Wednesday, May 2: the crypto markets are reasserting their recovery from recent corrections, with all of the top ten coins by market cap showing percentage gains today, as Coin360[1] data shows.
Bitcoin[2] (BTC) is reclaiming a level above the $9,000 mark, trading at $9,142[3] to press time, up almost 2 percent in the 24 hour period.
Ethereum[4] (ETH) is up almost 4 percent over the 24 hour period, holding ground just above $675[5] since early morning, after it took a hit yesterday, trading as low as $637.
Yesterday’s dip may have momentarily absorbed the impact of a Wall Street Journal report that ETH is currently in a regulatory “gray zone”[6] in the eyes of some U.S. Securities and Exchange Commission[7] (SEC) officials.
The WSJ article followed similarly equivocal comments[8] from former U.S. government regulator Gary Gensler, but markets seem to have voted their confidence today. ETH’s developers maintain they are "extremely comfortable[9]” ETH will not need to be regulated as a security.
Meanwhile, Bitcoin Cash[10] (BCH) is up over 12 percent[11] over a 24 hour period to press time, according to data from Coinmarketcap. This is a strong rebound from its significant losses earlier this week, after news broke that a group of BTC supporters was threatening a lawsuit[12] against pro-BCH site Bitcoin.com[13] for allegedly misleading Bitcoin investors.
IOTA has now edged back to reclaim its place in the top ten on Coinmarketcap, up more that 16 percent[14] over a 24 hour period, notwithstanding the Financial Times’ report last week on multiple online harassment allegations[15]
