Business 5 July 2018Gerald Fenech
Crypto market daily report – July 5, 2018
The cryptocurrency markets continued to perform positively over the past 24 hours with almost all the major currencies maintaining the gains of the past day. SegWit BTC coin was trading between $6,650 and $6,700 at press time on Thursday morning—a tight trading range but well supported at this level.
Bitcoin Cash had little movement over the past 24 hours but maintained its position at between the $760 and $770 mark after having increased by around 15% since Monday. Ethereum was also quite stable at the $470 mark, but seems to be gathering momentum for another push towards the $500 level in the coming days.
Ripple was also up by about 2% to trade at the $0.49 level, although it had traded at well over the $0.50 mark on Tuesday after which it experienced a slight drop—although like Ethereum, there seems to be good support at this level. Litecoin also showed a robust performance in the past 24 hours, easily maintaining the $84 level and looks to be making a push towards the $90 level quite soon.
NEO continued to outperform all other top 10 currencies with a15% gain over the past 24 hours to trade at the $42 level at press time on Thursday. NEO has risen by over 40% over the past few days and turnover has also increased dramatically in all exchanges where the coin is traded. EOS maintained its increase of around 3% in the past 24 hours, trading at around $9 at press time although it still dropped slightly below that mark on occasions.
Currencies with smaller market caps also saw positive developments with most of them showing small but consistent gains. Ethereum Classic sailed over the $17 level to trade at around $17.20 at press time, which is a considerable increase over the past 48 hours. Stellar maintained the $0.22 level after having dropped slightly below that at one point, whilst Cardano maintained the $15.20 level with a 3% increase over a 24-hour period. IOTA continued to increase steadily where it touched the $1.18 mark, a 5% increase; whilst Ontology hovered around the $5 mark—relatively stable at that point. Dash was stable at the $245 level, whilst TRON maintained the $0.035 level with very little movement from the main net hype of last week.
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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