Business

Gerald Fenech

Crypto market daily report – July 9, 2018

The cryptocurrency markets maintained the slight gains achieved over the weekend, although there was a small retracement on Monday morning at press time. After having reached the $6,800 level on Sunday, SegWit BTC retreated to the $6,700 level but appeared to be stable at that price point with not much signs of a downturn so far.

Bitcoin Cash was hovering around the $750 level after having gone as high as $780 on Sunday although again, there was very little movement either way on low turnover. Ethereum maintained the $780 level after having gone as high as $492 at one point but retreated slightly also on low turnover.

Ripple did not move much either, and news of a third lawsuit for the beleaguered cryptocurrency meant that it did not participate that much in the rise over the past few days, although it did go over the $0.50 level at one point. EOS was also up slightly over the weekend after having ceded the $9 level, but was trading at around $8.60 at press time on Monday morning.

Litecoin was also in recovery mode over the weekend having reached the $84 level at one point but after appearing to make a push towards the $90 mark, it fell back to the low $80s, trading at around $82 at press time. NEO also made considerable gains over the weekend when it rose to the $41 level at one point on Sunday but once again, selling pressure forced it to fall back to the $38 mark on Monday at press time.

Ethereum Classic continued to be the star performer of the cryptocurrencies with smaller market cap, where it traded at well over the $18.50 mark on Sunday and maintained that level on Monday at press time. Stellar was also on the rise showing an 8% gain over Sunday when it settled at around $0.215 on Monday, whilst other cryptocurrencies such as Cardano and IOTA were relatively stable at $0.145 and $1.08, respectively. TRON continued to perform sluggishly, trading at around $0.035 with the post mainnet period being quite dismal for the cryptocurrency. Dash was also relatively stable at around the $235 level.

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