Altcoin
US SEC Remains Silent on XRP, SOL, & ADA Roles, Clarifies John Deaton
Amid speculation about the future of XRP, SOL, and ADA in the US, reports suggest that the US SEC has released details about their potential roles under President Donald Trump. However, XRP lawyer John Deaton set the record straight, stating that the regulator hasn’t shared any such information.
Did US SEC Release Details on Crypto Roles? John Deaton Weighs In
According to recent reports, the US Securities and Exchange Commission (SEC) has released details on the potential roles of altcoins such as XRP, SOL, and ADA within the government. Reportedly, XRP is recognized as suitable for state-level financial transactions. Its primary goal is to optimize government payments and enhance interbank liquidity.
Meanwhile, ADA is deemed ideal for academic credentialing, smart contracts for government services, and secure infrastructure management. At the same time, SOL may be used for high-speed blockchain applications. These includes real-time government databases, secure voting mechanisms, and digital identity management.
However, XRP lawyer John Deaton dismissed these rumors asserting that the SEC still remains silent on the potential roles of these assets under the Trump government. He stated, “The SEC did not release any such thing.”
US SEC Acknowledges XRP as a Strategic Financial Asset
Reportedly, the US SEC acknowledged XRP as a strategic financial asset. The official website of the US SEC published a document entitled “Comprehensive Proposal: XRP as a Strategic Financial Asset for the US,” which explained how XRP is poised to play a pivotal role in the US financial landscape. The regulator also proposed the potential roles of other cryptocurrencies too. The document read,
Solana and Cardano should be integrated into U.S. digital infrastructure but not included in the reserve strategy. Instead, they enhance efficiency and security for state applications, while XRP remains the key asset for financial transactions.
While some claim this as the SEC’s clarification on the potential roles of these assets in the US government, John Deaton denies it. He has disputed the claim, stating that the regulator has not released any such clarification. This denial has sparked confusion and debate among crypto enthusiasts, highlighting the need for official confirmation from the US SEC.
This comes following John Deaton’s recent endorsement of Bitcoin amid the BTC vs XRP war. He highlighted Bitcoin’s potential, pointing out the significance of holding BTC in one’s portfolio.
Community Seeks Clarity on SEC Proposal, Appreciates John Deaton
Notably, John Deaton’s post gained widespread attention as it provides clarity to the prevailing rumors about the SEC’s clarifications on XRP, SOL, and ADA. This development comes on the heels of Trump’s decision to include these altcoins, along with Bitcoin, into the US reserve.
Many remain concerned about the circulating misinformation. Meanwhile, XRP lawyer Bill Morgan reinforced Deaton’s claim stating, “Where does it come from. Endless false information.”
Following John Deaton’s clarification, the community acknowledged that the document on the SEC’s website is merely a proposal submitted by someone. They believe that it might not be authored by the SEC itself. This development highlights the importance of verifying information through reputable sources to avoid spreading misinformation.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
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.
A crypto expert has promptly shut down the idea that XRP will ever surpass Ethereum. In his post, the analyst shared several reasons why he believes such an outcome is highly unlikely, highlighting the inherent differences in both cryptocurrencies in terms of infrastructure and utility.
Why XRP Is Unlikely To Overtake Ethereum
A debate over the future of two top cryptocurrencies is spreading across a small group of crypto enthusiasts after Ansem, a well-known crypto expert on X (formerly Twitter), firmly dismissed the notion that XRP will ever flip Ethereum. According to the analyst, Ethereum’s dominance is driven by its robust smart contract capabilities, widespread developer adoption, and its central role in the Decentralized Finance (DeFi) and Non-Fungible Token (NFT) ecosystems.
The top altcoin has made a name for itself over the years, solidifying its position as the second-largest cryptocurrency and the number-one altcoin. Ansem argues that the high staking participation and gas fee model employed by the Ethereum blockchain contributes to its persistent adoption and demand, making it a leader in the Web3 space.
Ethereum is also a hub for Layer 2 scaling solutions and developer projects, which effectively boosts its growth and solidifies its position as a key player in the crypto industry. Based on the analyst’s reasoning, all of these innovative developments and solutions seemingly makes Ethereum far superior to XRP.
Unlike Ethereum, which focuses on smart contracts, XRP is centered on cross-border payments, which, while valuable, lacks the developer flexibility and diverse use cases that have fueled Ethereum’s growth. While Ripple has consistently made efforts to push XRP’s technology into traditional finance, Ansem explains that banking alone is not enough to challenge Ethereum’s dominance. The analyst also suggested that its integration into global banking was never a realistic possibility.
While staking and gas fees drive Ethereum’s ecosystem, the crypto expert highlights that XRP lacks similar growth drivers, making it difficult for it to surpass ETH. He also noted that the asset is nowhere near the level of adoption Ethereum has achieved since its inception.
Overall, Ansem has concluded that while the altcoin maintains a top spot in the crypto market, it is unlikely to challenge or even overtake Ethereum in terms of adoption, utility, and long-term value.
Analyst Shares Opposing View
Despite Ansem’s skepticism over XRP potentially surpassing Ethereum, some crypto analysts have pushed back, arguing that the altcoin has already achieved this feat. Market expert CrediBull Crypto responded to Ansem’s post, highlighting that XRP overtook Ethereum in the last market cycle, most likely during the 2018 bull run.
At its peak, the asset’s market capitalization briefly surpassed Ethereum’s to become the second-largest cryptocurrency in 2018. However, since then, Ethereum has solidified itself as the backbone of Decentralized Applications (dApps), undergoing consistent network upgrades and ecosystem developments.
Featured image from Adobe Stock, chart from Tradingview.com
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Pi Network price has come under strong selling pressure, dropping another 8% to $1.45 today. However, the recent buzz around the launch of Pi domains could change the trajectory of Pi Coin, pushing it back to above $2 once again.
Pi Network Launches Domain Bidding with Pi Coins
In the latest development, Pi Network announced the launch of .pi domains allowing users to exclusively bid in the native cryptocurrency, i.e. Pi Coin. The event already kicked off on Pi Day on March 14, and will continue further until Pi2Day, up to June 28, 2025.
The auction represents a significant step for the Pi ecosystem, as it creates a real-world utility case for the cryptocurrency. According to the announcement:
“The .pi Auction is fully run on Pi cryptocurrency—people need to use Pi to bid and purchase something that has real-world meaning and purpose.”
The organization also announced that it won’t accept any other digital assets except for Pi Coins. All proceeds from the auction will be reinvested into the Pi ecosystem, supporting developer programs, events, and initiatives that enhance Pi’s utility.
Heavy Rush for Amazon, Samsung and Tesla Pi Domains
Soon after the announcement within the Pi Network ecosystem, .pi domains linked to top firms such as Tesla, Samsung, and Amazon have been bid on a single wallet address. The total expenditure for these bids amounts to a substantial 60,000 Pi Coins (PI).
This activity highlights growing interest in Pi domains, showcasing the platform’s potential to create a competitive marketplace centered around exclusive naming rights within the Pi Network.
The auction structure for .pi domains includes a dynamic timeframe for individual domain bidding. While the overall auction has a fixed end date, specific domain auctions will be extended if new bids are placed within 24 hours of their scheduled conclusion.
Pi Coin Action Moving Ahead
Ahead of the Pi Day on March 14, traders had turned increasingly bearish about Pi Coin eroding nearly $1 billion market cap for the altcoin. As per the Coinglass data, the open interest has also dropped 6% in the last 24 hours.
Crypto market analysts are hopeful that the PI price will stage a bounce back from the $1.45 levels. On an immediate basis, Pi Coin first needs to reclaim $1.56 levels, which will open further gates for a rally to $2 and beyond.
It will be interesting to see whether market analysts turn bullish ahead of here. Some market analysts have also been predicting a PI price rally to $10 moving from here onwards.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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.
Dogecoin has faced continued selling pressure, losing the $0.17 support level in the past 24 hours. This price decline comes amid broader market decline, which has seen the meme coin also struggling to regain momentum. Despite this setback, a new technical analysis from Trader Tardigrade shows that DOGE remains within a historically significant macro channel. If the price holds within this range, it could indicate that the bottom has already formed, setting the stage for a significant breakout in the coming months.
Dogecoin’s Price Action And The Macro Channel
According to a detailed technical analysis of Dogecoin’s price action on the monthly candlestick timeframe, shared on social media platform X by crypto analyst Trader Tardigrade, Dogecoin has maintained a well-defined uptrend macro channel that has shaped its long-term price trajectory since its inception. However, the analyst pointed out that there have been instances where the meme coin briefly deviated above or below the upper and lower boundaries of this macro channel before reverting back inside.
The current price action of steady declines since January has seen DOGE now testing the lower trendline level within this macro structure. The question is now whether Dogecoin can rebound from the lower trendline without a deviation or whether it deviates again and trades below the trendline for a few months.
As highlighted by Trader Tardigrade, should DOGE remain within the macro channel without breaking below the lower trendline, it would indicate that the cryptocurrency has already reached its bottom. This scenario mirrors a similar pattern observed in 2017, when Dogecoin’s price respected the lower boundary without deviation. This, in turn, caused a strong rebound and sustained uptrend in the months that followed.
However, past price behavior from 2020 suggests that a deviation remains a possibility, meaning DOGE could temporarily fall below this trendline and spend the next few months trading beneath it. At the time of writing, this lower trendline is positioned around $0.15.
DOGE $6 Price Target And How To Get There
Despite the recent weakness in Dogecoin’s buying pressure, Trader Tardigrade is optimistic about Dogecoin’s long-term trajectory. Notably, the analyst projected a possible Dogecoin price surge toward $6. This ambitious price target hinges on the meme coin maintaining its macro structure without deviating and repeating the previous 2017 growth.
At the time of writing, Dogecoin is trading at $0.1687 after slipping below the crucial $0.17 support level in the past 24 hours. The loss of this support has intensified bearish sentiment, and there’s now a better likelihood of further downside movement in the short term.
Technical indicators suggest that Dogecoin still has room to decline before finding solid footing, and $0.15 is now the next important level to watch. A confluence of factors, including technical indicators such as the Relative Strength Index (RSI), could be pivotal in determining when DOGE might reach oversold levels and bottom out at $0.15.
Featured image from Unsplash, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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