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Saturday, August 25: cryptographic markets are showing a bullish signal of a persuasive recovery. Practically all the first 100 cryptocurrencies are in the green today, with solid growth between 1 and 4% among the top 10 largest coins by market capitalization, as shown in the Coin360 data.
Market Display by Coin360
Bitcoin (BTC) is trading at around $ 6.696 at the time of printing, up about 2.5 percent on the day, according to Cointelegraph's Bitcoin price index. The best currency has seen several days of strong recovery from its strong plunge on 22 August in the wake of strengthened anti-cryptic measures in China and a new series of disapproval orders for several securities traded on the stock exchange (ETF) by the US Securities and Exchange Commission (SEC).
However, the alt still has to recover the price of $ 300 – which held on 20 August last – and saw an impetus towards Higher-than-moderate Bitcoin in recent days Ethereum is down 2.8% a week, losses are 40.6% in the month
7-day price chart of Ethereum Source: Ethereum Cointelegraph price index
Among the top ten mo nets by market capitalization, Stellar (XLM), Bitcoin Cash (BCH), Cardano (ADA) and Ripple (XRP) recorded gains of around 1.5 – 2.5 percent in the day.
Litecoin (LTC) and Monco (XMR) anonymised are also recording strong growth, both of which are 2 percent higher at exchanges around $ 58 and $ 93 at the time of the press respectively: Litecoin has practically closed the losses mid-week and earned a gain on its weekly chart:
Litecoin's 7-day price chart. Source: CoinMarketCap
Among the top twenty coins on CoinMarketCap, IOTA (MIOTA), VeChain (VET) and Zcash (ZEC) record the strongest recovery of the day, respectively of about 6.6, 8.7 and 4.9 % [19659007] The total market capitalization of all cryptocurrencies amounts to about $ 217 billion at the time of the press, vying to recover its mid-week high of $ 221.7 billion and nearly $ 13 billion from its peak at $ 204.3 billion on August 23rd.
7-day chart of total market capitalization of all CoinMarketCap cryptocurrencies
Mid-week, markets have seen a fall similar to the one that came in response to the July news that the Winklevoss twins are high profile BTC's proposal of the ETC was also rejected by SE C, which saw a draw of 12 billion dollars swept away by total market capitalization.
The fall however proved temporary in the immediate-short term. As the encryption analyst Brian Kelly has argued on CNBC this week, the fact that the "market has not vanished" on the news of the most recent rumors of the ETF is a bullish signal of "change of feeling" that suggests that many still expect that we are coming "incrementally" closer "to any ETF approval.
This was reinforced by the news that the SEC plans to revise its new wave of waste. # 39; ETFs, as well as items within the agency – particularly the SEC Commissioner Hester M. Peirce – who officially disagreed with the previous ETF rejections to the BTC regulator
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