The cryptocurrency markets resumed their advance on Friday, adding $5 billion to their combined market caps. Bitcoin price was one of the primary beneficiaries, and it leaped by more than $100 to pass the $4,400 checkpoint. Not one to be outdone, the ethereum price extended past a significant threshold of its own, while Ripple refused to put the brakes on its dramatic midweek surge.
Part of this rally should be attributed to Taiwan’s decision to adopt a friendly stance toward cryptocurrency usage. As CCN reported, Taiwan’s Financial Supervisory Commission (FSC) chairman Wellington Koo told a joint session of parliament that the FSC does not intend to adopt a hardline stance on cryptocurrency usage and initial coin offerings. Instead, the FSC wants to create a regulatory framework that protects consumers but also encourages innovation within the crypto space, much like the one implemented by Japan.
![crypto-market-cap-btc-price-oct6.png]
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Chart from CoinMarketCap
Within the past 24 hours, the combined value of all cryptocurrencies has grown by nearly 4%. After entering the day at $143.4 billion, the total crypto market cap has risen by more than $5 billion and now sits at a present value of $148.8 billion.
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