Business

Gerald Fenech

Crypto market daily report – February 28, 2019

The cryptocurrency markets experienced a slight retracement on Thursday after a concerted slide on Wednesday evening, although a recovery remained on the cards. The much-publicised Constantinople hard fork for Ethereum (ETH) which is supposedly to take place later today has undoubtedly spooked investors although so far this was not too apparent in price movements.

Bitcoin Core (BTC) experienced a dip to below the $3,700 mark on Wednesday evening for no apparent reason before it recovered to the $3,800 mark on Thursday morning at press time. ETH also dipped to the psychologically sensitive $130 mark on Wednesday evening, but then recovered to the $137 mark pre-fork on Thursday at press time.

Of the currencies with larger market caps, EOS was the only outlier having increased by around 1.5% to the $3.20 mark, whilst Litecoin (LTC) remained stable at the $45 level. Bitcoin SV (BSV) gave up some of the gains it made over the past 48 hours and dropped by around 5% to the $67 level, although it was still well supported at this price range. Cardano (ADA) was also stable at the $0.0424 mark, with IOTA also at the $0.28 level and not moving at all. BCHABC was relatively stable at the $131 mark.

Currencies with smaller market caps saw some downward movement although this was nothing too substantial. Ethereum Classic (ETC) was down by 2% to the $4.26 level, whilst Stellar Lumens (XLM) also experienced a slight drop to the $0.084 level on rather low turnover. Two big losers were HOT and ONG which decreased by a considerable 56 and 7% respectively. ICX remained stable with a 1% increase, whilst VET was also stable with a minor 0.5% increase.

Other coins such as WAVES, ZIL, NULS and QTUM stayed at relatively the same price of the past 24 hours or saw minor dips of between 1 to 2%.

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