Business 10 September 2018Gerald Fenech
Crypto market daily report – September 10, 2018
The cryptocurrency markets continued to decline steadily after last week’s crash with most of the currencies dropping to yearly lows, although there was a slight recovery on Sunday and Monday morning. BTC dropped to just over the $6,100 level on Sunday but recovered to the $6,400 level during the day, only to fall back to the $6,300 mark on Monday morning at press time.
Bitcoin Cash settled at the $480 level after having dropped to around $460 on Sunday. The internal clashes within the BCH community may have an effect on the price although to be fair, most cryptocurrencies have been severely affected by recent events. Ethereum had an even worse performance and the decline here is even more spectacular with the price dropping below the $200 mark—the first time this has happened since August 2017.
Ripple was also down to the $0.28 level, although it seems to have found some stability at this point from which a rebound could occur. Litecoin dropped to the $0.55 level yet again on Sunday, although it recovered slightly to the $0.57 level on Monday at press time. EOS was the only currency to show some improvement after the drop when it managed to supersede the $5.10 mark on Monday after having dropped as low as $4.50 on Friday.
Currencies with smaller market caps also took a big hit to their values, although some held up better than others. NEO was down to the $18 mark but recovered considerably on Sunday to reach the $19 level, although this was still quite down from the $24 level achieved only a week ago. Stellar was stable at the $0.19 level after having lost another 5% on Sunday, whilst IOTA traded at around the $0.55 mark. Cardano continued sinking to all time lows and was trading at just below the $0.08 level on Monday at press time. Dash bucked the trend with a 7% increase and sailed over the $200 mark to trade at $205 around press time. Ethereum Classic was stable at the $11.20 level after having dropped below $11 on Saturday on low turnover. ONT was up by 4% to the $1.90 mark, whilst ICX registered a slightly smaller 3% increase to the $0.64 mark.
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.
Business 7 hours ago
Lawmakers vote to force Swiss gov’t to adopt crypto regulations
In a landmark moment for Switzerland, the lower house of parliament has voted in favor of a motion that aims to instruct the country’s Federal Council to apply existing financial regulations to cryptocurrencies.
Business 7 hours ago
New committee seeks to aid lawyers representing QuadrigaCX users
The two law firms representing the customers of failed crypto exchange QuadrigaCX have formed a steering committee to help them in the case against the now-shuttered exchange.
Business 9 hours ago
Caspian launches crypto derivative trading
Caspian, a trading and portfolio management platform backed by Galaxy Capital, is starting trade in cryptocurrency derivatives.