Crypto market daily report – May 7, 2019

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The cryptocurrency markets continued to show rises over the past 24 hours with Bitcoin Core (BTC) going up by around 5% to touch the $5,950 mark at press time on Tuesday. However, the real riser of the pack was the second largest cryptocurrency by market cap, Ethereum (ETH), which was up by no less than 11% to reach the $179 mark at press time, and, with turnover rising considerably, it looked poised for further gains in the short to medium term. Bitcoin SV (BSV) remained relatively flat at the $53 level where it seems to have found a bottom.

Although the increase was across the board, some currencies were slower to rise with for example Ripple only exhibiting a 2.5% increase to the $0.305 level. Litecoin (LTC) and EOS practically reversed all the losses of the past few days and were up by 6% and 7% respectively to the $77 and $4.97 levels with the latter appearing primed to move over the $5 mark. NEO also recovered with a 5% increase to soar over the $9.30 level, whilst Stellar (XLM) was up by a more conservative 3% to the $0.098 mark and appeared to be moving towards regaining the $0.10 threshold. IOTA and Cardano (ADA) were also in the green by 5% each to rub off some of the losses of the past few days. 

Smaller market cap coins also saw some considerable increases in some cases. LINK was up by a considerable 18% to the $0.60 level, whilst ZIL and IOST also posted some impressive gains with increases of 9% and 7% respectively. Ethereum Classic (ETC) was also up by around 6% to the $5.90 level with ONT posting a similar gain. ATOM recovered some of its past losses and posted an 8% gain to the $4.95 level, whilst VET and ICX posted similar 5% gains.

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