Cryptos show mixed trends at week-end

Posted 10 August, 2018

Cryptocurrencies showed mixed price trends at the end of the week.

Bitfinex, the price for bitcoin moved up to some $6,353; Ethereum on this platform weakened to some $357.7. On the Poloniex, Ripple prices decreased on Friday to 0.33349 and Litecoin was quoted at $61.520.

This week, the market capitalization dropped 10% depressed by the decision of the US SEC to postpone bitcoin-ETF determinations. The rate was at $230 billion by Friday, which is the bottom level since last autumn.

Among other factors, positions of the cryptos were affected by the US SEC, which decided to delay the determination of a bitcoin-ETF application filed by VanEck Associates Corp и Solid Partners Inc.

In addition, Japanese regulator intends to update the crypto regulation to prevent speculative investments. According to the authority, soaring investments into digital coins can be explained by marginal trading, when borrowings enable investors to buy/sell coins at the amount well above the deposit. In this situation, the Japan Virtual Currency Exchange Association proposed that borrowed capital should be limited by an amount exceeding trader's deposits only by 4 times.

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