Here’s a lowdown of the biggest events in the crypto world last week:
SEC and Ripple Finally Part Ways 😌
The long legal battle between Ripple (the company behind XRP) and the US Securities and Exchange Commission (SEC) finally came to an end since 2020 when it began.
After both parties withdrew their court appeals, the crypto market reacted with massive excitement. Ripple’s XRP was among the biggest winners in the market, increasing by over 11% in the last 7 days to cross $3.2. In contrast, the Bitcoin (BTC) price increased by approximately 4% within the same period.
But what does this development mean for crypto investors?
- XRP sold on public exchanges is not a security. This means the coin is treated as a digital currency like Bitcoin and Ethereum.
- No SEC compliance checks are mandatory when buying or selling XRP. So, retail investors and traders can trade the token without worrying about violating securities law.
- The ruling could pave the way for newer crypto projects to issue tokens like XRP for sale without regulatory concerns of being considered a security.
Analysts are bullish on XRP due to these reasons, predicting that the XRP price could reach $5 by the end of the year. Though institutional investments and inflows will be crucial in determining how high XRP can go.
Trump Admin Gives Ethereum and Altcoins a Boost 🚀
Love him or hate him, but President Trump is fulfilling his promise to drive up crypto in the US. His latest approval of crypto investments in 401(k) retirement is a masterstroke many didn’t see coming — not even Ethereum (ETH), which crossed $4,200 for the first time this year.
The executive order makes it easier for Americans to use their retirement savings to invest in unconventional assets like cryptocurrencies and gold. That means those who prefer to hold Bitcoin, Ethereum, and other coins for long-term retirement gains can now do so conveniently.
The US President also signed a bill threatening to penalise financial institutions for crypto debanking. This new law prevents federal regulators like the SEC and Federal Reserve from targeting financial institutions that engage with the crypto industry.
These regulatory updates shot up the market, with top altcoins surging by double figures over the past week:
- Chainlink (LINK) went up by a massive 35%
- Ethereum (ETH) followed strong with a 20%+ boost
- Dogecoin (DOGE) wagged its way up with an 18% surge
- Solana (SOL) climbed 11%, keeping its momentum solid
- XRP also joined the rally with a 11%+ rise
Altcoins are rallying again and some experts say Trump’s crypto moves have ignited a new altcoin season. But the big question is whether this is the real altcoin season or a fugazi 🤔.
Companies Are Moving Like “Michael Saylor,” But to Ethereum 💼
With fresh regulations removing the “reputational risk” tag around the cryptocurrency industry, more businesses are stacking up ETH in their treasuries — like Strategy CEO, Michael Saylor is stacking up BTC for his company.
A big institutional whale from last week was SharpLink. The company (which has Consensys CEO, Joe Lubin, on its board of directors) announced that it raised $200 million to top up its ETH chest. Looks like the initial $2 billion ETH investment isn’t enough.
While the gaming company leads the way, many other companies are shifting to becoming Ethereum treasuries, and the institutional play could be a major shift for the altcoin.
Is this the best time to buy ETH, XRP, and other hot altcoins before they go higher? Maybe. Maybe not. Either way, always DYOR, and remember this isn’t financial advice 😉.
Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢).
Please do your own research (DYOR) or speak to your financial advisor before making any decisions.
