Crypto Ups and Downs on Jan 30 - Feb 5

In this article we present the weekly overview of the biggest gainers and the greatest downers among cryptocurrencies with the highest market capitalization
05 February 2018   1586

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.

This week was pretty sucessful for such major cryptocurrencies as Revain, DigixDAO and Tether. For instance, DigixDAO token increased from $229 to $491 within only 4 days, and then fell down to the point of $255 as of February 5, which nevertheless gave a 16,91% price rise to the token within a  week.

The biggest rise was shown by Revain token, which grew 51,87% with past 7 days, having risen from $1,05 to $1,45 while its market capitalization increased from $199 million to $268 million.

The Biggest Gainers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
Tether 2 218 493 269 1 3 016 390 000 + 0,44
DigixDAO 514 602 000 257,30 54 467 900 + 16,91
Bitcore 275 965 11 24,98  1 657 300 + 2,30
Revain 265 124 741 1,44 5 631 330 + 51,87
bitCNY 50 611 144 0,168371 84 162 200 + 12,11

Nevertheless, past week was not so fortunate for some of the cryptocurrencies. The great number of coins and tokens decreased more than 50%, falling down in price and market capitalization.

The Greatest Downers

Name Market
  Cap
Price 
in $
Volume
 (24h)
Change %
(7 days)
ICON 1 338 707 969 3,51 55 620 900 - 58,14
Ardor 399 540 857 0,399941 12 105 400 - 57,30
Medibloc 107 591 641 0,036270 2 038 060  - 57,66
PACcoin 60 631 123 0,000024 317 528 - 65,66
Unikoin Gold 50 134 518 0,373146 680 842 - 57,08 

The leader of fall of this week is PACcoin, which fell 65,66%, having market capitalization decreased from $188 million to $61 million only within 7 days. Moreover, ICON, the token which has a huge market cap of more than $1 billion, has also had a relatively unsuccessful week. ICON fell 58%, having its price lower from $9,6 to $3,6 from January 30 to February 5.

Regulation Expert: Ether and Ripple convinced Securities

Gary Gensler, former Obama administration financial regulator, supposes ether and ripple appear as unregistered securities, and in present violation of the law
24 April 2018   10

His words bring a substantial weight in the broader financial community. They also come after enterprise capitalists and lawyers put in ether projects met secretly with the US Securities and Exchange Commission (SEC) to head off such provision. the representatives for both coins insist they’re not securities. 

Former Obama CFTC head Gary Gensler is speaking about cryptocurrencies in the framework of his appointment to the Massachusetts Institute of Technology (MIT). He is thinking upon the crypto’s future relatively to regulation.

He’s concentrated on two of the most popular cryptocurrencies - ether and ripple, as potentially in future supposed to become securities. Should that happen, many experts consider it would herald the drop of both ones. Securities regulation imposes a host of legal burdens upon registrants, and costs to comply are often prohibitive and onerous. 

2018 is going to be a very interesting time. Over 1,000 previously issued initial coin offerings, and over 100 exchanges that offer I.C.O.s, are going to need to sort out how to come into compliance with U.S. securities law. 
Gary Gensler, former chairman, Commodity Futures Trading Commission

He believes that Bitcoin and other resemble currencies are decentralized to such an extent as to not trigger regulation. But that’s not so obvious in the cases of ether and ripple, both of which Mr. Gensler insists are in  breach of securities law.