Business

Gerald Fenech

Crypto market daily report – June 27, 2019

Wednesday was a red letter day for the cryptocurrency market with several coins experiencing considerable rises across the board until a substantial crash in the late hours of the day wiped out nearly all these increases. SegWitCoin (BTC) was up as much as 20% overall, reaching the $13,800 mark—only to crash to under the $12,000 level.

Ripple (XRP) was also down by as much as 10% at press time on Thursday to the $0.43 mark after reaching the $0.49 level on Wednesday. Ethereum (ETH) also dropped by around 10% after having even reached the $365 level on Wednesday, setting at around the $322 level at press time.

Bitcoin SV (BSV) also took a hammering and was down considerably from a high of $240 on Wednesday to around $210 at press time on Thursday—a drop of 11%, although the coin had crashed below the $200 mark at one point.

Litecoin (LTC) was perhaps the greatest loser with a considerable 12% drop to under the $120 level and was trading at around $118.50 at press time. Another big loser was BCHABC which had sailed over the $500 mark on Wednesday only to experience a steep 10% drop to the $460 level on Thursday at press time.

Other altcoins also experienced considerable declines with Stellar (XLM) dropping below the $0.12 level for a considerable time on the back of a 9% drop to the 0.1159 mark, whilst Cardano (ADA) and NEO also experienced fairly steep drops of around 5% and 7% respectively. IOTA was also down considerably and experienced a 10% fall to the $0.43 level.

Other cryptocurrencies with smaller market caps demonstrated considerable declines with Ethereum Classic (ETC) falling by 11% to the $8.35 level. Other coins which dropped included BNB, TRON, VET, ALGO and EOS with the falls ranging from 6% to 10% overall. The only exception to this bloodbath was Chainlink which continued its impressive and inexorable rise since its mainnet with a 12% increase to the $2.42 level—another all-time high.

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