Why Altcoins Jumped on Thursday Afternoon
Cryptocurrency valuations jumped again on Thursday, continuing a wild week for the industry. Major cryptocurrencies were up by single digits, but smaller altcoins made big moves on some potentially helpful regulatory comments.
As of 1 p.m. ET today, Helium (CRYPTO: HNT) was up 6.6% in the past 24 hours, Bitcoin Cash (CRYPTO: BCH) was up 12.9%, Cosmos Hub (CRYPTO: ATOM) had jumped 14.8%, and NEAR Protocol (CRYPTO: NEAR) was up 10.5%.
The biggest news was from Securities and Exchange Commission (SEC) Chairman Gary Gensler, who reiterated that he thinks most tokens are securities. He also thinks "intermediaries" like exchanges and lending protocols need to be registered as broker-dealers with the agency.
Source Fool.com
