Business 24 July 2018

Gerald Fenech

Crypto market daily report – July 24, 2018

The cryptocurrency market continued its recent trend of the past few days with most of the Top 10 cryptocurrencies experiencing slow declines whilst BTC continued rising. In fact, as at around 9 a.m. CEST, price of BTC exceeded the $8,000 mark on Binance, the first time in two months and was trading at around $8,027 with turnover exceeding the $360 million mark.

Bitcoin Cash was one of the rare exceptions to also see a positive trend in the past 24 hours, when it was up by roughly 5% to trade at $852 at press time on Tuesday. Ethereum also posted a slight increase of around 3% to trade at the $470 level at press time on Tuesday. Ripple was basically at the same levels it traded at on Monday, oscillating between the $0.45 and $0.46 levels no doubt bogged down by the bad news coming out of the U.S. Securities and Exchange Commission (SEC).

EOS began a recovery after having dropped below the $8 mark on Monday, but was up by around 3% to trade at the $8.15 level on Tuesday morning. Litecoin also showed a positive tendency and was up by around 4% to trade at almost $88 on Binance, although there appeared to be some strong resistance at the $90 level.

Smaller cap coins had a mixed performance although the general result was a slight down ward trend. Stellar Lumens was trading just below the $0.30 level on Tuesday morning—a decrease of around 2%—whilst NEO was stable t around $34 at press time. Ethereum Classic gained around %5 and traded at $16.0 after having dropped below the $16 mark on Monday. IOTA slipped below the $1 mark and was trading at $0.97 at press time, whilst Cardano experienced the steepest drop of all alts with a 5% decline over 24 hours to the $0.17 level. ICX was down 6%, whilst ONT experienced a 3% drop to trade at $3.20. Dash saw a minor 3% rose to the $244 level, although low turnover could mean that a drop is on the cards.

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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