Daily crypto: Prices are declining and SEC is delaying ETF decision

Daily crypto: Prices are declining and SEC is delaying ETF decision.

Image source: Shutterstock / Wikimedia Commons

Tim Haldorsson

tim.haldorsson@trijo.co

Markets show declining prices, while bitcoin sv rallies over 18 percent. In addition, the SEC has chosen to move their deadline to approve or not approve a bitcoin ETF until February 27.

Over the last 24 hours, we have seen the prices decline sharply for cryptocurrencies. Almost all of the 100 biggest currencies show red numbers at the time of writing.

The market cap for all cryptocurrencies has fallen by $14 billion – from $122 billion yesterday to $108 billion today.

Moving the decision to February 27th

SEC, the U.S. Securities and Exchange Commission, has moved the decision on whether they intend to approve Vaneck and Solidx bitcoin ETF to 27 February 2019. SEC believes they need more time to decide if they approve or not approve a bitcoin ETF.

“The commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change”, SEC has said about delaying the decision.

Earlier has Hester Peirce who is working as a commissioner for SEC said that a bitcoin ETF can be approved “tomorrow or in 20 years”, Cointelegraph writes.

Bitcoin sv rallies

When we look at the biggest cryptocurrencies, all of them show red numbers. Stellar (-15,21%), ethereum ( -14,40%), bitcoin cash (-12,75%), bitcoin (-10,17%) and xrp (-9,08%) have seen considerable lower prices during the last day.

Today, bitcoin sv (+18,87%) has defied the declining markets and took the place as the sixth biggest cryptocurrency. Bitcoin sv is a hard fork from bitcoin cash, and now the hard fork has a market cap of $1.8 billion. This can be compared to bitcoin cash (-12,75%) that has a market cap of $1.9 billion.

The prices and market caps of bitcoin cash and bitcoin sv.

The prices and market caps of bitcoin cash and bitcoin sv. Image source: Coinmarketcap.com

The cryptocurrencies on top 100 that performed the best during the last 24 hours were xyo network (+26,72%) and bitcoin sv (+18,87%), and those who performed the worst were factom (-31,96%) and polymath (-27,84%).

Asset: Price: % (24h)*
Bitcoin $3 444,42 -10,17%
Xrp $0,30833 -9,08%
Ethereum $87,70 -14,40%
Stellar $0,11552 -15,21%
Bitcoin sv $109,76 -12,75%

*All numbers in this article are from Coinmarketcap.com.

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