Magnificent Seven Stocks Lose $280 Billion as Crypto Market Spikes
The crypto market’s largest assets have noted significant increases even as giant Magnificent Seven tech stocks plunged yestereday.
This news section spotlights emerging altcoins, project updates, tokenomics changes and ecosystem developments driving innovation in DeFi, Web3 and digital assets. Keep track of the next wave of digital currencies before they make headlines—and gain insights that matter in the altcoin sector.
The crypto market’s largest assets have noted significant increases even as giant Magnificent Seven tech stocks plunged yestereday.
Morgan asserts that XRP sales fail to meet at least two of Howey test prongs, making the SEC’s case weak. With the facts apparently not aligning with the Howey framework, he sees little room for the SEC to overturn the earlier judgment.
The US SEC moves on the backfoot as Ripple registers yet another victory in their legal battle.
Coinbase now offers crypto derivatives trading to eligible customers outside of the United States, for BTC, LTC, XRP and ETH.
Coinbase noted that the recent action is part of its efforts to enhance overall market health and consolidate liquidity.
The firm believes the approval of a spot Bitcoin ETF in the United States will trigger an influx of over $30 billion in subsequent months.
Beyond its crypto options offerings, the exchange has set its sights on obtaining a brokerage license in the European Union (EU).
This ruling marked a crucial victory for Ripple, instantly boosting XRP’s price by almost 5%. When Ripple achieved its first victory, although a partial one, in July, the price of XRP spiked from $0.46 to $0.93 in just 10 hours, a stunning 100%+ increase.
The US Treasury Yield has reached levels not seen since 2007 thereby denting the demand for riskier assets such as Bitcoin and altcoins.
Lawyers representing the investors submitted a notice of voluntary dismissal of the lawsuit against Terraform Labs and Do Kwon in the United States District Court for the Northern District of California.
In addition to the 15% price surge, Solana’s total value locked (TVL) reached an impressive milestone on October 2, standing at $338.82 million.
While the recent price surge brought joy to long-term investors and HODLers, short sellers are notably facing a different fate.
Despite this major shuffle by FTX exploiter, Ethereum price has gained to $1,750 levels before the launch of Ethereum futures ETFs.
For reasons best known to Ripple and CEO Garlinghouse, the deal to acquire Fortress Trust is now off despite enthusiasm shown weeks ago.
Though Upbit quickly moved to halt deposits and withdrawals, that decision came after the fake APT token had already made its way into 400,000 Aptos wallets.