Business 9 November 2018

Gerald Fenech

Crypto market daily report – November 9, 2018

The markets were in a considerably duller mood over the past 24 hours as practically all major currencies gave up some of the gains achieved over the past week. BTC dropped below the $6,500 mark on Binance, although it seemed to be holding well on relatively low turnover. Bitcoin Cash also retreated slightly by about 2% to the $590 mark, remaining in second place as regards turnover.

Ripple continued declining by about 1% to the $0.51 mark, once again giving away most of its gains over the past week. It seems that rumours regarding a participation with SWIFT were just those—rumours. Ethereum also gave away some of its gains although the decline was relatively insignificant at just around 0.5%. Litecoin continued declining to the $53 level—another 2% drop.

The only currency which saw some positive movement was Stellar—it jumped around 6% to the $0.27 mark, whilst Cardano held on to the $0.077 level. NEO remained static at around $16.50, whilst Ethereum Classic also showed a small increase of around 1% to the $9.64 mark. EOS remained stuck at around the $5.56 level, whilst TRON was down by 1% to the $0.023 level.

Other larger currencies by market capitalization also saw slight declines. Dash was hovering around the $170 level on the back of the recent announcement that it will be moving forward on a Venezuela project where cryptocurrency can become available via SMS. ZCash was also static at around the $130 level, although it receded by far less than other currencies.

Coins with smaller market caps were either static or in decline. Binance Coin was down by around 1% to the $9.71 level, whilst IOTA also declined by a similar amount to below the $0.50 mark. ONT and VET remained static, whilst QTUM and NULS showed very small declines of around 1% with the rest of the market quite static.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB 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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