Crypto market daily report – May 3, 2019

The cryptocurrency markets demonstrated some good movement on Friday morning with Bitcoin Core (BTC) breaching the $5,600 mark briefly on the back of high turnover. However, that positive movement of around 3% was not actually replicated in other currencies which continued showing signs of slow momentum. Ethereum (ETH) was up by around 2% to the $164 level, whilst Ripple (XRP) was practically flat at just over the $0.30 level. Bitcoin SV (BSV) was also up by around 2% to touch the $55 level on the back of increased interest and turnover.

Other coins with larger market caps also demonstrated slight gains with BCHABC up by around 2% to the $275 level, whilst Litecoin (LTC) was up by around 3% to the $75 level. EOS rose by a similar percentage and seemed to be touching the $5 level quite soon where it was trading at around $4.90 at press time on Friday. NEO was up by around 2% to the $9.95 level and was poised to break the $10 mark at any time. Conversely, Stellar Lumens (XLM) was rather flat at just over the $0.10 mark on the back of a 0.7% increase. Cardano (ADA) was up by around 4% to the $0.071 level, whilst IOTA continued languishing after its massive rise at the beginning of the week on the back of its partnership announcement with Land Rover and was trading at around $0.286 at press time on Friday.

Currencies with smaller market caps had mixed performances with most registering good increases although others fell behind. Amongst the best performers were ATOM and QTUM, which were up by 9 and 7% respectively, whilst BAT, MATIC and FET all dropped with their decreases ranging from 2% to 9% respectively. Other coins that showed positive movement were Ethereum Classic (ETC) which was up by around 1% to the $5.85 level, and Binance Coin (BNB) which continued recovering from its recent slump and was trading at around $23.90 or an increase of 7% at press time on Friday.

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