Daily Cryptocurrency Tracker 29.11.18: Cryptos remain in the green

The positive momentum seen in cryptocurrency markets yesterday continued over the past 24 hours, as 9 of the top 10 cryptos registered gains. At the time of writing, Bitcoin was up more than 4%, rising further above the $4,000 mark. However, the recent uptick is still far from a full recovery, as the market’s overall cap dropped more than 30% in November.

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Litecoin nearly erases weekly losses

Some of the more prominent gains seen over the past 24 hours were registered by Litecoin. The cryptocurrency, currently ranked 7th by market cap, showed gains of more than 6%, nearly erasing all of the losses seen earlier this week. Despite these recent gains, LTC prices are currently still down more than 30% for November.

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US Federal Judge rules ICOs are not securities

For the first time ever, a Federal Judge in the US ruled against the SEC in the matter of Initial Coin Offerings, saying participants of an ICO are buying tokens, and not securities as the SEC claims. California District Judge Gonzalo Curiel examined the case by applying what’s known as a “Howie test,” which is designed to test the definition of a security using three criteria. According to Judge Curiel, participants in the ICO he examined were not expecting to make a profit from the efforts of others, which is the first criterium of defining an asset as a security. This decision sets a precedent in the US and could give future ICO holders legal leverage against the SEC.

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