Investing.com – Bitcoin added to gains Tuesday as new fund inflows into the industry continued to aid the popular digital currency’s move higher as it eyed a test of recent highs.
The total cryptomarket cap rose to about $460 billion, a notch above the $450 billion seen Monday, as traders appeared to downplay a recent threat from the European Union. The EU warned Monday that it would regulate cryptocurrencies at an EU level if “no clear” international response emerged to tackle risks in the sector.
A possible reason that the regulatory threat from the EU may not carry the same weight as recent threats from Japan and South Korea is that the EU’s share of the daily cryptomarket activity pales in comparison to that of Japan and South Korea.
Japan’s participation in the global bitcoin market was estimated to have averaged nearly half of daily trading activity worldwide in 2017.
Bitcoin rose 4.36% to $10,701.0, as it eyed a test of last week's high of $11,776 on the bitfinex exchange. Ethereum rose 1.47% to $879.35.
Ripple’s XRP rose 1.31% as adoption of its platform continued to grow after Cuallet recently said it would integrate Ripple’s xRapid within its business model.
Litecoin fell 1.31% to $218.50, while Bitcoin Cash fell 0.74% to $1,244.