Business 25 July 2018

Gerald Fenech

Crypto market daily report – July 25, 2018

The cryptocurrency market continued to show positive movements on Tuesday evening and Wednesday morning with most of the coins maintaining their recent increases and others building upon their upward movement. BTC was up by around 8% over a 24-hour period to briefly touch the $8,500 mark before falling back slightly to just above the $8,300 level at press time on Wednesday morning.

Bitcoin Cash kept up with the pace of the BTC bull and traded up as much as 10% to the $870 mark before easing back slightly to register $850 at press time. Ethereum was also up by around 3% to touch the $470 mark, but progress here has been rather sluggish with not much movement either way although the trend has been generally positive. Ripple was also quite stationary with trading oscillating between the $0.45 and $0.46 levels. EOS saw considerable gains, rising to the $8.70 level at one point late Tuesday but fell back to the $8.50 level on Wednesday morning at press time.

After reaching a high of $0.30, Stellar fell back to the $0.29 level on Wednesday, although turnover remained at very healthy levels. NEO was also in positive territory with a 6% increase and a price level of just over the $34 mark. Litecoin pared back some of the gains it made on Tuesday, although it was still up over a 24-hour period by as much as 5% to trade at the $86 level at press time on Wednesday. Cardano also continued a slow rise with a 2% increase to the $0.172 level.

Other tokens had a mixed bag of results on Wednesday, with most were holding on to their gains. Ethereum Classic was basically stable at the $16.50 level, whilst VET which launched Tuesday on Binance started with a 6% decline to the $0.02 level. Dash was also relatively stable at around the $260 level, whilst ONT bucked the trend with a whopping 9% increase to the $3.45 mark. IOTA charged towards the psychologically significant $1 level when it traded at the $0.99 mark at press time. ICX was also up by a modest 2% to the $1.33 level trading at $1.33.

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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