Following Bitcoin ETF Rejection Dash and Ethereum Set New Records
- It seems that holders of alternative cryptocurrencies need to thank the SEC for rejecting the Bitcoin ETF.
After the US Securities and Exchange Commission (SEC) rejected the Winklevoss twins’ Bitcoin ETF application late on Friday, Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term reacted paradoxically with an impressive show of strength.
Despite initial jitters sending it sharply down immediately after the SEC announcement, the price of bitcoin has completely rebounded from the negative news by now, with the price back above $1200. However, the real winners from the move were top alternative cryptocurrencies that greatly benefited from the unleashing of suppressed demand.
The smart contracts and decentralized apps Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term, Ethereum, is now traded for around $27. This is an impressive price record for ETH, which completed a rise of about 40% in just one week. In total, the market capitalization of all Ethereum tokens in circulation is worth $2.44 billion.
Privacy-focused cryptocurrency Dash also saw an amazing rise with its price now reaching above $75 - a jump of 66% in a week. The total market cap of the Dash blockchain is now above half a billion dollars ($540 million).
Ethereum and Dash, the number two and number three biggest cryptocurrencies respectively, got a positive publicity boost from the bitcoin ETF drama, as mainstream financial publications covered how new traders who find the number one coin too expensive to enter the market with turned to them for crypto exposure.
Another altcoin whose holders can be quite happy today is Monero. The XMR/USD exchange rate now stands above $17 after rising almost 13% in the last twenty four hours and is back again among the top four blockchain assets by total value, with a $245 million market cap.
After the US Securities and Exchange Commission (SEC) rejected the Winklevoss twins’ Bitcoin ETF application late on Friday, Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term reacted paradoxically with an impressive show of strength.
Despite initial jitters sending it sharply down immediately after the SEC announcement, the price of bitcoin has completely rebounded from the negative news by now, with the price back above $1200. However, the real winners from the move were top alternative cryptocurrencies that greatly benefited from the unleashing of suppressed demand.
The smart contracts and decentralized apps Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term, Ethereum, is now traded for around $27. This is an impressive price record for ETH, which completed a rise of about 40% in just one week. In total, the market capitalization of all Ethereum tokens in circulation is worth $2.44 billion.
Privacy-focused cryptocurrency Dash also saw an amazing rise with its price now reaching above $75 - a jump of 66% in a week. The total market cap of the Dash blockchain is now above half a billion dollars ($540 million).
Ethereum and Dash, the number two and number three biggest cryptocurrencies respectively, got a positive publicity boost from the bitcoin ETF drama, as mainstream financial publications covered how new traders who find the number one coin too expensive to enter the market with turned to them for crypto exposure.
Another altcoin whose holders can be quite happy today is Monero. The XMR/USD exchange rate now stands above $17 after rising almost 13% in the last twenty four hours and is back again among the top four blockchain assets by total value, with a $245 million market cap.