Business 30 August 2018Gerald Fenech
Crypto market daily report – August 30, 2018
The cryptocurrency market experienced a slight retracement on Thursday morning with most of the Top 10 currencies showing a small decline, although others fell by larger margins—losing most of the gains made earlier in the week. BTC dipped below the $7,000 mark on Thursday morning at press time, although it still had strong support at the $6,900 level. Bitcoin Cash also saw a slight retracement but settled at just below the $550 mark at press time, a 2% decline from the $570 level it reached on Wednesday.
Ethereum remained relatively static, although it did drop by about 3% to below the $290 level at press time on Thursday. EOS was also in the negative, where it lost some of the remarkable gains it made on Wednesday when the price soared to as much as $6.30 at one point. It was trading at around $5.90 at press time on Thursday, although also well supported at those levels. Ripple remained relatively static with a 2% decline to the $0.34 mark on slightly less turnover, whilst Litecoin continued dropping and settled at around $60 for a 3% decline.
Currencies with smaller market caps experienced sharper declines having given away some of the impressive gains made in the past few days. IOTA was down by around 13% to the $0.67 as some profit taking undoubtedly took place, whilst ICX was also down by around 10% to the $0.85 level. NEO experienced an 8% drop and fell below the $20 mark, whilst Stellar fell by 5% to settle at the $0.22 level. Ethereum Classic ceded the $13 level and traded at around $12.80 at press time, whilst Cardano was perhaps the best performing currency where it remained at the $0.103 level or the same level as it was over the past 24 hours. ONT suffered a considerable 10% drop to the $2.44 level, whilst VET was down by around 5% to the $0.0165 mark 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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