Crypto market daily report – March 12, 2019

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The cryptocurrency markets continued to retrace slightly with most coins reducing in value, although there were some exceptions across the board. Bitcoin Core (BTC) was down by around 1.3% to the $3,874 but seemed well supported at that level on high turnover. Conversely, Ethereum (ETH) retreated slightly at a faster pace to the $133 level on the back of a 2% decrease, which showed that there was some sort of trepidation after the fork. However, the decline has not been so pronounced so far.

Other currencies with larger market caps saw a considerable decline although they remained well supported at certain price levels. EOS was down by around 4% to the $3.58 mark, whilst Litecoin (LTC) was down by a similar 3.5% to just above the $55 mark. Stellar Lumens (XLM) retained the $0.10 level and seemed to be consolidating there before making another beeline for higher prices. Ripple (XRP) settled at around the $0.31 level, whilst Cardano (ADA) appeared to be the only outlier in this sea of read with an impressive 6% increase which took it up to the $0.048 level.

Bitcoin SV (BSV) showed a slight 2% decrease and dropped under the $65 level giving up some of the gains which it had made last week. Other coins with smaller market caps also saw some decline, with ICX particularly hard hit as it dropped by no less than 7% to the $0.32 level. NEO was also down although by a rather miniscule 1% to the $8.70 mark, whilst Ethereum Classic (ETC) suffered a 2% drop to the $4.22 level.

After a spectacular last week, Binance Coin (BNB) continued to perform well by holding on to most of the gains it achieved last week and was at the $14.40 level or stable at press time on Tuesday. Coins such as FET, BCHABC and TRON also saw considerable declines with the former dropping by a considerable 15%, whilst ZRX, HOT and NULS also saw declines ranging from 5% to 7% overall.

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