Business 9 July 2018

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.

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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