The crypto markets are continuing to trade sideways, but the outlook appears to be gradually improving. Bitcoin gained more than 2% over the weekend, while altcoins show a diverse landscape of gains and losses.
Cryptocurrency market dynamics since August 30. Source: Coin360
Bitcoin’s rise has largely coincided with a story by the Wall Street Journal, disclosing a private meeting held back in May between top SEC commissioners and Marc Andreessen, founding partner of Andreessen Horowitz. The meeting’s goal was to promote laxer regulations from the SEC, though as reported, it appears to have been mostly unsuccessful in swaying the minds of the commissioners.
The news still presents a positive development for crypto as a whole, showing that one of the top tech VC funds is actively pushing to ease cryptocurrency regulation. Andreessen Horowitz has made several investments in crypto, notably Maker and Libra.
It’s worth pointing out that the price increase may nevertheless be coincidental.
BNB slow to pump on Samsung news, Monero travels around the world
On August 30, Samsung announced the addition of several stablecoins and Binance Coin to the Samsung S10’s wallet. Binance CEO Changpeng Zhao tweeted the news, calling it “not a small deal,” clearly expecting it to produce ripples in the markets.
But BNB charts didn’t budge, continuing a decline that slightly reversed today with a 3% gain. According to some observers, a later-deleted tweet showed a frustrated CZ complaining about the lukewarm response.
Not a small deal, right? Guess which phone I will be buying and recommending to all of my friends! It's spreading. Bitcoin, BNB, Major Stablecoins Added by Samsung Galaxy S10 with Wallets Automatically Generated for Phone Owners https://t.co/s1QB3tAllk — CZ Binance (@cz_binance) August 30, 2019
But BNB has since awoken and shown a strong response. The Binance Exchange token rose sharply on Monday morning, with 24hr gains of over five percent. However, it has so far only narrowly recovered from the weekend’s losses.
Meanwhile, Monero is the only clear winner of the weekend. The privacy coin was added on Travala.com, a crypto-powered hotel and travel booking website. However, the market appears to have noticed the news only yesterday – compensating with an impressive 10% price spike.
Monero Price Chart. Source: CoinMarketCap
The market as a whole seems to be moderately promising as it approaches Q4, a favorable period for crypto prices. According to data from theTIE.io, the sentiment for the majority of coins is positive, as is their price dynamic.
Cryptocurrency Market Statistics by theTIE.io
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