Bulls have capitalized on the crypto markets following a subtle downside movement last week – the broader rally in the cryptocurrency prices helped coins to recover the majority of losses they posted in the previous few sessions; the rally is supported by the sentiment that prices will boom amid exchange registrations with SEC.
Bitcoin Cash
BCH is among the prominent gainer; its price lifted sharply to surpass the $1113 mark early today with the market capitalization of $19.2 billion. Gemini Exchange announcement to add BCH and Litecoin (LTC) to its trading platform enhanced trader’s sentiments.[1]
The platform has been only supporting Bitcoin (BTC), and Ethereum (ETH), while their founder’s confidence in prospects for cryptocurrencies led them to support two more coins.
“So a lot of people are starting to see that, they recognize the store of value properties. So we think regardless of the price moves in the last few weeks, it’s still a very under-appreciated asset,” said Cameron Winklevoss.
The Winklevoss twins and several other players have appreciated SEC efforts to help digital currencies in building investors confidence.
Cardano
ADA price rose 15% early today before losing the momentum later in the trading; the coin exceeded $0.22 mark after hitting $0.19 last week. With the market capitalization $5.95 billion, Cardano lags slightly behind NEO’s market capitalization of $5.99 billion. ADA price experienced substantial downside volatility in the last month; the downtrend in Cardano price was due to the lack of a well-established foundation of the smart contracts used for Cardano.
Monero
XMR price jumped at a double-digit rate in early trading today; XMR price soared to $285 before soothing later in the trade and its market capitalization improved to $4.5 billion from Sunday low of $4 billion. XMP had gained significant popularity in the last couple of months, driven by its potential to conduct completely anonymous transactions. Cybercriminals, drug dealers, and money launderers are helping Monero to generate strong gains. This cryptocurrency is also exposed to several risks, amid increasing regulatory requirements from banking and regulatory authorities across the world. [2]
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References
- ^ announcement (news.bitcoin.com)
- ^ completely anonymous transactions (cryptocurrencynews.com)
- ^ Twitter (twitter.com)
