A court in the US agrees that Ripple access to the SEC trading regulations. Elon Musk and Dogecoin developers seek to reduce transaction fees by 90%. Magistrate Judge Sarah Netburn approved the request of the company Ripple Labs to access the internal trading policies of the SEC.
From June 21 to 26, 2021, the cryptocurrency market is shown with balances in red. About 100% of altcoins maintain a downward trend following the pattern set by bitcoin (BTC), according to Live Coin Watch statistics.
In the midst of this fall, certain news related to some cryptocurrencies stands out, putting them in a position of greater public interest this week. Under this criterion, the top is headed by Ripple’s XRP, which this week obtained a new advantage in the lawsuit filed with the United States Securities and Exchange Commission (SEC).
Dogecoin (DOGE) developers and Musk promote a proposal to reduce commissions. Shiba Inu (SHIB), is seeing significant growth in its followers on Reddit. The top is closed with Stratis (STRAX), which launches a development kit for Unity games.
The price of bitcoin continues to plummet, although, between rises and falls, it remains lateralized between USD 30,000 and USD 36,000 in recent days. However, this week BTC suffered a drop that took the price below US$30,000, a value that it had not reached since last January.
On average, the pioneering cryptocurrency lost 14.4% in seven days, to trade at US$30,887 at the time of writing. On the other hand, Ether (ETH), the cryptocurrency of Ethereum blockchain, also registered a significant decline. On average, it lost 21.9% of its value. In these seven days, the price moved between US$2,260 and US$1,738.
In this regard, a new report from the analytics firm Glassnode indicates that both Bitcoin and Ethereum, have experienced a dramatic slowdown in the activity on the chain. Particularly noteworthy are the drop in active addresses and the volume of money moved in both networks.
Although the two blockchains are experiencing a negative moment, Ethereum has worse indicators than Bitcoin, according to data from Glassnode. Bitcoin has had a considerable reduction of active addresses (sending or receiving bitcoins).
But, while activity in Bitcoin has fallen to 24% compared to the level of 1.16 million that was largely sustained between March and May of this 2021, the fall in active addresses in Ethereum is stronger in percentage terms, with 30% less than a level seen between April and May.
Meanwhile, the prices of other relevant cryptocurrencies by market capitalization are also falling. XRP loses 25%, while Litecoin (LTC) depreciates by 23%; Polkadot (DOT) drops 34%, and Cardano (ADA) fell by 13%.
Court grants Ripple access to SEC internal policies
On June 23rd, Magistrate Judge Sarah Netburn approved the request of the company Ripple Labs to access the internal trading policies of the United States Securities and Exchange Commission (SEC). The information was released by Ripple’s defense attorney, James K. Filan, through a tweet.
“Defendants’ request to access SEC’s internal trading policies is granted. The Court determines that the requested information meets the minimum requirements of relevance “, comments Filan, who sees in this decision a new point in favor of Ripple.
Throughout a thread of three tweets, the lawyer shared the most relevant details of the decision made by the judge. It explains that the documents the defendants are looking for in this application are relevant because they show how the SEC itself has categorized and classified XRP and other cryptocurrencies, including bitcoin and ether, following its own policies.
“The SEC’s treatment of cryptocurrency trading, including any distinctions it draws between XRP and other digital assets, is directly relevant to showing the SEC’s own perspective on cryptocurrencies,” the message adds.
Meanwhile, the price of the cryptocurrency rises on June 23, after having fallen along with most altcoins.
The price of XRP had been growing since April when the price managed to exceed US$1,500, although it fell again in May. Even so, it is an important advance after the slump he experienced from the lawsuit that the SEC filed against him last December, alleging that the cryptocurrency is unregistered security.
Against this backdrop, various decisions made by judges in recent months appear to tip the balance in Ripple’s favor, influencing XRP’s relative price recovery.
The current capitalization of the cryptocurrency is US$28.06 billion and the daily trading volume is US$2.178 billion.
Dogecoin Developers and Elon Musk Push for Commission Reduction Proposal
Cryptocurrency meme dogecoin (DOGE) made headlines again this week thanks to a tweet from Tesla founder Elon Musk.
Social networks are once again the scene of debate on cryptocurrency. This, once Musk responds affirmatively, via Twitter, to the call from Dogecoin co-founder Billy Markus for the Dogecoin community to keep the coin themed on the “funny and absurd” Shiba Inu dog breed.
Before that, Musk attended the tweet of another of the developers, Ross Nicoll, in which he promotes a proposal to reduce commissions. The developers and Musk intend to introduce fees of 0.01 DOGE. Reducing transaction fees by 90% is one of the key goals, and Tesla’s owner called the idea – originally launched by Dogecoin’s lead developer Michi Lumin – as “a major improvement.”
On this basis, a proof of concept was made on June 23. That same day, the price of DOGE began to rebound after experiencing a major correction from the 20th. By Friday the 25th, the cryptocurrency reaches a maximum of US$0.281, although until the closing of this writing it maintains a downward trend.
DOGE’s market capitalization is US$31 billion and daily trade volume is US$3.257 billion.
Shiba Inu subreddit grows 60% in the second quarter of 2021
The number of registered users on the Shiba Inu (SHIB) subreddit has seen a dizzying growth of almost 60% in the second quarter of 2021. According to statistics from Subredditstats.com, the r / ShibaInuCoin forum had approximately 90 subscribers at the beginning of the month. of April. At the time of publication, the forum has more than 56,000 subscribers.
SHIB was launched at the beginning of April with a price of $ 0.00003 and thanks to the “Dogecoin phenomenon” it registered a meteoric increase of 140% after being listed on Huobi Global, KuCoin, and on the Binance futures markets. More recently the new meme cryptocurrency was incorporated into Coinbase Pro, although some technical issues have been delaying the launch for trading.
In this way, the followers of the token are still waiting for the SHIB trade. Meanwhile, the cryptocurrency remained at constant values throughout the month of June, falling with the rest of the market for June 11 and 23. Despite this, it manages to rebound slightly on several occasions driven by social networks, similar to what happens with Dogecoin.
SHIB’s market capitalization is US$4,136 million and the daily trade volume is US$534 million.
Stratis Releases Unity3D Game Development Kit
A few weeks ago the Stratis team announced the release of the Stratis Unity SDK, a development kit that is now available to all Unity3D game developers, who will be able to create blockchain applications using the Stratis platform.
According to the message posted on its corporate blog, the kit offers expanded Unity 3D support on Stratis Blockchain Technologies, which includes a minimal wallet. This will allow the STRAX token to be used in the creation of games, as well as with the InterFlux Hub interoperability protocol, which facilitates work with Stratis and Ethereum smart contracts, written in C # language.
In this context, during this month the price of STRAX remained on a constant rise until June 11, reaching a maximum of US$1.76 on the 6th. The upward trend recovers after the general fall on Wednesday 23rd. However, the cryptocurrency shows a slight upward trend in the last few hours.
At press time, STRAX’s market capitalization is US$117 million and daily trade volume is US$3.8 million.
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