Business

Gerald Fenech

Crypto market daily report – May 6, 2019

After a relatively positive weekend, the cryptocurrency markets retreated Monday with most major currencies down by single digits. Bitcoin Core (BTC) was down by around 2%, trading at around $5,720 at press time. Ethereum (ETH) was also down by around 3% to the $161 level after having flirted with the $170 mark over the weekend. Ripple (XRP) continued to lose ground and was once again below the $0.30 level, trading at the $0.298 mark at press time.

Other coins with larger market caps also suffered considerable declines with the main three dropping being BCHABC, Litecoin (LTC) and EOS. The former was down by around 4% to the $285 level, whilst LTC suffered an even more precipitous drop of around 6% to the $73 level, and EOS was down by 5.5% to the $4.72 mark. Bitcoin SV (BSV) was also down by around 2% to the $53 mark as selling pressure continued to tell. NEO also exhibited a steep drop of around 7% to the $8.95 level dropping below the $9 mark for the first time since February.

Stellar (XLM) was also down by around 4% to the $0.095 level, whilst IOTA practically reversed all the gains it had made on the back of the Land Rover announcement last week and was down by around 6% to the $0.266 level.

Coins with smaller market caps also saw a rout with several dropping by considerable margins. BAT and MATIC were down by 8% and 9% respectively, whilst Ethereum Classic also practically reversed all the gains made last week and was trading at $5.53 at press time or a 5% decrease. ONT was down by around 6% to the $1.037 level, whilst XMR, QTUM, IOST and ZIL experienced more conservative drops ranging from 4 to 2%. WAVES and DASH were down by 3% and 1% respectively with the latter still holding strong above the $117 mark.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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