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XRP became the fourth-largest cryptocurrency in terms of market cap.
The 24-hour volume exceeded $9.5 billion but traders may need to watch out for a cool-off period.
A few hours after the New York Southern District court ruled in favor of Ripple [XRP], the token’s price exploded. According to CoinMarketCap, XRP climbed by almost 90%, tapping $0.88 in the process.
Is your portfolio green? Check out the Ripple Profit Calculator
The case, which began in 2023, may not have come to an end. But the fact that the judgment noted that XRP was not a security seemed like a step in the right direction for Ripple.
However, XRP’s reaction to the development did not end with its price action.
XRP rules over USDC, BNBRather, the token’s market cap, which stood at sixth place before the announcement, surpassed Circle [USDC] and Binance Coin [BNB]. At press time, XRP’s market cap almost doubled to $42.93 billion.
The rise in the market cap means that a lot of XRP was in circulation thanks to the price increase. Following the news, whale transactions on the Ripple network hit their highest all year long.
According to Santiment, the number of $1 million XPR transactions went as high as 90 on 13 July. On the same day, $100,000 XRP transactions rose to 872. This marked the highest the token had seen in the whole of 2023. That, in turn, resulted in a 1233% volume hike.
However, Santiment’s insight into the Ripple network showed that a number of market participants could have been prepared for D-day. The on-chain analytic platform revealed that addresses that hold between 100,000 to 10 million tokens accumulated 837.81 million XRP since 6 May.
This implies that the cohort had substantial confidence that the ruling would be in XRP’s favor long before the ruling. Besides the activity on-chain, Coinbase announced that it would re-enable XRP trading on its platform.
Socially trading on the prodigal exchangeIn November 2023, the exchange announced that it was delisting XRP alongside a few other tokens. At that time, Coinbase highlighted “low usage” as its reason for the decision.
But less than an hour after the ruling, the exchange announced that the token would be available for trading almost immediately.
Update: Trading is now expected to begin in ~45 minutes, on or after 1:45 PT today, if liquidity conditions are met.
— Coinbase Assets 🛡️ (@CoinbaseAssets) July 13, 2023
However, Coinbase was not the only exchange positively affected by the judge’s ruling. According to CoinMarketCap, the XRP/KRW pair had the highest trading volume on South Korean’s exchange Upbit.
At press time, the volume was as high as 2.31 billion. This hike represents higher liquidity into XRP while enabling strength behind its price action.
In between all of this, XRP’s funding rate maintained a positive reading. Typically, the funding rate shows the periodic amounts paid between short and long traders with open perpetual contracts.
When the funding rate is negative, it means that the larger sentiment is bearish. In this case, short traders pay a funding fee to longs. But since XRP’s funding rate was positive, it implied that traders were mostly bullish and long positions dominated.
Another area where XPR excelled after the judgment was LunarCrush’s Altrank. Designed to access a cryptocurrency’s traction and social engagement, the Altrank compares the performance of an altcoin relative to Bitcoin [BTC].
$XRP has hit the #1 LunarCrush AltRank™ with top combined social and market activity today across the entire crypto market.
The news? A US judge has ruled that #XRP is NOT a security.
— LunarCrush (@LunarCrush) July 13, 2023
Therefore, hitting the top spot meant that no other altcoin matched XRP’s dominance in market and social activity.
Careful! Is this the top?Perhaps, it is necessary to also consider the rate of returns since the price spike. So, in doing this, we look at the Market Value to Realized Value (MVRV) ratio. At press time, the seven-day MVRV ratio was 41.63%.
This ratio measures tops and bottoms depending on the market cycle while considering traders’ buying and selling behavior. When the MVRV ratio surges, it suggests that speculators have a higher market value than holders.
Conversely, a decrease implies that holders have a higher market value than speculators. So the spike may call for caution as it tends closer to the market top, with traders taking realized profits.
Santiment’s 13 July analysis also agreed with this notion. According to the on-chain information portal, the XRP win is undoubtedly a bullish signal.
Realistic or not, here’s XRP’s market cap in BNB’s terms
It also seemed that the possibility had become a reality based on liquidations in the market. For most of 13 July, short suffered as much as $31 million in liquidations, according to Coinglass.
Additionally, long-leveraged positions were also affected as XRP’s uptick dwindled. At the time of writing, long and short forceful position closures were almost equal.
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Crypto Prices: Bitcoin Rebound, Solana Up 15%, Ada, Bnb, Eth, Xrp, Doge
Crypto prices are green today as Bitcoin rebounds and all top 50 cryptocurrencies are up in the past 24 hours.
Solana is the fastest-growing top crypto today with a 15% price increase. Polygon (MATIC) is up 18% and just hanging in the crypto top 20.
Positive crypto prices have taken the crypto market cap to $925 billion after hitting a low of $790 billion on June 18th. The crypto market fell below $1 trillion on June 13th – the first time this has happened since January 2023.
See an overview of today’s crypto prices below.
Bitcoin crypto priceThe Bitcoin price is $21,153.
Bitcoin has risen 6% in price over the past 24 hours. It comes after the Bitcoin price slumped to $17,744 on June 18th – Bitcoin’s lowest local low since December 2023.
The price of Bitcoin recovered above $20,000 on June 19th and has continued to climb above $21,000 today, June 21st. The Bitcoin price has fallen 54% year-to-date after beginning in 2023 at $46,700.
Ethereum crypto priceThe Ethereum price is $1,153.
Ethereum has gained 7.6% in price over the past day. The price of Ethereum plummeted to $898 on June 18th before quickly recovering above $1,000 on the same day.
The price of Ethereum is still the lowest seen since January 2023. Ethereum has dropped 69% year-to-date after beginning 2023 at a price of $3,722.
EverGrow Coin crypto priceThe EverGrow Coin price is up 15% in the past 24 hours. The price of EverGrow Coin (EGC) is $0.0000001412.
EverGrow Coin is the top reflection token with more than $37 million paid to investors in BUSD stablecoins since launching in September last year. EverGrow Coin fell to a low of $0.0000001138 on June 18th before a swift recovery.
EverGrow Coin is down 83% year-to-date after beginning the year at $0.0000008214.
BNB crypto priceThe BNB price is $222.80 today.
BNB is up 9% in the past day and has nearly erased its losses over the past week. BNB fell to a local low of $185 on June 18th before rallying above $200 by June 19th.
BNB is down 57% in price year-to-date after beginning 2023 with a crypto price of $517.
Cardano crypto priceThe price of Cardano is $0.4977 today.
The ADA price is up 7% in the past 24 hours. The Cardano price fell to a low of $0.4239 on June 18th before recovering rapidly. The current price for Cardano (ADA) is the lowest seen since January 2023.
Cardano is down 63% year-to-date after starting 2023 with a crypto price of $1.33
XRP crypto priceThe XRP price today is $0.3294.
XRP is up 3% over the past day and is up 4% over the past seven days. XRP fell to a low of $0.29 on June 18th before erasing its losses by June 19th.
XRP is down 61% year-to-date after beginning 2023 with a crypto price of $0.84.
Solana crypto priceThe price of Solana today is $38.11.
Solana has gained 15% in price over the past day and is up 26% in price over the past week.
Solana appears to have suffered the least in the past few days, after hitting a low of $27.5 in price on June 18th and then recovering its losses in the same day.
Solana (SOL) is down 78% in its crypto price year-to-date after starting 2023 at $173.
Dogecoin crypto priceThe Dogecoin price today is $0.06257.
Dogecoin (DOGE) is up 5.5% over the past day and 10% over the past week. The Dogecoin price collapsed to $0.5 on June 18th before a strong recovery to over $0.62 by June 19th.
Dogecoin is down 63% in crypto price year-to-date after beginning 2023 at $0.17.
This concludes an overview of the top crypto prices today, June 21st.
Sparklo (Sprk) Surges As Aptos (Apt) And Flare (Flr) Drop
New comer cryptocurrency, Sparklo (SPRK) continues to make waves in the crypto industry stealing the attention of investors. The project displays an idea and system that shows it has potential as a result, several investors have been engaging in its presale.
Though new, Sparklo (SPRK) is ambitious and has proven to be committed to its course. The token is working to secure its place on the list of ‘Top 100 cryptocurrencies.’ As old cryptocurrencies on the list continue to plummet, they make this ambition more attainable.
Aptos (APT) Plummets After UnlockAccording to chúng tôi data, Aptos (APT) fell -6.91% in the last 24 hours to $10.23 at the time of writing.
The impending unlock of 4.5 million APT tokens, which analysts said would boost the selling pressure on the asset, was a major factor in the value decrease. The unlock is estimated to be worth roughly $50 million based on current values, according to DeFillama statistics.
According to data from CryptoSlate, the unlock would bring APT’s circulating supply up by 0.5% to 186 million tokens. Between the first three months of the year, the blockchain network has already experienced three unlocks in tranches of 4.5 million each.
Things are not looking well for the layer-1 blockchain network coin right now, and could get worse when the entire unlock is released.
Flare (FLR) Coin suffers Lose as Airdrop DropsOn January 9, at 23:59 UTC, the eagerly anticipated Flare (FLR) token airdrop occurred, causing a significant 83% drawdown during the subsequent 24 hours.
Flare(FLR) started trading in January 2023 and managed to reach an all-time high of $2.26 on May 1 of that same year. Since then, it has been mired in a macro-downtrend that roughly corresponds to larger market events, such as the FTX sell-off in November.
The first sign that trouble was developing came on January 8; an 18% drop that ended the day at $0.451838. On January 9, the selloff resumed, resulting in a 42% loss for the day. Currently Flare (FLR) is down by -0.48%
Sparklo (SPRK) to Release Aptos (APT) and Flare (FLR) on The Top 100 Cryptocurrencies ListSparklo will be the first blockchain investment trading platform to focus solely on silver, gold, and platinum. Each investment generates and fractionalizes an NFT, which users can then use to invest in other projects.
The silver, gold, and platinum investments will be stored in legally recognized bullion storage facilities monitored by expert vault operators who are among the greatest suppliers of secure transportation and precious metal vault services in the world.
Sparklo is now in the first stage of its presale. This is a once-in-a-lifetime chance for cryptocurrency lovers and investors. This ground-breaking initiative, priced at only $0.015 per token, features a revolutionary tokenomics structure that sets it different from the competition. Sparklo is ready to create waves in the crypto industry, with a strong focus on sustainability, security, and scalability.
Investors who participate in the presale have early access to this game-changing digital asset, boosting the possibility of huge returns as the project develops popularity. Sparklo is also supported by a devoted and experienced team of developers and industry professionals that are committed to seeing the project through to completion.
Find out more about the presale:Economic Effects Of The Maastricht Treaty
Maastricht Treaty
An international agreement that led to the formation of the European Union
Written by
Andrew Loo
Published June 19, 2023
Updated February 8, 2023
What is the Maastricht Treaty?The Treaty of the European Union (EU), which is commonly known as the Maastricht Treaty, is the international agreement that led to the formation of the European Union. The treaty was signed in 1991 by twelve member states and became effective in 1993.
The EU is essentially a political and economic bloc. The political aims broadly include shared European citizenship and the upholding of liberal democratic values. The economic aims broadly include the establishment of a free trade zone and an economic cooperation zone.
Key Highlights
The Treaty of the European Union (EU), which is commonly known as the Maastricht Treaty, is the international agreement that led to the formation of the European Union.
The treaty set forth certain criteria to be followed by all member states for the fulfillment of the goals of a political and economic union.
EU MembershipThe Maastricht Treaty required each member state to vote to approve the formation of the European Union. It was signed into effect on February 7, 1992, and it’s been amended with several other treaties that dictate the functioning of the European Union over the years.
The original twelve member states of the EU were West Germany, Denmark, Ireland, Belgium, Italy, Luxembourg, France, Netherlands, United Kingdom, Greece, Portugal, and Spain. As of 2023, the European Union lists a total of 28 members.
The Euro is the official currency of 19 countries in the European Union. It means that the European Central Bank (ECB) sets the monetary policy and print the single common currency for the member countries.
Once the EU was formed, every national of each of the member states was granted citizenship of the European Union. It meant the freedom of movement, residence, and the right to contest in local and EU elections.
The European Monetary UnionThe European Monetary System, which was created in 1979, aimed to promote monetary stability among all its member nations as its primary goal. Later on, the creation of the European Monetary Union (EMU), aimed to solidify the goal into a reality, especially with a common currency.
The Maastricht Treaty set forth certain criteria to be followed by all member states for the fulfillment of the same. They needed to consider the problems of the disparities among real exchange rate convergences of the member states, and more importantly, the difference in fiscal imbalances of the members. Thus, for the convergence of the economies, the following goals were set:
1. Price stabilityThe inflation rate of any member state cannot exceed by a set variable inflation rate of the three countries with the lowest inflation rates in the region. The set variable was an inflation rate of 1.5% as measured by the Consumer Price Index.
2. Reasonable and responsible interest ratesThe long-term interest rates of each state cannot exceed by a set variable, the average inflation levels in the three countries with the lowest inflation levels in the region. The variable was set to 2%.
3. Sustainable and responsible public financeThe general budget deficit of each member state may not exceed more than 3% of the gross domestic product. Moreover, the total government debt of the country must not exceed 60% of the gross domestic product.
It was important because even though the ECB would take hold of monetary policy in member states, sovereign states would still be autonomous in relation to fiscal policy.
4. Stable exchange ratesThe currencies of all member states must remain in the normal fluctuation margin.
The formation of the EMU created a common monetary and economic union, a central banking system, and gave its members a common currency.
In 1998, the ECB was created. It means that the conversion rates between the currencies of member states were fixed as a prelude to the euro, which began circulating in 2002. The main aim of the ECB is to maintain price stability in the region, i.e., to safeguard the euro’s value.
The formation of the eurozone led to increased cooperation between member states as it enabled the free movement of capital. It also led to increased cooperation between the central banks of member states and the ECB, which now dictates monetary policy to all members.
Additional ResourcesEurozone
European Central Bank
Fiscal Policy
Economic Union
See all economics resources
Ripple : On Regulatory Heat, Crackdowns, And The Way Forward
Blockchain policy specialists’ opinions differ as per the crypto regulatory clampdown despite XRP’s long-standing SEC case.
The U.S. Congress intends to look into the recent operation.
The recent hostility shown in the crypto sector could be vital to Ripple’s [XRP] final result in its battle against the SEC.
The final regulatory choices might have the most effect on XRP because it has been the most notable cryptocurrency subject to bureaucratic command.
Realistic or not, here’s XRP’s market cap in BTC terms
Andrew Hinkes, who is a blockchain lawyer, stood firm on his opinion that the Illinois Senate bill would negatively affect the blockchain strides in the country.
If you thought that was bad. Get ready to #Illinoize your blockchain! Yes, #Illinois is going to force you to re-write your blockchain- specifically by including smart contract code capable of responding to court orders. And if you don’t, you can be sued /10
— Drew Hinkes (@propelforward) February 19, 2023
On February 9, the Illinois Senate introduced the bill aimed at protecting digital property and blockchain transaction rights.
But Hinkes maintained the bill did not consider the protection of validators, miners, and node operators. Referring to some section of the bill which imposes fines on the parties above, Hinkes noted,
“The manner in which it seeks to protect consumers is to require node operators miners & validators to do impossible things, or things that create for themselves new criminal & civil liability at pain of fines.”
However, XRP’s on-chain condition over the last one month has not been the best. Despite notable hikes in active addresses in January, it had failed to replicate the performance.
At press time, the 30-day active address was down to 254,000.
This means that there has been a reduction in the number of sending and receiving wallets on the Ripple network. Moreso, the XRP circulation within the same period had decreased drastically.
An explanation of the state, as shown above, could point to caution exercised by investors due to the recent crackdown.
On the other hand, Jake Chervinsky, supported the regulatory heat, noting that policy might be necessary due to the way the FTX collapse happened.
Yes, it’s a regulatory crackdown.
The agencies were caught off-guard by FTX and 2023’s other failures, so now they’re overcorrecting with harsh enforcement and restrictive rulemaking.
They’re taking their pound of flesh, and it hurts.
No, it’s not the end of crypto in the US.
— Jake Chervinsky (@jchervinsky) February 19, 2023
Is your portfolio green? Check out the Ripple Profit Calculator
Halts spreading like wildfireMeanwhile, Ripple’s general counsel Stuart Alderoty shared a Wall Street Journal report on the continuously broken relationship between banks and crypto firms. The news platforms referred to the recent repression, saying,
“Banks that kept their distance from crypto are trying even harder to stay away, closing accounts and shunning customers with potential connections to the industry.”
However, Senator Bill Hagerty tweeted that he had a clue about the challenges.
He mentioned that the current regulatory operation could destroy legal business while using banks as tools. But he also assured that the U.S. congress would look into the matter.
Make no mistake, this Operation Chokepoint 2.0 is an extreme overreach from the banking regulators, and they should expect to hear from Congress soon.
— Senator Bill Hagerty (@SenatorHagerty) February 17, 2023
At the time of writing, XRP exchanged hands at $0.394— a 3% decline in the last 30 days.
Polygon (Matic) And Xrp (Xrp) Investors Find Safe Haven In Tms Network (Tmsn)
Finding a secure and reputable platform in cryptocurrency investing is critical for investors. TMS Network (TMSN), a decentralized trading platform that aspires to disrupt the traditional trading industry, has recently been a popular destination for Polygon (MATIC) and XRP (XRP) investors. TMS Network has attracted the attention of these investors with its unique features and dedication to tackling industry concerns, giving them a platform they can rely on.
Polygon (MATIC) and XRP (XRP) Lose Investors:Polygon (MATIC) and XRP (XRP) are two prominent cryptocurrencies that were once favored by investors but have recently experienced significant setbacks, resulting in a loss of confidence among their respective investor communities. The price of Polygon (MATIC) has been affected by overall market volatility and regulatory concerns, prompting investors to seek alternative investment options.
Similarly, XRP (XRP) has encountered regulatory challenges that have raised uncertainties and eroded investor trust in the cryptocurrency. These regulatory obstacles have damaged the market performance of XRP (XRP), pushing investors to look for new investment opportunities. The loss of trust in Polygon (MATIC) and XRP (XRP) has caused investors to rethink their plans and look for platforms that provide a more dependable and safe environment for their crypto assets.
As a result, Polygon (MATIC) and XRP (XRP) investors have begun looking for alternate investment alternatives. They are now exploring platforms like TMS Network (TMSN), which has gained recognition as a trustworthy and robust decentralized trading platform. TMS Network’s unique features, commitment to addressing industry challenges, and emphasis on security make it a great alternative for investors who have been disheartened by the setbacks faced by Polygon (MATIC) and XRP (XRP). Its decentralized trading platform, revenue-sharing opportunities, comprehensive educational resources, and focus on security make it an attractive option for investors seeking to rebuild their portfolios.
By diversifying their investment portfolios and considering platforms like TMS Network (TMSN), Polygon (MATIC), and XRP (XRP), investors hope to regain the stability and confidence they once enjoyed. TMS Network (TMSN) presents itself as a promising platform that aligns with their needs, offering them the potential for stability and growth. By embracing TMS Network (TMSN), Polygon (MATIC), and XRP (XRP), investors can regain their confidence in the cryptocurrency market and position themselves for future success.
The Rise of TMS Network (TMSN): Why Polygon (MATIC) and XRP (XRP) Investors Embrace the PlatformOne of the primary draws of TMS Network (TMSN) is its decentralized trading platform, which enables users to trade various asset classes using crypto payments. This makes it possible to trade without dealing with the complications of using fiat currency. Additionally, holders of TMS tokens receive a portion of the platform’s trading volume through commission revenue sharing.
Additionally, TMS Network (TMSN) emphasis on trader education separates it from other exchanges. The platform offers trading classes for traders, equipping them with knowledge and the ability to make informed trading decisions. TMS Network (TMSN) gives its investors the confidence to navigate the volatile cryptocurrency market by providing technical analysis, fundamental analysis, risk management, and more.
The community-driven nature of TMS Network (TMSN) and its voting rights for token holders create a strong sense of community. Investors in Polygon (MATIC) and XRP (XRP) who are looking for platforms that give them a voice in the platform’s development and prioritize inclusivity like this aspect.
To onboard, users just need to purchase the TMSN token, which is currently in presale. TMS Network (TMSN) is poised for a strong year, with over 100x returns for early investors.
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