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What Could XRP Lose or Gain?

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5 hours ago

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Ripple vs SEC battle extends to the end of 2025 as the US Securities and Exchange Commission (SEC) decides to appeal district court rulings. Ripple plans to cross-appeal the arguments by the regulatory agency as it continues to threaten the crypto industry with regulation by enforcement approach. Meanwhile, traders brace for impact as XRP price moves sideways this week.

Ripple SEC Lawsuit Appeals Filed in the Second Circuit Court

The U.S. Securities and Exchange Commission finally filed its Form C related to appeals in the Ripple lawsuit. Form C is an appeal pre-argument statement required by the US Court of Appeals.

The appeal against Judge Torres’ ruling gets heated comments from Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty as the XRP army claimed the agency has missed the deadline. Moreover, the SEC is accused of missing the Form C filing deadline and back dating the document.

Notably, the SEC has appealed the summary judgment on Ripple’s XRP sales through crypto exchanges, distribution to employees and others by the firm, and XRP sales by CEO Brad Garlinghouse and Executive Chairman Chris Larsen.

The Gary Gensler-led government agency has started attacking the crypto market on secondary sales after recent losses in the lawsuit, Binance, and other lawsuits. Crypto executives including Stuart Alderoty slammed SEC and Gensler for their approach and overreach.

How It Will Impact XRP Price?

While the long-running U.S. SEC v Ripple Labs lawsuit has impacted the XRP price rally, some experts believe the appeals will continue to make an impact for a few years. However, price predictions by analysts and recent developments by the company indicates otherwise.

Recently, Ripple has introduced crypto custody for banks and financial technology firms. Also, the company is near to launch its RLUSD stablecoin, with numerous partnerships for XRP Ledger adoption. XRP price analysis by CoinGape shows that the price can hit $1 after RLUSD’s launch.

The crypto industry is upbeat on approval of XRP ETF by the U.S. SEC as the companies roll out indexes and futures in regulated markets. However, Bitnomial XRP futures were challenged as the securities regulator claimed that the futures fall under the purview of both the SEC and the CFTC.

XRP price performance is up just 1% this week after the SEC filed its appeal in the Ripple lawsuit. The price is currently trading at $0.54, with a 24-hour low and high of $0.542 and $0.550, respectively. Furthermore, the trading volume has decreased further by 30% in the last 24 hours, indicating a lack of interest among traders.

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Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Terra Luna Classic Nods Proposal To Deal With CoinMarketCap

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27 mins ago

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October 19, 2024

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LUNC News: The Terra Luna Classic proposal to take access to the relevant accounts and dashboard maintained with Terraform Labs (TFL) is almost approved by the community. As a result, LUNC and USTC price gains upside momentum to breakout resistance levels amid the latest developments.

LUNC News: Terra Luna Classic Community Approves Proposal

Proposal 12141 titled “Dealing with CoinMarketCap and other listings” is nearly passed by the Terra Luna Classic community. The proposal seeks the community’s approval to obtain access to TFL’s listed Terra Classic on CoinMarketCap and other aggregators. The bankrupt company is the only entity holding the keys to access the relevant dashboards to change links to website, social media, and other information for LUNC and USTC.

TFL is unlikely to make change requests on CoinMarketCap and other crypto exchanges related to LUNC and USTC after October 31. With TFL unlikely to provide access to the terra.money domain or the official Terra Money X account, the community seeks access to CoinMarketCap dashboards and potential other chain information management dashboards to resolve any unwanted issues.

Allnodes has already agreed to act as a temporary custodian of these access rights and agreements, to make any relevant changes according to governance decisions, and to relinquish ownership of these listings at such time as the TerraClassic governance decides.

The proposal has received 99.95% votes in favor, with validators Interstellar Lounge, JESUSisLORD, LUNCLIVE, moonshot, and Community First LUNC voted “Yes.”

LUNC and USTC Price Jumps

Amid the key news, LUNC price climbed 2% in the last 24 hours, with the price currently trading at $0.00009136. The 24-hour low and high are $0.00008905 and $0.00009181, respectively. Moreover, the trading volume has increased by 15% in the past 24 hours, indicating a rise in interest among traders.

Coinglass data indicate 1000LUNC open interest on Binance and Bybit has jumped more than 3% in the past 24 hours. This indicates that derivatives traders are actively buying Terra Luna Classic.

Meanwhile, USTC price climbed more than 4%, with the price now trading at $0.02199. Moreover, the trading volume saw a 32% rise in the last 24 hours.

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Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Charles Hoskinson Says Cardano Will Flip Bitcoin And Ethereum, Here’s When

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1 hour ago

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October 19, 2024

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Charles Hoskinson has said that the Cardano network will become “larger” than Bitcoin and Ethereum and provided a timeline for when this will happen. This came as the Cardano founder also made a case for why his network has an edge over other layer-1 networks, especially with the Voltaire era, which has ushered in decentralized governance on the network.

Charles Hoskinson Reveals When Cardano Will Flip Bitcoin And Ethereum

The Cardano founder mentioned that his network would become larger than Ethereum ten years from now and larger than Bitcoin in another decade. Charles Hoskinson added that most governments will run on their infrastructure in another decade. He made these statements at the Cardano summit in Argentina, which just kicked off.

Cardano becoming larger than Bitcoin and Ethereum will translate to the ADA price, flipping the BTC and ETH prices. That undoubtedly looks impossible for now, considering that ADA is currently the eleventh-largest crypto by market cap. At the same time, BTC and ETH are the first and second largest cryptos by market cap.

However, Charles Hoskinson is confident that it will eventually happen based on his belief that Cardano has superior technology to these other networks. He recently mentioned that Cardano is number 1 while remarking that the gap between the network and other networks isn’t close, especially with the network’s decentralized governance and the amazing roadmap items on the horizon.

Why Decentralized Governance Matters A Lot

Charles Hoskinson provided more insights into why Cardano’s decentralized governance matters. He said that with onchain governance, they have everything they will need to solve any problem. He added that this is why they aren’t focused on marketing but rather looking to build a true community that will also help market the network.

The Cardano founder also suggested that they were playing the long game rather than focusing on instant success. He said they want to build a network everyone can trust, including world governments. He emphasized that true decentralization brings about trust, which will help eliminate intermediaries and global firms that currently control all the narratives.

This is why Charles Hoskinson believes the Voltaire era is significant for the Cardano network and puts it above every other layer-1 network. Hoskinson also used the opportunity to shade networks, which venture capitalists fund. He indicated bowing to VC funding contradicts the whole purpose of blockchain technology. He remarked that most of these networks are centralized, as only a few run validator nodes on them.

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Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Altcoins To Dump Ahead As $81M Token Unlocks Approach

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3 hours ago

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October 19, 2024

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The crypto realm prepares for a dynamic shift in prices of 18 altcoins, primarily attributable to looming token unlocks ahead. Recent data from the Tokenomist.AI App suggests that nearly $81 million worth of coins will be released into the market over the coming week. These unlocks have raised severe market concerns over the coins’ future prices, as the supply of 19 coins stands poised to increase substantially.

Here’s a brief report on the cryptocurrencies that are set to face this bearish phenomenon ahead, per the latest market data.

19 Altcoins To Face Token Unlocks Ahead

Tokenomist app revealed that 19 coins that are to face unlock ahead include MRS, AITECH, ID, TRIBLE, ADA, KARRAT, ENA, EIGEN HTM, GTAI, C98, GAL, HOOK, GSWIFT, PYR, ACA, MOCA, and KPN. Let’s dig deeper into the upcoming unlocks and the mentioned coins’ current price action.

Metars Genesis

Metars Genesis (MRS) is readying for an unlock of 10 million coins worth $15.70 million as of October 24. This unlock is equivalent to a remarkable 11.87% of the token’s circulating supply. Nevertheless, MRS price traded up nearly 1% from yesterday, reaching $1.67. The coin’s intraday low and high were $1.56 and $1.59, respectively.

Space ID

Space ID (ID) stands strong to witness an unlock of 18.49 million coins, worth $7.10 million, as of October 22. The unlock is equivalent to 4.29% of the token’s circulating supply, raising investor concerns. ID price gained nearly 2.5% over the past day and is now trading at $0.3839. The coin’s intraday low and high were $0.3707 and $0.3876, respectively.

Tribal Token

Tribal Token (TRIBL) readies to face an unlock of 9.60 million coins, worth $6.37 million, as of October 22. This unlock equals 8.30% of the altcoin’s circulating supply. TRIBL price slipped nearly 5% over the past day and is now trading at $0.6698. The token’s 24-hour low and high were recorded as $0.6561 and $0.738, respectively.

Cardano

Cardano (ADA) is all set to experience an unlock of 18.53 million coins, worth $6.58 million, as of October 22. The unlock totals 0.05% of the coin’s circulating supply. ADA price soared nearly 2.5% today and is currently sitting at $0.3545. The coin’s intraday low and high were $0.3443 and $0.3566, respectively.

Karrat

Karrat (KARRAT) is to witness an unlock of 11.36 million coins, worth $6.76 million, as of October 23. The massive unlock equals 7.93% of the altcoin’s circulating supply. Nevertheless, despite the looming risk, KARRAT price surged nearly 10% intraday to reach $0.5864. Its 24-hour low and high were $0.5299 and $0.6526, respectively.

Ethena

Eythena (ENA) is preparing to experience a significant unlock of 12.86 million ENA, worth $5.33 million, on October 23. The unlock stands equal to 0.47% of the crypto’s circulating supply. Besides, ENA price pumped over 6% in the past 24 hours and is now trading at $0.4135. Its intraday low and high were $0.3886 and $0.4399, respectively.

EigenLayer

EigenLayer (EIGEN) stands primed to witness an unlock of 1.29 million coins, worth $4.70 million, as of October 22. This unlock totals 0.59% of the altcoin’s circulating supply. However, even EIGEN price soared 6.29% to $3.65 today despite the looming bearish phenomenon. The coin’s 24-hour low and high were $3.42 and $3.71, respectively. Also, it’s noteworthy that the EigenLayer X account was hacked recently, bringing additional attention to the token in light of looming the unlock.

Hatom

Hatom (HTM) is to experience an unlock of 5.39 million coins, worth $5.23 million, on October 20. The unlock is equivalent to a staggering 14.69% of the coin’s circulating supply. Meanwhile, HTM price dipped nearly 6% over the past day and is now trading at $0.9715. The crypto’s intraday low and high were $0.9679 and $1.07, respectively.

GT Protocol

GT Protocol (GTAI) is readying for an unlock of 2.60 million coins, worth $2.11 million, as of October 21. This unlock equals a considerable 7% of the token’s circulating supply. Aligning with the risk, GTAI price dipped 5% today and is trading at $0.8118. Its 24-hour low and high were $0.7939 and $0.8678, respectively.

Coin98

Coin 98 (C98) stands poised to face an unlock of 16.53 million coins, worth $2.14 million, as of October 23. This unlock weighs equal to 2% of the crypto’s circulating supply. Besides, C98 price witnessed a 2.5% increase in value to $0.1296 today. Its intraday low and high were recorded as $0.1247 and $0.1339, respectively.

Hooked Protocol

Hooked Protocol (HOOKED) is primed to witness an unlock of 8.33 million coins, worth $3.82 million, as of October 21. The unlock is equivalent to 4.27% of the altcoin’s circulating supply. Nevertheless, HOOKED price soared nearly 4% over the past day and is now trading at $0.4588. The coin’s intraday low and high were $0.4382 and $0.495, respectively.

Venom

Venom (VENOM) is poised to face an unlock of 33.76 million coins, worth $2.85 million, on October 25. This unlock totals 1.80% of the token’s circulating supply. VENOM price jumped slightly, up 1% over the past day to $0.08442. Its intraday low and high were $0.08208 and $0.08443, respectively.

GameSwift

GameSwift (GSWIFT) is readying to witness an unlock of 18.07 million coins worth $1.09 million as of October 21. This unlock is equivalent to 4.47% of the altcoin’s circulating supply. GSWIFT price is up nearly 1% today and is trading at $0.0604. The coin’s 24-hour low and high were $0.05937 and $0.06121, respectively.

Vulcan Forged

Vulcan Forged (PYR) is preparing for an unlock of 248.02K coins worth $647.32K as of October 25. This unlock totals 1.04% of the coin’s circulating supply. PYR price traded at $2.61 today, up nearly 2% intraday. Its 24-hour low and high were $2.52 and $2.67, respectively.

Acala

Acala (ACA) is to face an unlock of 4.66 million coins, worth $277.64K, as of October 25. This unlock totals 0.43% of the crypto’s circulating supply. ACA price jumped 1% over the past day and is now trading at $0.05866. The altcoin’s intraday low and high were $0.05791 and $0.06044, respectively.

Moca Coin

Moca Coin (MOCA) is eyeing an unlock of 44.08 million coins, worth $3.44 million, as of October 25. This unlock totals 3.4% of the crypto’s circulating supply. MOCA price dipped nearly 2% over the past day to reach $0.07756. The coin’s intraday low and high were $0.07654 and $0.07872, respectively.

KonnektVPN

KonnektVPN (KPN) stands poised for an unlock of 18 million coins, worth $85.67K, as of October 20. The unlock totals 0.73% of the coin’s circulating supply. KPN price slipped nearly 8% over the past day and is trading at $0.004761. Its intraday low and high were $0.004639 and $0.005148, respectively.

Meanwhile, CoinGape Media previously spotlighted a stockpile of other altcoins to sell in light of massive token unlocks, such as the ones mentioned above.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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