Crypto Markets Trade Sideways After SEC Rejects TON

Saturday, Oct. 12 - following a minor price rally earlier this week, crypto markets are trading sideways as the top-20 coins by market cap report mixed signals.

At press time, 8 out of the top 20 cryptocurrencies are seeing gains, with Binance Coin surging nearly 2.8%. Chainlink is seeing the biggest losses among the top 20, down more than 6.1%. Market visualization.

At press time, the biggest cryptocurrency by market cap is trading at $8,329, down around 0.3% over the past 24 hours at press time.

Over a seven-day period, Bitcoin is up by around 2.8%. Bitcoin's market share rate has been stable over the day, accounting for 66.9%. While some Bitcoin bulls are predicting that the upcoming Bitcoin's block reward halving in May 2020 will lead the major cryptocurrency to break the all-time highs, the CEO at Chinese mining giant Bitmain recently claimed that the halving may not lead to a bull market.

On Oct. 8, American asset manager VanEck published research providing a number of reasons why Bitcoin improves an investment portfolio upside, emphasizing the coin's monetary value, scarcity and independence from traditional markets.

Ether, the second cryptocurrency by market cap, is down 0.6% over the day to trade at $182 at press time.

Ripple, the third top cryptocurrency by market cap, is up around 0.2% and trading at $0.272.

Total market capitalization amounts to $224 billion at press time, seeing no change over the past 24 hours at press time.

Over the past 7 days, total market cap grew by $8 billion, according to CoinMarketCap.

U.S. regulators reject Grams and Bitwise ETF. The markets are reporting mixed signals after major American regulators rejected two significant crypto-related initiatives earlier this week.