Mini Market Update - 07/02/18

Mini Market Update:

What a positive past 24 hours. We were preparing for BTC to slide to $3k (which it still may) and for all other coins to follow in its depreciating footsteps, but everything has started to rebound after the US gov and the SEC displayed its support for cryptocurrencies whilst announcing it has no plans to slow down the market's potential growth.

CFTC Chairman Giancarlo went as far to say “We owe it this new generation to respect their enthusiasm about virtual currencies with a thoughtful and balanced response, not a dismissive one.”

The two bodies are teasing their approach to regulating cryptocurrencies and ICOs by categorising them as securities. “By and large, the structure of ICOS that I have seen involve the offer and sale of securities and directly implicate the securities registration requirements."

Furthermore, they expressed their view that anti-money laundering and know-your-customer laws must be implemented. “Market participants should treat payments and other transactions made in cryptocurrency as if cash were being handed from one party to the other.

Market Round Off:

Market Cap hit a low of $278bn and we're now climbing back up. At time time of writing, we are at $339bn.

Top 3 Performers:

Quantstamp : +74%
RequestNetwork: +68%
ICON: +67%

Top 3 Weakest Performers: (yet all of them are still in green)

Cryptonex: +14%
Monacoin: +15%
BCash: +18%

BTC: $7,947
ETH: $802
XRP: $0,77