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Ripple's XRP was down 25% from its highest levels on Thursday.
The fight for regulatory clarity isn’t over yet, however, as the SEC will likely appeal the decision and continue to pursue similar cases in the future, analysts wrote.
The spike in trading activity came after a partial win in a lawsuit against the SEC.
The trading volume of XRP against the Korean won was the highest among all other counterparts .
Identifying the owners of crypto wallets may level the playing field for retail traders. But if taken too far it could be weaponized against the weak.
The latest price moves in crypto markets in context for July 14, 2023.
The surge in the crypto exchange’s share price was driven largely by investors who saw the decision as a representing a rejection of the SEC’s argument in the lawsuit it filed against Coinbase in June, the report said.
XRP's market capitalisation surged by more than 60% to $41.44 billion in the past 24 hours.
XRP token market capitalization has jumped to over $40 billion, its largest level since April 2022.
Several Layer 1 tokens are soaring as SEC cases are called into question after a favorable XRP ruling.
- 01:53A certain whale sold 4.76 million Fartcoin at a price of $0.9 within the past 12 hoursGolden Finance reports, according to Lookonchain monitoring, in the past 12 hours, another whale sold 4.76 million Fartcoin at a price of $0.9 (worth $4.29 million).
- 01:52Analyst: The market trend is shifting from data-driven to policy-driven, pay attention to the Federal Reserve's wording such as "smooth operation" and "temporary"Golden Finance reports, according to cryptocurrency analyst arndxt's post on the X platform, there has not yet been any real hedging behavior and the retail industry has not yet surrendered. ETF inflows remain strong. Market depth is slowly declining, liquidity damage is amplifying price trends - it's liquidity, not sentiment that is the real vulnerability of the market. However, once buying on dips reflex fails again and expectations for excess wealth in 2019-2024 cycle are challenged, true deleveraging will begin. We are entering a stage where market trends will be increasingly influenced by policy rather than just data-driven. Please pay attention to terms such as "smooth operation", "temporary" and "facilities" from the Federal Reserve.
- 01:50Vitalik: The growth of the application layer is precisely the time when good social philosophy is most neededOn April 13, PANews reported that in response to the statement "Ethereum's self-updates require generational/talent turnover. And the next generation needs to be rooted in Ethereum values (such as crypto punk)", Vitalik Buterin replied on Warpcast: "I actually think that the growth of the application layer is exactly when good social philosophy is most needed. For example, suppose C++ was developed by an authoritarian racist fascist. Would it be a worse language? Probably not. C++ is universal and there isn't much room for bad social philosophy to ruin it (or for good social philosophy to improve it). Ethereum Layer-1 is not entirely like this: people who don't believe in decentralization won't add light clients, FOCIL or (well-formed) account abstractions; people who don't mind wasting energy won't spend five years migrating to PoS... but anyway, EVM opcodes are probably roughly the same. Therefore, about 50% of Ethereum might be generic. About 80% of applications are specific. What kind of application you build largely depends on your ideas about what Ethereum applications (and all of Ethereum) will do for the world. So having good ideas on this topic becomes crucial." In addition, Vitalik listed some applications and believes that good ones include Railgun, Farcaster, Polymarket and Signal while bad ones include Pump.fun, Terra/Luna and FTX. He believes that differences in application functionality stem from developers holding different beliefs about their goals.