Disclaimer: The text below is a press release that was not written by Cryptonews.com.
There are over 17,000 cryptocurrencies listed on CoinMarketCap, and almost all of the major projects have enjoyed a good start to February. Every coin in the top 10 by market capitalisation is up by more than 10% in the last week. The market-leading duo of Bitcoin (BTC) and Ethereum (ETH) have increased by 21% and 24% respectively. Given that the two major cryptocurrencies have a 60% dominance of the crypto sphere, the rest of the market tends to follow the pattern set by BTC and ETH.
Ripple (XRP) is ranked 6th and has a market cap of north of USD 40 billion. It has not always followed the patterns of the market, but for several reasons, it is experiencing substantial growth. Seesaw Protocol (SSW), which is yet to be launched but has started its presale, is outperforming almost every leading cryptocurrency.
After New SEC Case Developments, Ripple (XRP) Soars
Ripple and its native token XRP have had a tumultuous time since being taken to court by the Securities and Exchange Commission (SEC) in December 2020. Almost every notable cryptocurrency reached new all-time highs in 2021, and although there were some short-lived price increases, XRP’s peak remains USD 3.84 from January 2018.
Over the last 7 days, XRP has joined the rest of the market in a large upward trend. Between the 3rd and the 9th of February XRP rose 55%. This was due to developments in the Ripple v SEC case. US District Judge Analisa Torres leaned in favour of Ripple when it came to a series of disputed sealed documents. Judge Torres ruled that the documents, that concern whether or not XRP was issued and sold as an unregistered security and form the crux of the SEC’s case, should be opened.
General Counsel for Ripple, Stuart Alderoty, said of the documents: “they will show that in 2012 Ripple received a legal analysis that XRP was not an investment contract…(we) look forward to the public having access to these documents as we continue to vigorously defend this case.”
XRP often reacts to news in the case and its holders will hope this latest spike both lasts and leads to more sustained rises as the case develops further. Its current price of USD 0.84 means the next big test will now be if it can break the big psychological barrier of the USD 1 mark.
Seesaw Protocol (SSW) Presale Price Goes Up and Up
Seesaw Protocol (SSW) remains in the first stage of its presale, and yet, has increased in price by an astonishing 600% as of the 10th of February. Having started its presale at USD 0.005, SSW currently stands at USD 0.035. There are two weeks remaining in Stage 1, for which there is a 7% SSW bonus for each investor. In months 2 and 3 of the presale, there is a 5% and 3% bonus. For this reason and others, including the multiple precedents where early investments have made millions for backers, SSW looks to be a project to keep an eye on.
Enter Presale: https://presale.seesawprotocol.io/register