Business

Gerald Fenech

Crypto market daily report – May 22, 2019

The cryptocurrency markets continued their positive trend Wednesday morning as most of the Top 10 were up by a considerable margin over a 24-hour period. Chief amongst these gainers was Bitcoin SV, which, at one point, was up by almost 100% on Tuesday after which it settled at the $110 level or a 75% increase.

Bitcoin Core (BTC) was somewhat languid amongst all this excitement and traded at around the $7,950 mark at press time on Wednesday, although there appeared to be considerable levels of turnover which were supporting the coin.

Other larger market cap coins also performed quite well with Ethereum (ETH) increasing by a solid 5% to trade at around the $257 level at press time. Litecoin (LTC) was up by a more modest 1% to the $91 mark, whilst EOS continued showing signs of revival on the back of a 1.5% increase and was trading at around the $6.30 mark at press time. Ripple (XRP) finally breached the $0.40 barrier again and was by 2% at press time. NEO and IOTA were up by 3% each to $12.20 and $0.41 respectively, whilst Stellar Lumens (XLM) continued to languish at around the $0.13 level. Ethereum Classic (ETC) also demonstrated positive movement and was up by around 1% to the $7.40 level, whilst Cardano (ADA) also showed some similar movement up to the $0.084 level.

Currencies with smaller market caps had somewhat mixed fortunes with several up although some were also down. The chief performer here was Binance Coin (BNB) which continued to scale new heights and at one point was even over the $0.332 level before settling at just under that mark at press time. NEM, TEZOS and ZCASH all declined slightly, whilst Chainlink and Bitcoin Gold rose by 14% and 16% respectively. DASH held on to the impressive gains it made at the beginning of the week and was trading at around $165 at press time, a decline of 2%.

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