Crypto Price Week in Review: All Major Currencies Fall After SEC Postponement

Bitcoin (BTC)

At press time, bitcoin is buying and selling for simply over $6,400, a value it managed to safe yesterday afternoon. The forex has been the sufferer of a number of value swings over the previous couple of days, which doubtless stem from the Securities and Alternate Fee’s (SEC’s) announcement that it was suspending its resolution relating to the VanEck SolidX bitcoin ETF.

This brought about a panic in the cryptocurrency neighborhood, although to be honest, it’s doubtless individuals are overreacting to the information. The SEC has not mentioned “no;” they’re merely shifting the choice additional down the road. The group says it can both settle for or reject the corporate’s proposal by September 30.

Ethereum (ETH)

Ethereum – the second-largest cryptocurrency by market cap and the primary competitor to bitcoin – is now buying and selling for about $356.

ETHUSD: ETH/USD - Live Update

The forex, like bitcoin, has additionally been deeply affected by the SEC’S resolution. Ethereum began the week buying and selling for simply over $400, however rapidly fell by roughly $50 as soon as it grew to become clear that the governing physique was shifting its resolution into September.

Nevertheless, many nonetheless maintain religion in Ethereum like software program king Microsoft, which introduced the launch of a brand new Ethereum proof-of-authority on Azure.

Ripple (XRP)

Ripple has fallen by roughly 16 % because the SEC made the choice to not transfer ahead in the interim. At press time, it’s buying and selling for roughly 33 cents – about ten cents lower than when it started the week.

XRPUSD: Ripple to move in periods

Nonetheless, the forex continues to garner recognition abroad. The coin not too long ago made its manner onto the cryptocurrency funds platform in the Philippines, which boasts over 5 million customers. The system permits customers to pay their payments utilizing cryptocurrency, and XRP seems to be heading straight for mass adoption.

Bitcoin Money (BCH)

On the time of writing, bitcoin money is buying and selling for about $593. That is about $120 lower than the place it was buying and selling simply final week.

BCHUSD: BCH Short Term

A latest safety vulnerability discovered in the bitcoin money blockchain has been found. The know-how was being jammed with what one supply calls a “poisonous block” that if exploited, would have brought about full consensus failure. Bitcoin money would have been cut up in two, thereby stopping transactions and destroying its value.

Corey Fields, who found the bug, explains:

“Working via this bug, which actually had the potential for disaster, has reaffirmed my perception that the specter of software program bugs is severely underestimated in the cryptocurrency world.”

Litecoin (LTC)

Litecoin is buying and selling for an unimpressive $62. That is about $15 lower than the place Litecoin stood simply final week.

LTCUSD: LTC/USD 240 ...Thank You Charlie Lee...

Like all different main currencies, Litecoin is deep in the pink, but nonetheless has a loyal legion of followers. The forex was not too long ago listed on Netcoins, which seeks to make the acquisition and sale of cryptocurrencies simpler via brokerage companies.

Charts by TradingView

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