Business 2 July 2018

Gerald Fenech

Crypto market daily report – July 2, 2018

The cryptocurrency markets established a stable regime over the weekend after having jumped by a considerable margin on Friday evening. SegWit BTC coin led the charge with an 8% increase overall, settling at around the $6,300 region after reaching $8400 on Saturday. According to market analysts, the price seems to have bottomed out accordingly at around $5,800, although there are some commentators who still maintain that BTC may test the $5,000 mark yet again in the near future.

Bitcoin Cash (BCH) staged a fine recovery, rising by about 11% to touch the $750 mark on Saturday before dropping back to the $730 level on Monday at press time. News that BCH is far more profitable to mine can have been the main reason behind the jump although the currency had been showing signs of a rebound for some time.

Ethereum also recovered by around 10% from Friday’s lows where it was perilously close to the $400 level before recovering to around $450 at press time on Monday. Ripple was also up by around 6% over lows of $0.42 to trade at $0.46 at press time on Monday. Litecoin briefly retook the $80 level on Saturday, but then fell back by around 2% to trade in the $78 range on Monday at press time.

EOS posted a good recovery to rise by about 11%, regaining the $8 level after having fallen as low as $7.20 on Friday. Cardano posted an increase of around 20% from Friday to Sunday and touched the $0.14 level to maintain that price at press time. Tron remained relatively stable at around the $0.0365 level although the main net generated a lot of interest. Dash seemingly recovered to the $240 level or an increase of around 5%, whilst Ethereum Classic was also in positive territory, trading at around $16 at press time—a 4% increase.

Stellar Lumens increased by around 2% to the $0.20 mark, whilst NEO stabilized at around $30 after having dropped as low as $27 on Friday. Other coins such as VEChain and QTUM recorded steady gains of around 5%, whilst IOTA sailed past the $1 level to record a 5% increase, trading at around $1.05 at press time.

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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