Business

Gerald Fenech

Crypto market daily report – May 23, 2019

The cryptocurrency market suffered a considerable setback on Wednesday evening when the vast majority of coins suffered a drop of around 6%. Bitcoin Core (BTC) continued falling and was trading at around $7,600 on Thursday, or a drop of 4%.

Ethereum (ETH) was also down by around 6% and was trading at the $237 at press time. Ripple (XRP) was also down by around 8% and traded at the $0.37 level. Bitcoin SV (BSV) was also considerably down by around 11% to the $93, although it remained well up over the past few days with an average 30% increase after the patent announcement.

Other larger market cap coins also suffered declines with Stellar leading the charge downward and an 11% drop to the $0.12 level at press time. NEO was also down by around 8% to the $11.50 level, whilst EOS suffered a 6% drop to the $5.86 level after having held the $6 mark for weeks on end.

Litecoin (LTC) was also down by 4% to the $87 level, whilst BCHABC also suffered a considerable 8% decline to the $382 level after having traded at well over the $400 mark for most of the week. Cardano (ADA) suffered a steep drop of around 10% to below the $0.08 level, whilst Binance Coin (BNB) was also down although by only around 2% to just under the $31 level—still a rather spectacular increase over the past week.

Currencies with smaller market caps also suffered considerable declines with most of them experiencing large drops. DASH was down by 8% to the $151 level, whilst Monero was down by a similar amount to the $83 level. IOTA slid by over 10% to the $0.37 mark, whilst Ethereum Classic (ETC) was down by 8% to the $6.80 level, whilst ATOM suffered a considerable decline of around 10% to the $4.23 level. ONT, ZCASH and BAT were also down by around 6%-8% respectively, with VET and QTUM dropping 7% and 11% respectively.

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