Business 25 June 2018Gerald Fenech
Crypto market daily report – June 25, 2018
The crypto currency markets began a slight recovery on Monday morning after a disastrous weekend, when BTC dropped below the $6,000 mark for the second time this year and even reached the $5,700 level at one point. However, a rebound began late on Sunday with the price eventually settling around the $6,150 mark on weak turnover.
Bitcoin Cash was not immune to the precipitous drop and even traded as low as $730, but it recovered to the $760 level on Monday with a push towards the $800 level a distinct possibility. Ripple also declined considerably over the past 48 hours, dropping to as low as $0.44 at one point on Sunday before registering a slight recovery to the 0.48 level on Monday.
Ethereum was also considerably down to the $450 level, which is a 2018 low and appeared mired at this level with very little movement. Ethereum Classic showed a considerable increase to the $15 level over the past 24 hours after having dropped to the 13 levels on Sunday. Litecoin returned to sub $80 prices not seen since November and traded as low as $77 before regaining the $82 mark on Monday.
EOS had dropped alarmingly to three-month lows of just above $7 before regaining the $8 mark, although the slew of bad news regarding freezing of users accounts and bugs in the blockchain have taken their toll on investor confidence.
Currencies with smaller market caps also took a considerable beating, with Stellar and NEO testing 2018 lows down to $0.19 and $31 respectively. Dash continued descending down to the mid-230s, whilst Cardano and Iota were also down to the $0.12 and $0.98 levels before recovering to $0.13 and $1 respectively.
Other currencies such as Ontology and VEchain also saw a considerable decline on Sunday dropping by as much as 15% in both cases. However, there was a recovery on Monday with jumps of 23 and 7 percent respectively. Tron remained at the 0.04 mark after having dropped to the 0.035 level on Sunday.
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.
Business 2 hours ago
Consensys announces partnership with LVMH, Microsoft
Consensys has just announced that they are partnering up with the luxury goods conglomerate LVMH and Microsoft for a blockchain-based platform.
Business 3 hours ago
Crypto in Africa: SA backed digital currency, users get a new app
South Africa is looking at developing their own stable coin, and Kudi exchange is looking to expand their services to the continent.
Business 3 hours ago
World Bank, CommBank collaborate to enable secondary bond trading
The World Bank have joined with CommBank to create a first of its kind process that will be able to record secondary transactions on distributed ledgers.