Business 23 July 2018Gerald Fenech
Crypto market daily report – July 23, 2018
The cryptocurrency markets continued its revival over the weekend and on Monday morning, although there was a different path as far as SegWit BTC and other virtual currencies were concerned. BTC was up by around 5% overall on Monday at press time to a figure of $7,650 with a further push towards the $7,800 mark not unexpected, although there’s a massive resistance at this point.
Bitcoin Cash was up by around 5% to trade at the $820 level at press time on Monday with a further push expected. Ethereum appeared slightly sluggish and did not move at all, with only a slight increase of around 1% to the $466 level with very little movement either way. The same could be said for Ripple which recovered the $0.46 mark or an increase of 2%. EOS was also on the rise, although again at a slightly slower pace than BTC but was trading at around $8.30 at press time.
Currencies which had seen big gains over the past week also performed well over the weekend and on Monday. Stellar Lumens rose by around 8% on Sunday and by a further 4% on Monday to trade at over the $0.30 level, whilst Cardano rose by around 7% to reach the $0.18 mark. NEO was still slightly sluggish and only posted a minimal 1% increase over the previous 24 hours to settle at around $34. Litecoin was also up by around 3% to settle at the $85 level with a push for the $90 level not out of the reckoning if turnover levels persist.
Ethereum Classic was sluggish with a 2% rise to settle at the $16.60 level, whilst VEN and ONT remained relatively stable in the $1.83 and $3.23. There was little movement in other coins with smaller market caps with IOTA up 2% to the $1 level again, whilst ICX registered a similar 2% rise to the $1.39 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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