Business 28 August 2018

Gerald Fenech

Crypto market daily report – August 28, 2018

The cryptocurrency market continued its recovery on Tuesday morning with a considerable boost in several of the Top 10 coins. BTC rose by 3% to breach the $6,900 mark, where it seemed to have settled at press time on Tuesday. The news that Mt. Gox creditors would begin receiving some of their money back could have had a positive effect on the price of the largest cryptocurrency by market cap.

Bitcoin Cash also saw a considerable rise which was more pronounced and of around 7% to settle at the $550 level at press time. Ethereum was also up by around 8% to settle at the $285 mark and appeared to be making a push towards the $300 level—a mark it has not seen for some weeks now. Ripple was also up by around 6% to settle at the $0.34 level at press time on Tuesday, a good increase which came on the back of considerably higher turnover.

Other currencies within the Top 10 also saw considerable increases with EOS registering a 5% increase to the $5.35 mark. However, the star of the show appeared to be IOTA, which saw a whopping 17% increase to add to the 15% increase on Monday to breach the $0.70 level at press time on Tuesday. NEO also saw a considerable increase of around 11% to breach the $20 level—a mark it also has not seen in weeks. Litecoin sailed over the $60 mark, psychologically important price level with a 4% increase at press time on Tuesday; whilst Ethereum Classic appeared rather staid with only a 1% increase to the $12.70 mark. Stellar was also rather sluggish with only a 3% increase to the $0.23 level, although that was also a price mark not seen since the beginning of August.

Other currencies with smaller market caps had mixed fortunes with ICX pausing from its meteoric rise of the past days to settle at the $0.92 level or a slight 2% decrease. Cardano was up by 6% to the $0.10 level, whilst ONT registered a more moderate 5% increase to trade at the $2.66 level at press time.

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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