Business 26 June 2018

Gerald Fenech

Crypto market daily report – June 26, 2018

The cryptocurrency markets had a good run on Monday afternoon, when most of the major coins were on the rise with several of them registering double-digit increases over the slump of last weekend. BTC was firmly above the $6,200 level after having retraced to the $6,000 mark and then jumped again to $6,300 before going back slightly, but it appeared to be well supported at that level.

Bitcoin Cash (BCH) also recovered well from the general slump and traded at around $745 at press time—an increase of 8%, with a further push to the $800 level not unexpected. News that further exchanges have added trading pairs with BCH are continually making this currency a desirable asset and this will undoubtedly have a positive effect on the price in the medium to long term.

Ethereum was also positive in its movement and settled above the $450 level, an increase of around 8% over the lows of Sunday. As often happens, Ethereum Classic saw a corresponding increase which was much higher than others with an increase of around 15% with the price settling at around $15.70 at press time, having even reached the $16 level at one point on Monday although it retraced back slightly.

Ripple was also up by around 5% to the $0.48 level and looks to be making a charge towards the $0.50 level, whilst EOS also recovered strongly from its disastrous slide to the $7 level and was trading at $8.20 at press time.

The recovery was also seen across almost all cryptocurrencies even the ones with smaller market caps. Stellar Lumens regained the $0.20 level after having dropped as low as $0.17 at one point, whilst NEO began a small climb from its 2018 low of $30 when it was trading at around $32 at press time. Cardano regained the $0.13 level, whilst IOTA was also up over the $1 level. Dash remained relatively stable at around $238, whilst VEChain saw a considerable increase of around 7% to trade at $2.65 at press time. Ontology also registered a good increase of well over 10% to the $5.52 level, whilst Tron stabilized at around the $0.04 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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