Business

Gerald Fenech

Crypto market daily report – February 20, 2019

The cryptocurrency markets retraced slightly over the past 24 hours with most of the major currencies giving up part of the gains achieved over the past few days. Ethereum (ETH) was down by around 4% to the $141 mark after it had almost breached the psychologically sensitive $150 level. Bitcoin Core (BTC) remained at the same level of Tuesday at just over the $3,900 level on relatively high turnover of $176 million. A considerable outlier in all this was Binance Coin (BNB) which rose by an astonishing 11% to the $10.70 level. BNB has now risen by over 50% over the past week.

Bitcoin SV (BSV) also gave up some of its gains over the past few days and was down by 4% to the $65 level, while Bitcoin Cash (BCHABC) also was down by a similar amount to the $140 level. Another gainer in this dip scenario was Stellar Lumens which went up by 2.5% to the $0.087 mark and looked good to regain double figures again in the near future. The BTT token also lost considerably and was down by 8%, although turnover remained relatively healthy.

Other currencies which achieved substantial gains over the past days remained relatively static, with Litecoin (LTC) stable at the $47.50 level, NEO at $8.90 and WAVES at $2.76. Cardano (ADA) also gave up some of its recent gains and was down by around 3% to the $0.046 mark. Ripple (XRP) remained stable at the $0.32 level having even reached the $0.34 mark over Tuesday before falling back slightly.

Currencies with smaller market caps had mixed fortunes, with EOS remaining stable at $3.58 after rising by over 50% in three days whilst Ethereum Classic (ETC) experienced a not inconsiderable drop of 5% to the $4.47 mark. ONT was down by 7% to the $0.66 level, whilst IOTA increased slightly to the $0.303 level. VET, HOT, ZIL and QTUM all experienced drops of between 3% and 5% as smaller market cap coins succumbed to selling pressure.

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