Cryptocurrency markets see subdued trading

August 16, 2018
Chris Wheal

Subdued trading was seen on cryptocurrency exchanges on Thursday, but many digital assets managed some modest gains in a two-day rally that followed a concerted sell off in previous weeks.

Bitcoin and its rivals have made some modest gains in the last two sessions

Indeed, it appeared that lower levels were attracting some buying activity in the last two days as bitcoin – the biggest cryptocurrency by market cap and trading volumes – fell below the key support level of $6,000.

Each time this level has been breached this year, buyers have returned to back sizeable rallies. However, each of these rallies has failed to match the intensity of the previous one.

Having fallen as low as $5,898 two days ago, bitcoin had bounced to $6,400 by Thursday but was beginning to stall.

The rally did not have legs for Stellar’s lumen, however, and number-six in the top 10 cryptocurrencies was the biggest faller during morning trade.

Price round up

Here’s a round-up of the price moves of the top 10 on Thursday at 11am [London time]:

  • Bitcoin +0.3% at $6,403
  • Ethereum +1.9% at $291.48
  • Ripple +1.1% at $0.29
  • Bitcoin cash +1.8% at $527.68
  • Eos +2.1% at $4.74
  • Stellar lumens -4.2% at $0.22
  • Litecoin +0.2% at $56.44
  • Cardano -2% at $0.10
  • Tether -0.2% at $1
  • Monero +0.8% at $90.89

 

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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