Business

Gerald Fenech

Crypto market daily report – May 24, 2019

The cryptocurrency markets experienced a slight recovery on Thursday and Friday morning, with most coins up by small margins. Bitcoin Core (BTC) was up by around 3% to the $7810 mark, and appeared well supported at this level, although turnover was in decline.

Ethereum also experienced a similar rise of around 3% to the $243 level but was well below its high of $270 only a few days ago. Bitcoin SV (BSV) retained the $98 level after a slight pushback, but was still well supported at this mark.

Other cryptocurrencies with larger market caps also showed some positive movement upward. Ripple was up by 2% to the $0.376 level whilst Bitcoin Cash (BCHABC) was also up by around 4% to the $396 mark. Binance Coin showed resilience and once again demonstrated a bullish trend to rise by 5% to the $32 mark having only lost slightly in the recent pullback. EOS was up by 3% to the $6 level whilst Litecoin also increased by a similar margin to the $89 mark on the back of a 3.5% increase and appeared to be moving towards the $90 level sooner rather than later.

Cardano was also up by a rather healthy 4% to the $0.787 level whilst NEO rose by a more conservative 2% to the $11.20 level. Stellar was also up by 2% to the $0.122 level whilst IOTA recouped some of its recent losses to trade at the $0.384 level or a 4% increase.

Currencies with smaller market caps also had a generally positive experience overall with THETA leading the way on the back of a 34% increase and a $0.136 price level. Ethereum Classic was also up by 4% to the $7 mark whilst WAVES also showed considerable momentum to trade at the $2.98 level at press time on Friday. BTT was up by an impressive 21% whilst MATIC and CELR ceded some of the huge gains made over the past days with decreases of 22% and 13% respectively.

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