Crypto Ups and Downs on 13 - 19 Mar

In this article we present the overview of the gainers and downers among cryptocurrencies with the highest market capitalization during the week on March 13 - 19, 2018
19 March 2018   1469

From this article you will learn about the most unpredictable ups and downs of cryptocurrencies. We have analyzed the crypto market, and researched the most popular tokens and coins with market capitalization over $1M. In the charts below you can find all relevant information regarding the leaders of growth and fall during past 7 days.

If we look at the charts of cryptocurrencies, it is clear that they continue to fall down in price following the trend of the previous week. However, some of the coins managed to gain some points, for instance Asch rose 29.85% within past 7 days. Experience Points is also rising, it managed to increase 7.75%, having its market capitalization grown from $59 million on March 13 to $64 million on March 19.

The Biggest Gainers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
Binance Coin 875 585 753 8,84 106 193 000 + 6.10
Aion 276 459 993 2,61 12 644 000 + 4.86
Asch 96 672 246 1,04 5 765 610 + 29.85
Genaro Network 70 466 101 0,298609 4 631 690 + 6.21
Experience Points 55 621 842 0,000253 173 998 + 7.75

As we have already mentioned before, past week was not so fortunate for some cryptocurrencies. A lot of coins and tokens fell down in price and market capitalization, losing popularity among the users.

The Greatest Downers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
PayPie 55 959 998  0,678303 81 062 - 47.11
SpaceChain 35 909 960 0,069729 109 768 - 52.05
Refereum 21 768 932 0,009320 514 435 - 49.24
adToken 20 252 700 0,033755 705 611 - 43.32
Electrify.Asia 18 434 188 0,073379 294 088 - 43.23

The greatest downer of this week is SpaceChain, which fell 52.05%, having its market capitalization decreased from $72 million to $36 million only within 7 days. Moreover, Refereum has also had a rather unsuccessful week, as it fell 49.24%, having its price drop from $0,016 to $0,009 from March 13 to 19. The market capitalization of adToken dropped from $35 to $20 million, while the market capitalization of Electrify.Asia fell down from $22 million to $16 million.

Lawyer to Share His Thoughts on ETF Approval

According to the number of his observations, Jake Chervinsky assesses the probability of postponement at 75%, failure - at 24.9% and 0.1% for approval 
20 May 2019   99

The US Securities and Exchange Commission (SEC) last week extended the deadline for consideration of an application to launch Bitcoin-ETF of Bitwise. This week, the regulator will have to make another decision on Bitcoin-ETF - by VanEck / SolidX. According to lawyer Jake Chervinsky, the future decision will be made in “unusual” circumstances.

SEC had to say its word in connection with the application of Bitwise by last Thursday, and the deadline for VanEck falls on this Tuesday. As noted by Chervinsky, in previous similar cases, the SEC combined solutions for different ETFs and published them on the same day. For example, in March, a delay for ETF Bitwise and VanEck was announced on the same day. Last year, the SEC simultaneously issued three waivers for different ETFs, although their deadlines were separated by weeks, while the Bitwise and VanEck deadlines only 5 days apart.

Based on these observations, Chervinsky concludes that this week’s ETF VanEck decision may be different from the next extension. However, according to the lawyer, community members should not hope too much for a positive outcome.

First, I'd be shocked if the SEC approved the first ever bitcoin ETF after six years of denials without taking all the time allowed by law. Moving slowly makes the SEC appear thoughtful & thorough.
 

Jake Chervinsky

Lawyer

In addition, the current market situation is not conducive to ETF approval. Bitcoin has been volatile lately, and investigations related to fraud and manipulation, for example against Bitfinex, are only gaining momentum. Finding factors that would push the SEC to a positive decision in such conditions is not easy.

The third and most important thing: in the last decision on ETF Bitwise, the reasons are mentioned in excess, because of which it is impossible to count on approval in the near future. These are questions about the nature of the Bitcoin market, and its vulnerability to manipulation, and about fake trading volumes.

If the SEC thinks all of these topics are grounds for denying Bitwise, then it certainly must view them as grounds for denying VanEck too. As a result, if VanEck were to have any chance of approval, the SEC would need to delay & ask all these same questions to them as well.
 

Jake Chervinsky

Lawyer

He also does not exclude the possibility that SEC employees might simply not have time to prepare a solution for ETF VanEck last week. Thus, Chervinsky assesses the probability of postponement at 75%, failure - at 24.9%, approval - at 0.1%.