Crypto Markets See Solid Upswing as SEC Promises to Review Recently Rejected Bitcoin ETFs

Friday, August 24: crypto markets have seen notable growth today, with all but one of the top 40 cryptocurrencies by market cap solidly in the green, according to data from Coin360.

Market visualization from Coin360

Bitcoin (BTC) has seen solid growth, having surpassed the $6,600 price point, starting the day just over $6,400. The leading cryptocurrency is up around 3 percent over the past 24 hours, trading at $6,624 at press time.

August 22 Bitcoin plunged from above $6,700 to under the $6,400 price point, following news of new anti-crypto policies in China, as well as another series of application denials for several Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).

According to CoinMarketCap, Bitcoin and VeChain (VET) are the only two cryptocurrencies among top 20 coins by market cap that have seen some gains over the past 7 days, with Bitcoin up just 1.43 percent.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index

The top altcoin Ethereum (ETH) is up about 2.7 percent today, trading at $280 at press time. Following a markable downward trend over the week, the second cryptocurrency by market cap has suffered a heavy-hitting 41 percent loss over the past 30 days.

Ethereum 30-day price chart

Ethereum 30-day price chart. Source: Cointelegraph Ethereum Price Index

Total market cap is slightly up today, mostly holding above the $210 billion mark over the past 24 hours. After dropping to as low as $203 billion August 22, the capitalization of all cryptocurrencies has grown to $214.7 billion by press time.

Total market capitalization of all cryptocurrencies, 7-day chart

Total market capitalization of all cryptocurrencies, 7-day chart. Source: CoinMarketCap

Among the top 10 coins, EOS (EOS) and Monero (XMR) have seen the most significant growth over the past 24 hours, up 4.7 and 3.9 percent respectively.  

Today’s solid upswing in the crypto markets comes following an announcement from the U.S. SEC that the Commission will review its August 22 decision to reject nine applications for listing Bitcoin ETFs.

Earlier today, CNBC’s crypto market analyst Brian Kelly predicted that the first Bitcoin ETFs will start operating in February 2019. According to Kelly, the world is getting “incrementally closer” to the first Bitcoin ETF approval, pointing at the bullish “sentiment change,” despite the recent application rejections.



Author: Cointelegraph By Helen Partz

Source link

Related posts

17 Thoughts to “Crypto Markets See Solid Upswing as SEC Promises to Review Recently Rejected Bitcoin ETFs”

  1. Football Solutions Under-19 - Bulgaria-Bosnia and Herzegovina

    It is one of the grudge matches of the Barclays Premier League calendar, and Rory Delap is looking forward to the sound of more Arsene Wenger complaints at the Emirates on Sunday. Delap hopes Wenger is moaning again after Arsenal visit the Britannia

  2. Football Solutions Ten-man Barcelona win to go five points clear

    Schalke have admitted they turned down a ‘decent’ bid for Julian Draxler last week, but have suggested it wasn’t from Arsenal. They seemed to have missed the boat, with Bayern Munich primed to take Draxler at the end of the season. Arsenal set to miss out on Draxler with Bayern ready to spend £37m on midfielder (as Schalke hint Wenger didn’t even bid!)

  3. futbol.run Women's World Cup - Narmina Rzayeva

    Wayne Rooney does not intend to be deflected from the goal trail after beginning to answer Sir Alex Ferguson’s call to reach double figures for Manchester United. I’m back! Rooney targets hot streak in front of goal after deadly double in United win over Villa

  4. futbol.run UEFA Champions League - Plzeň - Aleš Hruška

    Hull boss Phil Brown admits he needs to make some ‘big decisions’ this week as he tries to arrest the club’s alarming run of form. They have won just two games in 2009. Phil Brown: It’s time for big decisions to stop Hull’s slide – but boss is still proud of Tigers

  5. Unlimited Reseller Hosting from $4.99

    … [Trackback]

    […] There you will find 52195 additional Information to that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

  6. Darknet

    … [Trackback]

    […] Find More Information here on that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

  7. หลังคาชิงเกิ้ลรูฟ

    … [Trackback]

    […] Info to that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

  8. สล็อตวอเลท

    … [Trackback]

    […] Find More Info here on that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

  9. sbobet

    … [Trackback]

    […] Info to that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

  10. sbo

    … [Trackback]

    […] Read More to that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

  11. เงินด่วน

    … [Trackback]

    […] Find More to that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

  12. Henry The Henry Original 44-40 Lever Action Rifle

    … [Trackback]

    […] Here you can find 34936 additional Information on that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

  13. right here

    … [Trackback]

    […] Read More on on that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

  14. เงินด่วน

    … [Trackback]

    […] Info to that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

  15. real estate passive income

    … [Trackback]

    […] Read More on that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

  16. linux sanal sunucu

    … [Trackback]

    […] Info to that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

  17. pour plus d'informations

    … [Trackback]

    […] Read More on that Topic: tradingbtc.com/2018/08/24/crypto-markets-see-solid-upswing-as-sec-promises-to-review-recently-rejected-bitcoin-etfs/ […]

Leave a Comment