Crypto market is gradually recovering after the pre-New Year decline, while the news background for the industry in general remains somewhat negative.
Today, the focus remains on reports from Japan, where Japan financial regulator intends to fill gaps in the legislation that allows unregistered companies to attract investments in cryptocurrency. Tighter regulation of the market, as a rule, leads to a decrease in investor interest in this sector and provide additional pressure for market.
Another important topic for discussion is the news that the Swiss cryptocurrency exchange ShapeShift has reduced operating staff, firing 37 employees, i.e. a third of the former state. Thus, the trend continues in the market, which was outlined at the end of 2018, as the industry has experienced significant reductions in employees working for cryptocurrency companies. Earlier, similar action were carried out by the startup ConsenSys, Steemit, Bitmain and others. The reasons for the reduction are primarily associated with a crisis in the industry and a decrease in investment.
Among the ten largest cryptos in terms of capitalization, the TRX is now showing the best dynamics, as in seven days the coin moved up by almost 40%. Also, the coin was supported by reports about adding it to the decentralized wallet BitKeepOS.
Litecoin remains the growth leader, having added more than 22% over the past seven days. The main support for the coin continues to provide news of the end of December that the Litecoin Foundation will join the sponsor of the UFC tournament.
Ripple has good growth potential. On the eve of the London Bank Exim Bank, officially announced the use of this coin in the implementation of cross-border payments.
Ethereum is now showing a more restrained dynamic, but overall the coin has a very high chance of recovering above $ 200. It became known yesterday that the Ethereum Foundation is providing a grant of $ 5 million to its main technology sponsor, Parity Technologies, for the further development of the project.
The worst results among the highlights show Bitcoin Cash. The coin is sold on reports of a high probability of carrying out an attack of 51%, which entered the market at the end of last week.