The total combined market capitalisation of cryptocurrencies continues to fall to new yearly lows despite ongoing improvements to the fundamentals of the space. From a fundamental perspective, the cryptocurrency space has never looked better.
Increased institutional options by the likes of Circle, Coinbase, and Blockchain, and the ICE recently announcing intentions to form the Bakkt platform with the likes of Starbucks and Microsoft by November 2018, are clearly positive developments. In fact, many in the cryptocurrency space were surprised that the latter project had not translated into a substantial price move to the upside.
That said, the overall market is still tanking. The likes of Ethereum, EOS, TRON, IOTA, and NEO are the worst hit of the top 15 projects.
They’ve seen 24-hour drops of between 9 and 11.5% according to CoinMarketCap. Evidently market sentiment is not where it needs to be to see a reversal of the 2018 crypto bear market just yet.
One potential cause of the continued lack of positive sentiment is the decision by the U.S. Securities and Exchange Commission (SEC) to delay the most-anticipated of the many Bitcoin ETF proposals it has received this year. The VanEck/SolidX application is thought by many to be the first ETF to receive approval. Read more from altcointoday.com…
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