Home Blog Page 1498

Expert Says It Looks Like Ripple and SEC Have Reached a Settlement 

Lele Jima
-
0
Expert Says It Looks Like Ripple and SEC Have Reached a Settlement 

Popular XRP community member and expert Ashley Prosper highlights several factors suggesting that the multi-year legal tussle between the SEC and Ripple has ended in a settlement, but this remains speculative.

Ashley Prosper made this known in a recent X post.  

“I can’t say that Ripple and the SEC have reached a settlement. But, I CAN say… it looks that way,” Prosper remarked.  

Factors Backing Prosper’s Assertions 

The prominent XRP community member further highlighted several factors he believes support his assertion. 

First, he mentioned the recent Second Circuit ruling in the SEC v. Govil lawsuit, where the court denied the commission’s request to reverse its decision on disgorgement. Notably, the court held that the SEC is not entitled to disgorgement from the seller if the buyer suffers no financial losses. 

Second, Prosper characterized the SEC’s remedies-related brief as terrible for failing to identify a single institutional investor who incurred economic losses from purchasing XRP from Ripple. 

According to him, another factor suggesting that the SEC and Ripple might have reached a settlement was the occurrence of a settlement conference, which took place without the defendant submitting its remedies-related reply brief. 

Recall that the parties had a settlement conference on March 29 at 03:10 PM (ET). The conference was in line with the court’s directive, which ordered the parties to convene at least one hour before the final pretrial conference by April 16 to explore the possibility of settling the case. According to Prosper, the settlement conference took longer than anticipated. 

SEC Now Focused on Other Crypto Entities 

In addition, Prosper pointed out that the SEC has shifted its attention away from Ripple and is now focused on charging other crypto-related entities, including Ethereum and Uniswap. 

For instance, the SEC launched an investigation that could potentially classify Ethereum as a security. It also sent a Wells Notice to popular Ethereum-based decentralized exchange (DEX) Uniswap. 

Furthermore, the XRP enthusiast mentioned Ripple’s plan to launch a stablecoin pegged to the U.S. dollar and the shocking release of 500M XRP from the company’s escrow account. 

Following the unscheduled release of the 500M XRP, Ripple enthusiasts speculated that the crypto payments company plans to use the funds to fulfill its settlement obligations. 

Lastly, the expert highlighted the upcoming SEC’s Sunshine Act meeting as another factor indicating that the parties have settled. It bears mentioning that the SEC recently conducted a closed-door meeting on April 11. 

A Few Corrections

However, it remains unclear whether the parties have reached a settlement, as Prosper and other XRP enthusiasts speculated. The lawsuit is still in the remedies stage, with Ripple expected to file its opposition to the SEC’s brief by April 22. 

In a subsequent disclosure, Prosper corrected some of his remarks, confirming that there is no settlement conference scheduled for April 16, as earlier noted. In addition, he stressed that the reason behind the uncharacteristic 500 million escrow unlock had been spotlighted.

For context, The Crypto Basic confirmed this morning that this escrow unlock came up to complete the 1 billion token quota scheduled for each month. Notably, the transactions, which Ripple scheduled for April 1, merely suffered a delay. Despite these corrections, Prosper continued to speculate based on the rest of his assertions.

Ripple Surprisingly Unlocks 500M XRP from Escrow: Here’s Why

Sam Wisdom Raphael
-
0
Ripple Surprisingly Unlocks 500M XRP from Escrow: Here’s Why

Ripple has uncharacteristically unlocked 500 million XRP from its escrow wallets in the middle of the month, sparking curiosity among market participants.

Notably, the blockchain payments firm typically unlocks 1 billion XRP from escrow on the first day of every month, a pattern it began in 2017 to facilitate a systematic release of XRP tokens. 

However, the latest escrow release, which amounted to 500 million XRP across two uneven transactions, occurred on April 12, eleven days later than expected. Whale-tracking platform Whale Alert called attention to this uncharacteristic escrow transaction in two disclosures on X.

The first transaction saw the release of 200 million XRP yesterday at 5:05 AM. The assets were worth $122.6 million at the time of the transaction. Interestingly, the recipient wallet, which belonged to Ripple, had been inactive since March 2021 before the recent transaction.

The second transaction occurred four minutes after the first, involving the release of an additional 300 million XRP valued at $183.89 million at the time. This brought the cumulative amount to 500 million, with both transactions flowing to the same address. Ripple has not moved the tokens from the address as of press time.

Reason Behind the Surprising Twist

A look at the transactions reveals that these particular escrow releases were actually scheduled to be executed after April 1 at exactly midnight. For context, Ripple has automated these escrow unlocks for the network to release 1 billion XRP tokens across various addresses on the first day of every month.

However, some of these scheduled releases fail due to issues with the address meant to receive the tokens, while some encounter delays. Data confirms that the system delayed the recent two transactions, executing them 11 days after the schedule.

Recall that The Crypto Basic revealed earlier this month that Ripple unlocked only 500 million XRP from escrow on April 1. The latest unlocks complete the 1 billion quota. While some XRP community members speculated that these were early releases for May, they were in fact late releases for April.

Ripple Escrow Unlock Anomalies

Notably, shortly after releasing the earlier 500 million XRP from escrow, Ripple locked back 800 million tokens on April 1. The company has continued to lock back 800 million XRP every month even before the scheduled 1 billion tokens are completely released.

Interestingly, these delays and failures have persisted throughout this year. Last month, the network only released 500 million XRP but Ripple locked back 800 million tokens. 

In February, the network unlocked 600 million XRP at the start of the month and 400 million tokens on the 25th. The firm locked back 600 million XRP before receiving the 400 million. This year, Ripple has only witnessed the normal routine unlock schedule in January. 

Market Veteran Sets “Mid-Term Realistic” XRP Target at $3 After Cross Above 2-Year MA

Sam Wisdom Raphael
-
0
Market Veteran Sets “Mid-Term Realistic” XRP Target at $3 After Cross Above 2-Year MA

Prominent market analyst Mikybull has reaffirmed his optimism in XRP, asserting that its mid-term realistic target is a 5x surge to $3 after crossing above the 2-year MA.

XRP currently trades at a pivotal position, looking to hold firm above the $0.60 psychological level. The most recent market-wide turbulence pushed XRP below this level on April 1, transforming it from support to resistance. However, it recently breached the resistance, but struggles to maintain a spot above it.

However, these struggles have not dampened Mikybull’s confidence. In one of his recent analyses, the market watcher stressed that XRP has crossed above the 2-year moving average (MA) on the 2-month chart, noting that this move signals a potential explosive surge.

XRP Crosses 2-Year MA

Data from an accompanying chart confirms that XRP breached the 2-year MA between August and September last year, and has continued to stay above this mark despite the market uncertainty and its persistent underperformance against the rest of the crypto market.

Mikybull’s optimism comes from historical data, which indicates that a cross above the 2-year MA typically leads to a substantial price surge. This pattern occurred in 2017 after XRP underperformed at the start of the year despite the broader market recording impressive price surges during the pre-bull run phase.

XRP climbed above the 2-year MA in late 2017, and eventually skyrocketed to the all-time high of $3.31 in January 2018. Following the collapse from the $3.31 high, XRP dropped below the 2-year MA in early 2019 as it slumped to the $0.3 territory.

Interestingly, XRP crossed above the indicator for the second time in early 2021. This crossover again resulted in a price pump to the $1.96 high in April 2021. Nonetheless, XRP saw another decline that saw it collapse below the MA.

A Possible 5x Mid-Term Surge to $3

Now that it has crossed above the indicator for the third time, Mikybull expects a similar price surge, citing the result of the last two movements. Notably, another bullish pointer is the formation of a symmetrical triangle on the 2-month timeframe.

Before its meteoric rise from late 2017 to early 2018, XRP traded within a symmetrical triangle which formed when it dropped from the $0.0614 high in December 2013. The cross above the 2-year MA in late 2017 coincided with a breakout from this triangle, further bolstering the upsurge.

Data confirms that XRP currently trades within a similar symmetrical triangle, which formed when it dropped from the $1.96 high in April 2021. Mikybull expects a subsequent breakout to the upper trendline of the triangle, with analysis projecting a 5x surge as the realistic mid-term target, leading to $3.1.

Top Analyst Reaffirms Optimism in Cardano Rally to $9 Despite Dip

Abdulkarim Abdulwahab
-
0
Top Analyst Reaffirms Optimism in Cardano Rally to $9 Despite Dip

While Cardano (ADA) faces pressure from bears with little sign of recovery, analyst Ali Martinez remains steadfast in his assessment that ADA could reach $9 this year.

Cardano (ADA) has struggled with bearish forces, registering lower lows that reflect the broader market trend. A month ago, ADA reached a high of $0.8011 but has collapsed by approximately 30% to $0.5651. Over the last 24 hours, Cardano has witnessed a 2% decline, putting its price at $0.5743.

Meanwhile, as ADA struggles to impress, Martinez maintains that the asset is exactly where it needs to be at this time. In a recent update on X, Martinez asserted that his outlook for Cardano remains unchanged despite recent fluctuations.

Cardano Short-term Target of $1.7 Unchanged

The analyst’s latest update for Cardano follows his earlier commentary in which he forecasted that ADA would consolidate between $0.55 and $0.8. Interestingly, this outlook has materialized as the asset never breached the suggested range over the last 30 days.

Meanwhile, Martinez noted that a breakout from this consolidation zone could see ADA more than double in price. In particular, the analyst suggested a near-term price point of $1.7. Considering the current price at $0.5743, the short-term target implies the analyst expects ADA to expand by 196% soon.

Long-term $9.5 Forecast Remains Intact

Martinez’s conviction in ADA’s bullish path stems from its recent behavior, which mirrors the pre-explosive movements from late 2020. He presented a chart suggesting ADA stayed 805 days in consolidation between 2018 and 2020 before soaring aggressively by 3,217% to its $3.1 peak in 2021.

According to the chart, a similar pattern took shape between 2021 and the present, characterized by 532 days of consolidation. Leveraging this historical data and anticipating a repeat of ADA’s previous trajectory, Martinez foreshadows weekly candles driving ADA by 2,084% to $9.51 by the end of this year.

Interestingly, the $9.51 target represents a revision from the earlier projections of $7 and $8 made by the analyst. While Martinez still maintains a single-digit figure for Cardano this season, other market watchers have argued the likelihood of $11.

Ripple CLO Alderoty Highlights SEC’s Latest Defeat That Could Impact Ripple Lawsuit 

Lele Jima
-
0
Ripple CLO Alderoty Highlights SEC’s Latest Defeat That Could Impact Ripple Lawsuit 

The Ripple CLO Stuart Alderoty highlights the SEC’s latest legal woes that could have far-reaching implications for the ongoing Ripple lawsuit.  

Court Denies SEC Petition 

Notably, the U.S. SEC’s recent defeat came up in the commission’s lawsuit against Aaron Govil. In a recent development, the Second Circuit Court of Appeals declined to review its decision in the Govil case. The court decision held that the SEC cannot claim disgorgement from an issuer or seller if the buyer did not incur economic losses. 

It is noteworthy that the Second Circuit first issued the decision last year. Not satisfied with the decision, the regulatory agency filed a notice of appeal to reverse the ruling. 

However, the court affirmed its previous decision and subsequently denied the SEC’s petition for review. Commenting, Alderoty pointed out that the SEC has continued to lose, especially in legal tussles.  

Implication of Govil Decision on Ripple Lawsuit 

The Second Circuit’s position, which holds that the SEC cannot request a massive disgorgement without first proving investors suffered financial losses, could be relevant to the ongoing Ripple lawsuit. 

Recall that the SEC is seeking nearly $2 billion in penalties and fines from Ripple following the company’s violation of federal securities laws via its institutional sales of XRP. 

With Ripple expected to file its opposition to the SEC’s remedies-related brief by April 22, the crypto payments company could leverage the Govil decision to bolster its defense to convince Judge Analisa Torres not to grant the commission’s request. 

Should Judge Torres agree with Ripple’s position, the bone of contention would be whether investors suffered financial losses by acquiring XRP. 

The remedy stage of the Ripple lawsuit revolves around the company’s institutional sales of XRP. As a result, if Ripple is ordered to pay disgorgement according to the Govil decision, the crypto payments company will only focus on institutional buyers who bought XRP above the current price.

At the time of writing this line, XRP changed hands at $0.5977. The SEC’s original complaint alleged that Ripple engaged in unlawful sales of XRP between 2013 and 2020. For most of this period, XRP’s price traded below the current value of $0.5977, but traded at various highs during market peaks, including the ATH of $3.31 in January 2018.

However, it bears mentioning that the SEC’s complaint bothered solely on Ripple’s inability to register their sales with the SEC, and not based on an argument that the institutional investors suffered losses.

Here are Returns on Holding 5K, 10K, 50K, or 100K XRP if XRP Hits $43 and $100

Sam Wisdom Raphael
-
0
Here are Returns on Holding 5K, 10K, 50K, or 100K XRP if XRP Hits $43 and $100

XRP investors holding between 5,000 and 100,000 XRP could see their investments skyrocket by as much as 70 to 164x if XRP rallies to the $43 to $100 range.

The cryptocurrency market has embarked on a recovery journey, with Bitcoin (BTC) leading the charge, as prices experience major rebounds. However, despite BTC reclaiming the $70,000 price point, some altcoins have not recovered their mid-March highs.

XRP is one such altcoin, currently trading for $0.6085 amid a 0.93% drop over the last 24 hours. In addition, while XRP’s relative strength index (RSI) indicates a lack of strength, its current position at 49.56 suggests that XRP has more room for further growth.

The current position has sparked increased confidence in XRP’s potential for an uptrend, with recent projections setting up lofty targets at $43 and $100. These double and triple-digit price targets could skyrocket the worth of modest investments if XRP eventually realizes any of them.

Returns on 5K, 10K, 50K or 100K XRP at $47

However, despite the sustained optimism among market analysts, XRP addresses holding between 1,000 to 100,000 tokens have seen a steady decline this year, per Santiment data. These addresses amounted to 837,680 as of Jan. 1, but have reduced by nearly 10,000 to 827,760 at the reporting time.

XRP Ledger XRP 131042 12 Apr 2024
XRP Addresses | Santiment

Those who remain steadfast expect XRP to reach greater heights. For instance, should XRP hit $43, an investor with 5,000 tokens would witness their holdings appreciate to $215,000, representing a return exceeding $200,000. Moreover, individuals possessing 10,000 XRP would observe their holdings rise to $430,000 at the $43 price.

Meanwhile, investors with larger portfolios could experience even greater returns should this price projection come to fruition. At an XRP valuation of $43, those with 50,000 XRP would sit on investments valued at $2.15 million, whereas individuals holding 100,000 XRP would boast an impressive $4.3 million.

Returns on 5K, 10K, 50K or 100K XRP at $100

If the price of XRP reaches $100, investors with 5,000 tokens would see their holdings surge to $500,000. Meanwhile, those holding 10,000 XRP would witness their investment grow to $1 million.

On the other hand, individuals with 50,000 XRP would find themselves sitting on a $5 million investment, marking significant returns on their initial investment. Similarly, investors with 100,000 XRP would see their holdings reach $10 million.

Can XRP Reach $43 or $100?

While these returns can be enticing, the prospect of XRP reaching $43 or even $100 remains contested. XRP would need to breach multiple pivotal resistance levels on the journey to these targets, requiring a 6,966% surge to reach $43 from its current position, and a 16,333% rise to hit $100.

Crypto market analyst EGRAG asserted earlier this month that XRP could be on the verge of soaring to the $43 price point following the close of this year’s first quarter. In addition, market pundit Andrew Forte predicted that XRP could reach $100 by 2037. However, these projections remain uncertain.

If Shiba Inu Hits $0.00008, $0.00014 and $0.001, Can it Make More Millionaires

Abdulkarim Abdulwahab
-
0
If Shiba Inu Hits $0.00008, $0.00014 and $0.001, Can it Make More Millionaires

This article explores Shiba Inu prospect of transforming investors into millionaires if it reaches some forecasts such as $0.00008, $0.00014 and $0.001.

In the last bull run, Shiba Inu rewarded many resilient early adopters with millionaire status. During this ongoing bull market, prospects are high about Shiba Inu repeating history, with analysts issuing audacious outlooks for its peak. Among forecasted price points for Shiba Inu this season are targets of $0.00008, $0.00014, and $0.001.

Yet, a compelling question arises: Can Shiba Inu create more millionaires amid these ambitious price projections?

Shiba Inu Making Millionaires at $0.00008

At press time, Shiba Inu sells for $0.00002758 following a significant 16% collapse over the past 30 days. Shiba Inu needs to soar by 190% to attain the $0.00008. Notably, this price point represents one of its peak values in the previous bull market.

For an investor to attain $1,000,000 with Shiba Inu at $0.00008, they must be holding 12.5 billion Shiba Inu tokens worth $344,750 today. This pricy initial capital requirement contrasts the trend in 2020/2021 when many made millions from SHIB with less than $10,000.

Among the crypto commentators expecting Shiba Inu soon at $0.00008 are Shiba Inu ecosystem official Lucie and well-known market analyst Javon Marks.

SHIB Making Millionaires at $0.00014

Shiba Inu eventually canceling another zero to trade at $0.00014 would mark another unprecedented event. To attain this point, SHIB must surge 407% from its current market value.

Interestingly, this projected percentage growth is within reach for Shiba Inu this bull season. The asset flashed its capacity for such growth last month when it re-entered into the top ten rankings.

Notably, a Shiba Inu millionaire at $0.00014 must have stocked at least 7.14 billion SHIB tokens. As of today, this portfolio demands a capital of $197,000.

Crypto market analyst and educator Rafaela Ligo recently observed Shiba Inu mirroring a pattern from 2021, which resulted in a remarkable 1,164% surge within a month. Ligo projected a potential price point of $0.00014 for SHIB based on this observation.

Similarly, analyst Javon Marks shared a related sentiment when he proposed that SHIB’s journey to $0.0001553 would be smoother after re-entering the $0.000081 level.

Shiba Inu Millionaire at $0.001

Notably, this $0.001 target has the potential to sprout more Shiba Inu millionaires, considering the lower initial capital investment required. Holding 1 billion SHIB tokens, currently valued at $27,580, would make one a millionaire with Shiba Inu at $0.001. 

However, attaining this price point necessitates a 3,525% gain. While this percentage gain appears formidable, Shiba Inu pulled more staggering growth in 2021.

Notably, analyst Armando Pantoja expects this $0.001 price to materialize after the Bitcoin halving. Meanwhile, AI-powered platforms like Gemini (formerly Google Bard) and crypto platforms like Telegaon have argued it could take more than a decade for Shiba Inu to hit $0.001.

FTX Founder Seeks Reversal of 25-Year Prison Sentence and Fraud Conviction

Lele Jima
-
0
FTX Founder Seeks Reversal of 25-Year Prison Sentence and Fraud Conviction

Lawyers representing Sam Bankman-Fried (SBF), the founder of now-defunct crypto exchange FTX, have filed an appeal notice, seeking to reverse his fraud conviction and 25-year prison sentence.  

According to a Bloomberg report, the notice of appeal was filed yesterday in the Manhattan-based Second Circuit Court of Appeals by the head of SBF’s defense team, Alexandra Shapiro. 

Notably, the appeal will be presided over by a three-judge panel, who will decide whether or not to overturn the decision issued two weeks ago by U.S. District Judge Lewis Kaplan.  

Sentencing and Appeal Process

For the uninitiated, Judge Kaplan sentenced SBF to a 25-year prison term on March 28, 2024. Although the sentence was shorter than the 40 to 50-year range prosecutors sought, it was far greater than the defense team’s recommendation of no more than six and a half years. 

In addition, Judge Kaplan also ordered SBF to pay a whopping $11 billion in forfeiture for the massive fraud at FTX and its sister hedge fund, Alameda Research.

The appeal process could linger for several months to years as the defense team hopes to get a reduced prison sentence for SBF. However, several legal counsels think it would be difficult to convince the Second Circuit to reverse the District Court’s decision.

Some speculate that the odds of winning a successful reversal are less than 10%. Upon the commencement of the appeal litigation, SBF’s lawyers are expected to bolster their arguments to get a favorable outcome for their client. 

However, if SBF’s lawyers fail to secure a favorable verdict at the Second Circuit, they may take the case to the U.S. Supreme Court. 

SBF Legal Woes 

Recall that Bankman-Fried was found guilty of all seven criminal charges in November 2023. The charges relate to the misappropriation of around $10 billion worth of FTX customers’ money, which eventually led to the exchange’s collapse. 

Prosecutors said Bankman-Fried used customers’ money to finance his lavish lifestyle, fund political donations, and repay loans obtained by Alameda Research. In contrast, SBF argued that the exchange lost billions of customers’ funds due to a liquidity crisis. 

During his sentencing, Judge Lewis Kaplan said there is a risk that SBF would “do something bad in the future,” adding that the FTX founder has not been remorseful for his crimes. 

Whether the Second Circuit will uphold Judge Kaplan’s decision or reverse the ruling remains to be seen. 

Shiba Inu: DNS Domain Provider Adds Support for SHIB and BONE Payments on Shibarium

Sam Wisdom Raphael
-
0
Shiba Inu: DNS Domain Provider Adds Support for SHIB and BONE Payments on Shibarium

Leading DNS domain provider D3 Global has expanded its payment options to include Shiba Inu and BONE on Shibarium as part of its latest upgrade.

Amid the growing adoption blockchain and Web3 have witnessed over the years, proponents have begun securing custom-made blockchain-based domain names. D3 Global stands out as a domain name service provider actively facilitating this move. 

The firm provides domain name services to individuals looking to secure Web3 domain names. However, most recently, its latest upgrade now makes provision for payments in Shiba Inu and Bone ShibaSwap (BONE), the governance token of the ShibaSwap ecosystem.

D3 disclosed this in a recent post on X, directing the announcement to the Shiba Inu community. According to the D3 team, market participants can make these Shiba Inu and BONE payments directly from their Shibarium addresses without having to bridge the tokens back to Ethereum.

Notably, SHIB and BONE are native to the Ethereum blockchain. However, Shibarium users looking to leverage the assets would need to bridge their tokens to the layer-2 blockchain. Making SHIB and BONE payments to companies like D3 would naturally require users to bridge their assets back to Ethereum.

D3 Global’s decision to extend the payments to Shibarium eliminates the inconvenience associated with having to first bridge the tokens back to Ethereum. Moreover, this development is especially favorable for customers who prefer to use cryptocurrencies to purchase domain names, rather than traditional fiat currencies.

Pay for Domain Names with Shiba Inu and BONE on Shibarium

An investigation from The Crypto Basic confirms that the platform has already implemented these Shibarium payments as of press time. To leverage the latest feature, follow these steps:

  • Go to D3.app with your web browser, preferably the embedded browser in your Ethereum wallet, such as MetaMask. Ensure the URL is correctly typed to avoid going to phishing sites.
  • Connect your wallet, such as MetaMask or Coinbase Wallet, to D3. If you are using the in-built MetaMask browser, this process should be seamless.
  • Input for the preferred domain name you wish to purchase and add the extension (core or shib). Upon doing this, D3 will specify if the domain name is available or not.
  • If it is available, the platform will show you the cost of the domain name in USD as well as other options that are available for purchase.
  • Pick your option, select how long you want to retain the domain name, add a promotion (coupon) code for discounts if you have any, and select Crypto payments.
  • The platform will direct you to a window to select the currency you wish to pay with, either BONE or SHIB. Select your option and connect your Shibarium address to MetaMask if you have not done so.
Shiba Inu and BONE Payment on D3 Global
Shiba Inu Payment on D3 Global
  • You will then receive a prompt to authorize the payment in either BONE or SHIB. Authorize the payment to complete the purchase of your SHIB domain name.

D3 Global Continues to Support the SHIB Community

In addition to the recent payment method expansion, D3 Global disclosed in its latest announcement that it has now included a feature to implement direct minting to users’ wallets as part of the recent upgrade.

The latest development comes four months after D3 partnered with Shiba Inu to introduce a .shib top-level domain (TLD) last December. Interestingly, the collaboration positioned Shiba Inu as the first crypto project to push toward getting a TLD. 

A month after the announcement, D3 disclosed a special giveaway campaign for Shiba Inu proponents in a move toward supporting the community. The firm looked to give away the private.shib and officer.shib domain names to two proponents.

Bitboy Says XRP and These Six Tokens “Cannot Lose”

Abdulkarim Abdulwahab
-
0
Bitboy Says XRP and These Six Tokens “Cannot Lose”

Crypto commentator Ben “Bitboy” Armstrong has identified XRP alongside Bitcoin among cryptocurrencies that he believes investors cannot go wrong with investing in them.

Armstrong expressed this view recently on X, where he outlined seven cryptocurrencies that he believes are virtually foolproof investments. These include XRP, Bitcoin, Ethereum, Solana (SOL), and SUI.

In parallel, Armstrong pointed out the specific factors that underpin his unwavering confidence in these select digital assets.

Why Bitcoin and Ethereum “Cannot Lose”

As for Bitcoin, Armstrong believes it is common sense to believe BTC cannot lose. Well-known factors supporting this view include its appeal and prominence as the most valuable crypto with a cap exceeding $1.39 trillion. To put it in perspective, this valuation is more than half of the entire value of the crypto market. 

Moreover, more institutional investors are involved with Bitcoin directly and indirectly via exchange-traded funds.

On the other hand, Armstrong suggested that ETH will have an enduring appeal in the digital asset space as it is being recognized as a digital silver, closely mirroring Bitcoin’s digital gold recognition. Additionally, ETH tends to enjoy the same privileges BTC relishes regarding adoption, being its closest rival.

For instance, Ethereum has pending applications for spot ETFs in the U.S. amid the approval for similar investment products with Bitcoin. Considering this factor, Armstrong noted ETH “cannot lose.”

The Case for Solana and XRP 

Armstrong’s confidence in Solana rests in his view that the token is a “pump coin” for venture capitalists. Moreover, SOL has gained explosive traction recently with the launch of multiple successful meme coins on its blockchain.

On the other hand, the analyst’s conviction in XRP stems from the hope that the SEC’s lawsuit is in its final phase. Furthermore, he sees Ripple’s eventual initial public offering (IPO) as having significance on XRP.

In an earlier commentary, Armstrong asserted that XRP holds the greatest promise within the current bullish market. Aside from Ripple’s IPO, he cited other supporting factors, such as the likelihood of an XRP ETF and the possibility of adoption by major U.S. banks.

Others Coins

Ben Armstrong’s roster of ambitious coins also features SUI, given its status as the top blockchain in operation. Additionally, he highlights Pyth Network (PYTH) and Ondo Finance (ONDO) as noteworthy entries due to their focus on real-world asset tokenization.

1...1,4971,4981,499...2,670Page 1,498 of 2,670