Top global cryptocurrency market is rebounding on Wednesday following a massive sell-off that erased half a trillion dollars from the market.
Bitcoin (EXANTE: Bitcoin) is trading traded 18,45% higher Wednesday above $8,300 according to CoinMarketCap.com. The jump marked a gain of more than $2,000 in just over a day.
Ethereum (ETH/USD) climbed 17.45% to $833, Ripple rose 12.14% percent to $0,79 and Bitcoin Cash (EXANTE: Bitcoin.Cash) gained nearly 15.32% to reach $1,024.
On a 24-hour basis, the 15 largest cryptocurrencies by market cap showed double-digit gains, with neo the greatest advancer, up $113%.
The gains followed a Senate Banking Committee hearing Tuesday on virtual currencies in which the chairmen of the Securities and Exchange Commission and Commodity Futures Trading Commission emphasized consumer protection without a heavy-handed ban on development of cryptocurrencies.