After a torrid week, it looks like the cryptocurrency markets are perking up. We have seen a move in the top ten cryptocurrencies with most posting slight gains over the past 24 hours, and turnover also seems to have increased across the board. This lack of turnover has been seen as the major stumbling block for a corrective rally, and although customers on cryptocurrency exchanges have increased by the tens of millions, the amount that they are trading has dropped dramatically.
Bitcoin was up by around 2% from a low of $6,100 to around $6,250 although support levels and turnover were still weak at these price levels. Ether was relatively flat with not much movement although the price settled at around $440 at press time on Friday with a slight increase in turnover pointing to a possible surge upwards later on in the day. Bitcoin Cash was also on the up and touched the $700 mark at press time on Friday.
Another Top ten cryptocurrency, ripple was up by around 3% to retake the $0.44 level although here moves were quite minimal. Litecoin was also up by a similar amount to regain the $77 level with very little turnover and price support at this level. EOS had a good run and was trading at the $7.20 level. Although not one of the top ten cryptocurrencies, Ethereum Classic also posted a strong 5% gain and retook the $16.50 level as it began recovering from its recent slump.
Currencies with smaller market caps also posted some modest gains with NEO rising by about 5% to trade at the $33 level. Stellar was also up by a relatively small 1% to trade at the $0.19 level whilst Cardano posted a 5% gain to trade at around $0.13, IOTA was up by 5% to touch the $1.00 mark whilst Ontology performed better than average to post a strong 6% gain and trade at around $2.15. VeChain was flat at around $2.30 while ICX was set back by about 2% to the $1.36 level.
Jay is pretty interested in the crypto space. He’s written for several publications on the topic and has lots of ideas on how the world can be made a better place with blockchain technology. He’s also a fintech journalist with some years of experience and enjoys writing about new startups, ICO’s as well as any other intriguing news that catches his fancy.