Business 13 July 2018

Gerald Fenech

Crypto market daily report – July 13, 2018

The cryptocurrency markets posted a slight reversal on Thursday evening with most of the major gains showing gains of between 1% and 5%. SegWit BTC was up by around 2% from a low of $6,100 to around $6,250, although support levels and turnover were still weak at these price levels. Ethereum was relatively flat with not much movement, settling at around $440 at press time on Friday with a slight increase in turnover pointing to a possible surge upwards later on in the day.

Bitcoin Cash increased by 3% to settle at the $700 level after having touched a low of $680 over Thursday. News that BCH was being adopted across several payment platforms boosted interest in the currency and this could have been one of the moves behind the price movement upward. Dash saw the biggest increase of all, rising by around 10% to settle at the $225 level after having had quite a dismal week where it lost most of its value in constant dips.

Ripple was up by around 3% to retake the $0.44 level, although the movements here were quite minimal. Litecoin was also up by a similar amount to regain the $77 level with very little turnover and price support at this level. EOS had a good run and was trading at the $7.20 level at press time looking to make further gains over the next 24 hours. Ethereum Classic also posted a strong 5% gain and retook the $16.50 level as it began recovering from its recent slump.

Currencies with smaller market caps also posted some modest gains, with NEO rising by about 5% to trade at the $33 level at press time. Stellar was also up by a relatively small 1% to trade at the $0.19 level, whilst Cardano posted a 5% gain to trade at around $0.13 at press time. IOTA was up by 5% to touch the $1 mark, whilst Ontology performed better than average to post a strong 6% gain and trade at around $2.15. VEChain was flat at around $2.30, whilst ICC was back by about 2% to the $1.36 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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