In today’s column of weekly crypto brief, we’ll take a look at the market’s double-digit gainers, countries that have made major strides in cryptocurrency regulations and more juicy stories that have graced the cryptocurrency industry in the last one week.
Crypto market continues recovery as bitcoin hits $6,700
Bitcoin’s price increased from $6,400 to $6,700 in the past 24 hours recording a decent increase in its daily volume. The total market capitalization also increased from $210 billion to $215 billion within a two-day period. This may have been fueled by the short-term surge in the price of tokens.
Thailand, S. Korea, Japan and Philippines makes strides towards crypto regulation
It is evident that these countries have recognized the need for early regulation in an ever growing crypto and blockchain industry. For instance, the Philippines’ Cagayan Economic Zone Authority (CEZA) announced that they would issue 25 licenses to crypto exchanges in the country. During the announcement, the agency had already issued 2 Licenses. In the other countries, relevant authorities are busy drafting legislation to regulate the industry. This is a clear signs of the increased acceptance of digital coins in countries around the world.
ICX, AION, ARK, LSK and 4 more double digit gainers
Following the bullish markets, some alternative coins have taken this opportunity of a stable bitcoin and a general good feeling to post double digit gains. Further, Lisk (LSK) gained 11% in the last 24 hours, and is currently trading at $5.30. Also, NANO, ICON, Bytom, Aion, Wanchain and ARK gained 16%, 11%, 11%, 18%, 19% and 18% respectively. With the total market capitalization maintaining levels above $200 billion in the last week, this may be a sign that bears are no longer in control of the markets.
Based on today’s column of weekly crypto brief, do you think the markets will manage to maintain the current bulls?
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