In the last 24 hours, Ripple prices gained four percent while the cryptocurrency market cap added $15.2 billion, demonstrating that investors are feeling particularly generous this Easter Monday.
However, the broad trends are still active.
One day’s reprieve does not change the fact that cryptocurrencies are backsliding. Investors are simply terrified of potential regulation, and that fear becomes self-fulfilling—it eventually leads to an avalanche of sell orders.
What I find interesting is that companies react the exact opposite way to potential regulation.
Sure, business owners and Wall Street-types will spout abuse at government ineptitude, but in reality, they view government involvement as a sign of credibility. The anarchy of unregulated markets is too unpredictable for them.
As a result, corporations are eagerly plowing forward with new use-cases now that regulation is in the cards.
This may seem counterintuitive to retail investors, but it really shouldn’t. Remember how hopes of mass adoption sent cryptocurrency prices through the roof? Well, this is what blockchain’s welcoming party looks like: lots of “INCs” and “CORPs”; not a lot of individuals.
There has been substantial market cap growth from below $2 billion to the current $2.29 billion. The Testnet announcement seems to have some positive impact coming just after investors voice their concerns over the slow pace of the project. The launch will see the coin start recovering. With TRX coin burn expected soon, the token value is set to skyrocket.