remained slightly sluggish and was only up by around 3% to flirt around the $10 level, whilst NEO regained the $18.50 level with a surge of around 8%.

Other coins with smaller market caps also showed considerable increases with VET charging ahead by no less than 12% to trade at the $0.015 level. IOTA was also up by around 5% to reach the $0.53 level, whilst Stellar regained the $0.22 mark on a 3% increase. ICX and QTUM were also up by around 3% to trade at $0.65 and $4.35 respectively.

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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