Business 3 July 2018Gerald Fenech
Crypto market daily report – July 3, 2018
The cryptocurrency markets began a strong rise on Monday afternoon with almost all currencies in the top 10 showing double-digit gains. SegWit BTC was considerably up when compared to the weekend period when it reached the $6,600 mark on Monday—an almost 6% rise.
Bitcoin Cash posted strong gains with an 11% rise to sail over the $800 mark and reached the $810 mark at press time on Tuesday morning. BCH is showing extremely strong momentum of late and has risen by well over 20% over the past 48 hours, which is encouraging after the sheer drop that it experienced in the past few days.
Other larger cryptocurrencies by market cap also experienced strong gains. Ripple was up by well over 10% to retain the psychologically significant $0.50 level, whilst Litecoin also sailed past the $80 level and was trading at well over the $87 mark on Tuesday morning at press time. Ethereum also showed a considerable increase to trade at around $480 at press time, which represents an 8% increase and a push for the $500 level would not be untoward at this stage since there seems to be positive market sentiment overall.
EOS also seemingly recovered from its recent slump and was up by almost 15% over a 24-hour period to trade at well over the $9 mark with the latest figures registering at around the $9.20 level. However, the most spectacular increase so far as regard top 10 cryptocurrencies was NEO which registered an impressive 20% increase over the past 24 hours to trade at just over the $38 mark—although it’s still way off its 2018 high of $190 achieved in January.
Stellar Lumens also had an excellent increase to around $0.22 after having retaken the psychologically significant $0.20 level on Sunday. Cardano also showed a considerable increase and was up by around 11% on Tuesday morning to flirt with the $0.16 level. This means that ADA has risen by around 35% in 72 hours—an impressive achievement. Other currencies with smaller market cap such as Dash, Ethereum Classic and IOTA also posted strong gains with most ranging from the 7-12% levels.
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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