Bitcoin’s price has gained about 24 percent in the 24 hours…trading at an average of $8,280, according to CoinMarketCap…Altcoins are also showing robust growth, with all the top 100 coins in the green, gaining as much 97 percent over the last 24 hours to press time. In the top 10 coins, NEO and NEM have increased by 55 and 46 percent respectively, while Bitcoin Cash (BCH) and Ethereum (ETH) gained up to 33 percent at press time.
The total market cap of all cryptocurrencies is at $388 bln, seeing gains of over $100 billion since Tuesday’s low of $276.8 bln…In addition to the general movement of the market, the rebound is can also be attributed to the outcome of the hearing on cryptocurrency and Blockchain held yesterday, Feb. 6, by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). During the hearing, CFTC chairman J. Christopher Giancarlo expressed optimism about Bitcoin with regard to the technology behind it, Blockchain or Distributed Ledger Technology (DLT): “If there was no Bitcoin, there would be no DLT.”
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