Business 29 August 2018

Gerald Fenech

Crypto market daily report – August 29, 2018

The cryptocurrency market continued to maintain the gains achieved on Tuesday with the vast majority of the top coins holding on or even increasing their prices. BTC remained above the $7,000 level, with a price of around $7,050 at press time after having superseded the $7100 mark on Tuesday evening. Bitcoin Cash also registered a positive increase and was up by around 2% to trade at the $560 level, spurred by the positive momentum that prevailed across the markets.

Ripple also maintained the gains it achieved on Tuesday, where it traded around the $0.36 mark or a 6% increase. Ethereum continued creeping steadily but surely up to the $300 mark, where it is expected to make a breakout as more interest from the market returns. Incidentally, the same forecast is being made for Ripple which has been relatively stable over the past few weeks, although it has lost around 80% of its value from its all time high.

Other coins with large market caps also performed well. Litecoin maintained its level above $60 and was trading at around $62 at press time. EOS traded at around $5.90 at press time or an increase of 10%, which was the largest on Wednesday for the Top 10 coins. IOTA continued its charge towards the $0.80 level, where it traded at around $0.77 at press time. Ethereum Classic maintained the $13 level and traded at around $13.10 at press time, whilst NEO retraced slightly below the $21 level after a day of impressive gains to the $20.50 level. Stellar was comfortably above the $0.23 level as it continued building momentum.

Currencies with smaller market cap had a mixed morning with ICX retreating slightly to the $0.91 level after having registered impressive gains on Tuesday. VET was also down by around 2% to the $0.017 level, whilst Cardano was up by a minimal 2% to settle at the $0.103 mark. ONT was correspondingly up by 2% to the $2.72 mark.

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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