Category: Cryptocurrency
AMBCrypto's content is informational and not investment advice. Readers are advised to do their own research before trading cryptocurrencies.
Keywords: AMBCrypto, investment advice, cryptocurrencies
Source: AMBCrypto
Update At: 7/14/2024
Bitcoin's correlation with the S&P 500 has seemingly ended as Bitcoin rallies while the S&P 500 declines. Factors such as U.S. government considerations on chip exports to China and Trump's remarks on Bitcoin's potential as a strategic reserve have contributed to this shift. Investors may start viewing Bitcoin as a new safe-haven asset, while Ethereum's future status remains uncertain despite potential ETF inflows.
Investing.com
ETFSwap (ETFS), Moonbag (MBAG), and DTX Exchange (DTX) are emerging crypto tokens expected to outperform Solana (SOL) in 2024. ETFSwap offers a DeFi platform integrating blockchain and ETFs with a focus on security and privacy. Moonbag simplifies investment in diverse cryptocurrencies through a single token, emphasizing yield farming and staking. DTX Exchange aims to innovate the traditional exchange model with strong security and a variety of trading tools. Each project is gaining traction in the crypto community, with presales attracting significant interest.
Analytics Insight
Donald Trump has shifted his stance on cryptocurrency, previously criticizing it as a scam, to now expressing support for Bitcoin at the Bitcoin 2024 conference, stating he wants America to lead in the crypto space.
Bloomberg
Ethereum's daily active addresses have decreased to around 395,000, following a peak of over 700,000 in June. This decline suggests a slowdown in network activity, with sellers dominating trading as more ETH is moved to exchanges, indicating a readiness to sell. The price of Ethereum has also declined by over 1.4%, marking a bearish trend.
AMBCrypto
Bitcoin's value has dropped below $60,000, hitting a low of $54,640 amid a market-wide sell-off influenced by global economic factors and disappointing U.S. job reports. Despite the downturn, Bitcoin whales remain optimistic, accumulating more Bitcoin. The market faces uncertainty with upcoming Federal Reserve interest rate adjustments and political developments surrounding the U.S. presidential election, which could impact cryptocurrency regulations.
Brave New Coin
A federal judge ruled that XRP is not a security, marking a significant victory for Ripple and the XRP community. While some sales were deemed unregistered securities offerings, the court imposed a $125 million penalty on Ripple, much lower than the SEC's original demand. This ruling provides clarity in cryptocurrency regulation and could influence future digital asset classifications, although the SEC may appeal the decision.
Coinpedia
Ripple Labs was ordered to pay a $125 million civil penalty by a federal judge in a case with the SEC regarding the sale of its XRP token to institutional investors. The SEC initially sought $2 billion, but the court significantly reduced this amount. Ripple's CEO called the ruling a victory for the company and the XRP community, emphasizing the need for regulatory clarity in the cryptocurrency industry. Following the ruling, XRP's value increased by 25%.
pymnts.com
Crypto analyst Doctor Magic highlights three reasons for investors to consider purchasing XRP at this time.
newsbtc.com
XRP's price surged 17% to 65 cents following a settlement where Ripple Labs agreed to pay $125 million in civil penalties to the SEC. The market reacted positively, with trading volumes increasing significantly. Despite the settlement, an appeal from the SEC is anticipated, which may prolong legal proceedings. Other cryptocurrencies showed mixed performance, with Toncoin gaining nearly 6% after being listed on Binance.
Coindesk
XRP's price surged 20% following a favorable ruling in the SEC lawsuit against Ripple Labs, which resulted in a $125 million penalty instead of the proposed $2 billion. This decision was seen as a victory for Ripple and the crypto community, leading to a significant increase in trading volume.
Unchained Podcast