Why Bitcoin, Ethereum, and Solana Were Up Thursday Morning
The crypto market is once again seeing a lot of volatility, but right now the moves have been positive. Investors are moving back into crypto assets broadly, and the big cryptocurrencies are leading the way.
At 11:40 a.m. ET on Thursday, Bitcoin (CRYPTO: BTC) was up 2% in the last 24 hours, Ethereum (CRYPTO: ETH) was up 6%, and Solana (CRYPTO: SOL) has risen 7.3%. These major tokens have pulled the entire crypto space higher.
The theme of the day is regulation, and there were mixed signals for the crypto industry. Securities and Exchange Commissioner (SEC) Chairman Gary Gensler said in a speech this morning that the agency has all of the rules it needs to regulate cryptocurrencies. Gensler reiterated that he thinks "most crypto tokens are investment contracts," which would indicate that most cryptocurrencies will need to be registered as securities, in his eyes.
Source Fool.com
