Crypto market overview: major coins are under pressure despite Google decision to lift its crypto ad ban

The cryptocurrency market continued tumbling on Tuesday with the majority of coins - with some rare exceptions like XRP - sitting in a red zone. Google announced the decision to lift its crypto advertising ban for regulated exchanges in Japan and the USA, but the news failed to impress the market players who went on selling coins. 

“Advertisers will need to be certified with Google for the specific country in which their ads will serve. Advertisers will be able to apply for certification once the policy launches in October,” the company said in the official press release. 

The ban was introduced in may in order to stem fraud and illegal activities on the unregulated market, it was targeted primarily at ICOs.

Read more announcement Google's announcement here.

Bitcoin has settled below $6,400 handle, losing about 1% of its value since the beginning of the day. Ethereum, the second largest coin by market capitalization, is down 5%, changing hands at $208.28 at press time. ETH is one of the biggest losers of the Asian session on Wednesday amid news that about half a million of Ethereum coins fled crypto exchanges accounts in a single day.

RIpple's cryptocurrency, XRP, stays below $0.50 handle. The coin has lost over 6% since the beginning of Wednesday; however, the coin gained 5% on a day-to-day basis and became a growth leader of top-10 cryptocurrencies. Again. The idea of mass institutional adoption still supports the coin.