Business 14 June 2018Gerald Fenech
Crypto market daily report – June 14, 2018
After the bloodbath earlier in the week, the cryptocurrency markets began Thursday with a slight recovery although they’re still some ways off from the levels reached last week. BTC, which dropped perilously close to the $6,000 mark on Wednesday night, was trading at around $6,500 on Thursday morning,
Bitcoin Cash also posted a good recovery, advancing around 8% to trade at around $870 at press time. A return to the $900 levels would not be untoward although volumes are still quite weak. Ethereum began charging back towards the $500 level trading at around $490 at press time although, as with other currencies, upward movement has been rather slow.
Ripple saw a considerable increase from the lows of $0.52 registered on Wednesday to jump by 8% up to $0.57 on Thursday. The cryptocurrency has had a bit of a torrid time of late but further adoption of the coin for banking purposes could give a boost to the price over a short-term period. Litecoin was also up by around 6% over a 24-hour period to $0.98 and looks to be making a push for the $100 region very soon.
EOS recovered strongly from its 2018 low of around $9.50 to trade at $10.80 at press time on Thursday—a fine 15% increase. There continues to be some uncertainty over the EOS main net launch, which seems to have stalled but a pickup in the markets could cause token owners to be more open with their voting rights.
Coins with smaller market caps were also up across the board with some showing double digit increases. Stellar was up to $0.24—a 6% increase—whilst NEO regained the $40 level, an increase of 8%. Cardano roared ahead with a 10% increase up to the $0.17 level, whilst IOTA was also up albeit by less than 4% overall to $1.26. Dash registered an 8% increase up to $262, whilst Ethereum Classic was the only negative performer from the past 24 hours with a 2% decrease. TRON began recovering some lost ground and was up by over 10% over the past 24-hour period.
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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