At the core of Ripple’s argument is the legal definition of an “investment contract”. Under US securities law, if a transaction is classified as an investment contract, it can be regulated as a security.
Bitcoin’s dominance in the market has increased to 65%, a level last achieved during the bull run of 2021.
The new name is designed to represent a broader vision beyond just cryptocurrency, focusing instead on global identity solutions.
The SEC's new appeal focuses on certain aspects of the case, particularly Ripple’s sales of $XRP on exchanges and the actions of Ripple’s top executives.
According to data from CoinDesk Indices, Bitcoin is now outperforming other large cryptocurrencies, including those in the CoinDesk 20 (CD20) index, which rose by 9.6% in the same period.
$USDT’s market cap has grown by $28 billion this year, bringing it to nearly $120 billion, and giving it a dominant 71% share of the stablecoin market.
Mass investor exodus, ETF outflows, Mt. Gox repayment concerns, and market-wide declines has fuelled a bearish sentiment for Bitcoin.
After several weeks of upward momentum, the cryptocurrency market has recently seen a notable decline. Its overall market capitalisation has decreased by more than 3% in a single day.
Recently, Ethereum has experienced a bullish surge, crossing the crucial $3,000 mark. This uptick is largely due to major stakeholders withdrawing and staking significant amounts of $ETH.