As a seasoned researcher with a keen interest in the ever-evolving world of cryptocurrencies, I find myself intrigued by the recent developments that U.Today has presented.
Check out the top three news stories over the past weekend presented to you by U.Today.
Ripple celebrates another SEC loss: Details
On Friday, August 23rd, the court made a decision in Kraken’s dispute with the SEC, stating that none of the tokens traded on their platform are considered securities. In a jubilant tweet thread, Kraken’s Chief Legal Officer, Marco Santori, declared that the SEC had lost their argument regarding the classification of tokens as securities and would not be allowed to rely on this theory in future cases. This positive development was also praised by Stuart Alderoty, CLO at Ripple, a long-time legal adversary of the SEC, who similarly expressed his thoughts on the ruling via the X platform. In his post, Alderoty emphasized that the Kraken case further solidified the fact that no such thing as a crypto asset security exists. He concluded that this was unfortunate news for the SEC, whose regulatory strategy heavily relies on the flawed premise of classifying cryptocurrencies as securities.
DOGE surpasses SHIB and rest of meme coins in key metric
In a recent X post, Lucie, Shiba Inu‘s marketing lead and vocal SHIB enthusiast, shared a chart of the top 10 meme coins that can boast high activity of their communities on various social media platforms. “Shiba Inu back to second place,” commented Lucie, with the project scoring 20,300 posts, 3.76 million interactions and 3.95% social dominance. Third place was taken by PEPE, the coin inspired by the Pepe the Frog meme; its results constitute 11,300 posts, 1.76 million interactions and 2.35% social dominance. Leading the chart is Dogecoin, the dog-themed token beloved by none other than Elon Musk himself. DOGE stands unsurpassed in all three of the chart’s metrics, with 21,600 posts, 6.63 million interactions and 4.2% social dominance.
Shiba Inu skyrockets 671% in inflows as price on verge of major breakout
According to data from IntoTheBlock, Shiba Inu experienced a substantial 671% rise in inflows into large holder wallets on August 24. This trend suggests heavy buying activity and potentially impending price increases, as these wallets typically accumulate large amounts of cryptocurrency after significant market corrections. Over the past few weeks, Shiba Inu has been fluctuating within a specific price range, leading many experts to believe that this pressure may soon result in a substantial price surge. The recent influx of funds has further fueled speculation about an imminent upward trend. Technical analysts are closely monitoring key resistance levels, as crossing these could trigger a wave of buying and drive the SHIB price up. At present, SHIB is trading at $0.00001469, representing a 3.65% decrease over the past day, according to CoinMarketCap.
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2024-08-26 19:38