Prices for cryptocurrencies have gone up in the middle of the week, with Seoul proposing cancelling ICO ban in the country.
On the Bitfinex, the leading digital coin, bitcoin, changed hands at $7,503; Ethereum on this platform softened in price, reaching some $564. Ripple was on the rise at about 0.60876. Litecoin prices were at 120.53 after rising to some $121 earlier.
Cryptocurrencies showed mixed dynamics this week. Prices generally weakened in particular on the moves of the US regulator. For reference, US Department of Justice launched an investigation concerning possible price manipulation by traders in the market.
Meantime, South Korean regulator proposed to revise the ban on local ICO. As a result, it is possible that ICO can again be allowed in the country. In addition, some actions and preparations are taken to legalize ICO and put it under regulation.
Notably, some market experts believe that bitcoin can be a new means for measurement of the market fear. In particular, the currency can reportedly be like VIX index and help to be ahead of credit risk in banking.
The available data showed that the crypto market has improved lately with the capitalization recovering from $323 billion to some $331 billion for now.