Business 6 August 2018

Gerald Fenech

Crypto market daily report – August 6, 2018

The cryptocurrency market posted a slight recovery on Monday with most of the major coins demonstrating slight increases. BTC was once again over the $7,000 mark having reached the $7,100 level at one point, but it fell back to the $7,050 level at press time. It appears that low volume is somewhat of a concern for stability at this price or a further increase upwards since this is at half the level it was just a few days ago.

Ethereum recovered to the $410 level before dropping down slightly at press time to the low $400s. Bitcoin Cash was also on the recovery phase with a 4% increase and registering a price level of around $710. Ripple remained stable at the $0.43 level with very little movement either way. EOS was playing around the $7 level, but did not seem to have much momentum to move forward.

Other currencies with smaller market caps also saw a slight uptick with Stellar recovering by around 4% from its steep declines of the past days to trade at around $0.24 at press time. NEO was also up by around 4% to the $27 level, whilst Dash also seemed to have recovered somewhat from its yearly low of below the $200 mark when it traded at the $210 level at press time on Monday. Cardano also posted a good increase of around 5% to regain the $0.13 level, although it appeared to be dropping at press time once again.

Litecoin continued its downward spiral after having recovered to around $75 but fell down to the $73 level, although it was trading at around $74 at press time on Monday. VET somewhat stemmed its decline having lost around 80% of its value over the past few days, whilst ICX and IOTA were practically stable with decreases of 2% overall. ONT was quite stable with negligible movement at the $2.25 level.

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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