Business

Gerald Fenech

Crypto market daily report – May 9, 2019

The cryptocurrency markets continued their slow decline on Thursday although there was one considerable outlier in the shape of Bitcoin Core (BTC), which continued charging ahead and actually surpassed the $6,000 mark for the first time in well over seven months. The world’s largest cryptocurrency was trading at around $6,100 at press time, while Ethereum (ETH) remained relatively flat after its mini bull run earlier in the week and retained the $170 level or a 1% decrease.

Other cryptocurrencies with larger market caps also posted declines with Ripple (XRP) once again dropping below the $0.30 mark on the back of a 1% decrease. BCHABC was also down by around 1% to the $286 level, whilst Bitcoin SV (BSV) was another outlier as it was up by around 2% to the $56 level with increased turnover and interest. EOS also declined by around 1% to the $4.90 level, whilst Litecoin (LTC) was flat at the $74.50 mark. Cardano (ADA) continued losing ground to the $0.062 level or a 3% decrease, whilst NEO was down by 1.5% to the $8.85 mark. Stellar (XLM) also continued dropping and registered a 3% decline to the $0.09 mark, whilst IOTA was flat at the $0.275 level.

Currencies with smaller market caps also saw declines with some cases being rather considerable ones. ATOM continued dropping and at press time on Thursday it was down by around 7% at the $4.18 level, whilst FET suffered an even bigger drop where it was trading down by an impressive 10% mark. Ethereum Classic (ETC) was stable at the $5.70 level, whilst BAT continued its inexorable decline where it dropped by another quite massive 8% to the $0.305 level. There were outliers however with WAVES, LINK and VET rising by between 4 and 6% respectively. QTUM and NANO also showed relatively positive movement upward by around 1-2%, whilst ICX, CELR, MATIC and ZIL were down with the declines varying between 2% and 7%.

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