The cryptocurrency markets continued to stabilize after a relatively torrid day on Monday, when most of the coins reached yearly lows. BTC reached the $6350 mark on low turnover, but further selling pressure could mean that the price reduces further. Bitcoin Cash also went down to a yearly low when it traded at just under the $470 mark with turnover, however, increasing dramatically.
Ethereum continued dropping below the $200 level and was even down to the $180s at one point on Monday, after which it showed a slight upward movement to the $195 level. It appears that huge selloffs from ICOs that are based on Ethereum chain have had a considerable effect on the price. Ripple was also down by around 8% to fresh yearly lows of $0.27, and it appears a very long way back for the currency now. Litecoin was also flirting with yearly lows at the $55 level, whilst EOS seemed to be settling at the $5 mark after a short decline to below the $4.90 level.
Other currencies with smaller market caps also seemed to stabilize after considerable declines over the past few days. IOTA was up by 1% to the $0.57 level, whilst Stellar was also up by a similar amount to the $0.19 mark. NEO remained relatively stable at the $18.50 level, whilst ONT was down by just over 1% to the $1.83 mark. ICX declined by about 4% to the $0.61 level, whilst Ethereum Classic was stable in the $11.50 mark or an increase of 3%. Dash was also stable at around the $198 mark, whilst Cardano continued declining by no less than 5% and reached an all time low of $0.07 at press time on Tuesday.
The Genesis protocol upgrade on February 4, 2020 is a monumental step in the history of Bitcoin, and will see BSV returned as close as possible to the original protocol as envisioned by Satoshi Nakamoto. Visit the Genesis Hard Fork page to learn more.
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