Business

Gerald Fenech

Crypto market daily report – March 5, 2019

The cryptocurrency markets remained in static mode across Tuesday with the main actors losing some of their price although there were some notable exceptions, Binance Coin (BNB) in particular. Bitcoin Core (BTC) continued dropping and was trading at around $3,720 at press time, a 0.65% decline over Monday at press time.

The same could not be said of BNB, however, since this coin saw a meteoric rise of around 15% to touch and even exceed the $13 mark on Tuesday at press time. There does not seem to be any reason behind this immense spike, although there has been a lot of positive news of late especially with regard to the exchange’s continued listing of new coins which eventually shoot up in prize. A case in point is FET which jumped by 30% just after it listed, although now it is down by around 15% after last week to the $0.32 mark.

Bitcoin SV (BSV) was another coin which showed positive movement and jumped against the trend. The coin was up by around 4% to the $65 mark recovering well from its monthly low achieved on Monday. Bitcoin Cash (BCHABC) remained relatively static at around $125, although it was down by around 0.5% at press time on Tuesday.

Ethereum (ETH) remained stable at the $127 level although there could be a push downwards eventually as selling pressure begins to tell on the coin especially in the post Constantinople fork scenario. Ripple (XRP) and Litecoin (LTC) lost ground slightly with the former down by 0.5% and the latter down by almost 1% to the 46 level, although it appeared to be well supported at that price point.

Cardano (ADA) and Stellar (XLM) also lost some ground with both coins down by around 1.5% at $0.041 and $0.082 respectively. EOS also continued losing ground and was down by a further 1.6% on Tuesday, whilst other currencies with smaller market caps such as Ethereum Classic (ETC) and NEO saw similar declines. BAT, LINK and NULS were conversely, in positive territory with the latter showing a 7.5% jump.

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