The total cryptocurrency market capitalization has declined to an all-time low of $344 Billion amid regulatory pressure across the globe.
- The March 7 SEC statement, asserting that all crypto exchanges in the US should register with the CFTC, contributed to the market downturn.
- The “Punishment Notices” issued by the Japanese FSA regarding seven crypto exchanges also contributed to the downward pressure.
- The downturn in the cryptomarket that started late December may be attributable to the $400 Million sale by Mt.Gox bankruptcy trustee.
- Altcoins are down across the board by 16%
- Bitcoin dropped below $9,000
- NEO lost 34% in a week
- Ethereum dipped below $700, its lowest since February 6
Read the original post on Cointelegraph
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