Crypto market daily report – July 20, 2018

Getting your Trinity Audio player ready...

The cryptocurrency market was stable on Thursday evening before experiencing a dip when the Asian markets opened, although not all currencies were down by similar margins. BTC held relatively steadily and continued to trade between the $7,350 and the $7,500 level with the past few hours seeing a slight increase in the price. Turnover also remained relatively stable at between $300 million and $350 million mark.

Bitcoin Cash experienced a slight pull back to below the $800 level and even went as far as the $760 level, but the currency then experienced a mini rally with the price settling at just under the $800 mark on Friday morning. Ripple continued to decline, however, and was trading at the $0.45 level—this was a decline of around 10% over the past 48 hours when the price reached the $0.51 level. Litecoin also experienced a pullback to the $83 level, but started a recovery and was trading at $85 at press time on Friday morning.

Ethereum also dropped to the $450 level before regaining the $460 mark, a relatively minor decline of around 2%. EOS continued to lose ground in the late hours of Thursday, when the price even fell below the $8 mark but eventually, Friday saw a recovery where the level of $8.30 was once again reached. NEO dropped considerably to the $33 level before rebounding slightly and touching the $35 level at press time; whilst Ethereum Classic experienced a pullback to below the $17 level before rebounding slightly to that level at press time on Friday.

Stellar and Cardano lost some of the big gains that they had experienced in the past 48 hours, with the former dropping 5% to below the $0.30 level whilst the latter was relatively stable after having declined considerably on Thursday to settle at the $0.18 level. Still, this was a 30% rise over the price on Monday. Dash was the only outlier in this negative trend with the price rising by around 7% to the $280 level.

Other altcoins with smaller market caps suffered considerable losses with VEChain down by 14% at press time to $1.66, whilst ICX was down by 9% to the $1.40 level. Ontology and IOTA experienced slightly less precipitous drops of around 5% trading at $3.48 and $1, respectively.