Data from DeFiLlama shows that TVL on Solana jumped from under $250 million at the beginning of the year to more than $6.8 billion by 24 October.
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 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.
The approval, given by US Bankruptcy Judge John Dorsey on 7 October, allows FTX to use up to $16.5 billion of recovered funds to repay customers who lost their money.
In total, the company has spent 5.965 billion yen (around $40.32 million) on its Bitcoin portfolio, at an average price of ¥9.33 million ($62,906) per $BTC.
By using $PYUSD, PayPal aims to show how stablecoins can help companies make instant payments without the delays often associated with traditional financial systems.
As this appeal moves forward, the status of Ripple’s cryptocurrency, $XRP, remains uncertain.
