Although crypto markets are still down over the past month, most of the top ten coins[1] are in the green today, June 7.
Market visualization from Coin360[2]
Bitcoin[3] (BTC) is comfortably holding above the $7,600 threshold and inching to a new price point of $7,700, trading at around $7,690[4] at press time. The leading cryptocurrency, up almost 2.3 percent over a 24-hour period, saw an intra-weekly low just above $7,400, but has since stemmed its losses.
Yesterday’s official clarification[5] from the chair of the U.S. Securities and Exchange Commission (SEC[6]) that Bitcoin is categorically not considered to be a security under U.S. law may have gone some way to bolster market confidence.
Bitcoin’s regulatory status is evidently more clear-cut than major altcoins Ethereum[7] (ETH) and Ripple[8] (XRP), both of whose representatives have emphatically[9] rejected[10] security classifications, although their regulatory status in the eyes of the SEC remains[11] unclear[12].
Bitcoin price chart from Cointelegraph’s Bitcoin Price Index[13]
Leading altcoin Ethereum[14] (ETH) has seen a slightly lower gains of just over 1.3 percent on the day, trading around $606[15] to press time. Having recovered from its low of $571 earlier this week, the coin has for now reclaimed its ground above the psychological price point of $600.
Ethereum price chart from Cointelegraph’s Ethereum Price Index[16]
Most of the top ten coins by market capitalization are showing minor fluctuations of within a 2-3 percent range over a 24-hour, as data from CoinMarketCap[17] shows. Of the top ten coins, only Cardano[18] (ADA)
