Cryptocurrencies are going down... What may signal a recovery?
Crypto assets demonstrate mixed performance
On Thursday, key crypto assets were mixed in Asia, with Bitcoin going down a bit. The overall cryptocurrency market capitalization decreased by nearly $4 billion hitting $172 billion.
Eventually, Bitcoin reversed profits and slumped by 0.83% being worth $4,980.4, having ascended to $5,273.3 overnight. Bitcoin went full steam ahead to overleap the $5,000 mark overnight, although lost its momentum after a while.
Among other divers, we should mention Ethereum that slumped by 6.94% being worth $161.41, while XRP decreased by 6.45% trading at $0.34119.
Unlike the other crypto assets, Litecoin was still in the green. This digital coins headed north by 14.03% trading at $86.986. For the last week, it tacked on by 77.78%, thus becoming the top performer in the crypto world.
Besides this, the SEC came up with another move regarding crypto assets. On Wednesday, the watchdog told that the TKJ tokens by private-jet company TurnKey Jet released during its initial coin offering don’t appear to be securities in a no-action letter.
By the way, TKJ tokens would be tied to the evergreen buck and also redeemed for services by members of the program.
Additionally, the SEC enumerated reasons for not putting the crypto asset under its watch. The watchdog told that the digital coins will be instantly usable. In fact, they have been marketed for their utility, although not for potential gains. Moreover, the watchdog told that the tokens aren’t considered to be securities since TKJ transfers are going to be limited to TKJ wallets only and also cut out from wallets, which are external to the platform.
Besides this, the watchdog proposed a framework in order to determine whether a digital coin is an investment contract and simultaneously a security or not.
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