Business 6 August 2018Gerald 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.
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