Important Points:

• The overall market capitalization of cryptocurrencies drops to $2.041 trillion as XRP loses 3.40% in the midst of a wider sell-off.
• Talk of an appeal in the SEC v. Ripple case is heating up; this could effect the stability of the price of XRP.
• The SEC’s decision to file an appeal will determine how much XRP will cost; in the upcoming weeks, volatility is predicted.

XRP Falls During a Cryptocurrency Sell-Off

After dropping 2.20% the day before, XRP fell 3.40% on Tuesday, August 27, finishing at $0.5674. XRP tracked the overall decline in the cryptocurrency market, which experienced a 5.30 percent decline in market capitalization to $2.041 trillion.

Better than anticipated Investor expectations on repeated 2024 Fed rate cuts were put to the test by US economic data, which sparked a widespread sell-off in cryptocurrencies. On Tuesday, investor sentiment was impacted by US consumer confidence. Investor concerns about a hard US landing and the necessity of swift Fed rate cuts to support the economy were probably allayed by an unanticipated surge in confidence.

SEC vs. Ripple: Talk of an appeal heats up ahead of the SEC closed meeting

It has been three weeks since August 7th, when Judge Analisa Torres rendered the final decision in the SEC vs. Ripple case. Regarding whether or not to file an appeal, the SEC has not said anything.

Pro-crypto attorney Fred Rispoli reopened the appeals debate on Tuesday by posing the question,

“Can any securities lawyers provide me with an answer on the likelihood of an SEC vs. Ripple appeal? If Ripple prevails on all fronts against the SEC, would the SEC be required to pay statutory interest on it as well?”

James Farrell, general counsel at AscendEX and a former member of the SEC,

“Saying that typically Ripple would post a bond securing the decision and delay payment while an appeal was pending. The cost of the bond would normally be assessed against the SEC in the event of a loss as part of the appeal’s costs under FRAP 39 (at the 2d Circuit is discretion, just like any bill of costs).”

Farrell continued,

“Even more complicated if the Second Circuit remands for a new trial—for instance, if it determines that certain factual concerns should have prevented the award of summary judgment. All of this presupposes a cross-appeal. Because if Ripple does not file a cross-appeal, it is essentially admitting that it owes $125 million and that the appeals court is powerless to address matters that are not before it.”

Farrell’s remark emphasized the danger the SEC would run if it decides to appeal the Ripple case’s decisions. The decision that Ripple sold unregistered XRP in violation of US securities laws may be contested by a cross-appeal filed by Ripple. A cross-appeal might undermine the SEC’s regulatory strategy by creating a precedent for XRP sales.

A SEC Appeal Could Happen Soon?

On Thursday, August 29, the SEC will have a secret meeting where the Ripple matter may come up for discussion. An appeal might compel Ripple to file a cross-appeal and drag out the litigation until 2025.

Early October is when the 60-day appeal deadline finishes, therefore the appeals process will go on even after the US presidential election. It might be necessary for the SEC to think about the potential effects of an administration change.

The Future of XRP Price Depends on SEC Action

The SEC’s preparations for an appeal will determine price movements. The SEC’s appeal might cause XRP to drop below $0.40. On the other hand, if the SEC decides not to appeal the case’s decisions, XRP may aim to recover to $1.00. The July 2023 Programmatic Sales of XRP judgment caused XRP to spike from $0.4696 to a high of $0.9327.

Investors should be on the lookout because news about appeals will probably affect XRP price movements. Keep yourself informed about XRP and the wider cryptocurrency industry by following our most recent news and analysis.

Price Action of XRP

Every Day Schedule

Bullish price indications were sent by XRP as it stayed above the 200-day and 50-day moving averages.

A bounce back to $0.6000 might be supported by a breakout from the 50-day EMA. Moreover, a bounce back to $0.60 would portend a move up toward the resistance level at $0.6609 and the high of $0.6434 on August 7.

Updates pertaining to SEC vs. crypto cases and SEC activity should be taken into account.

On the other hand, a decline beneath the 200-day and 50-day EMsA would indicate a positive trend reversal and a potential decline below $0.50.

At 46.54 on the 14-day RSI, XRP might drop below $0.50 before going into oversold territory.

Major cryptocurrency tokens, including Dogecoin, Ethereum, Solana, and Bitcoin, were leading the bullish trend of rising trading on Monday.

Ethereum was up 4% at $2,920, while Bitcoin was up 1.2% at $52,311. The value of the world’s cryptocurrency market, however, increased 1.4% in the previous day to approximately $1.97 trillion.

With a more positive perspective, Bitcoin traded at $52,000 throughout the course of the weekend. In order to wait for a longer-lasting rally, bulls are being patient when cashing out their gains. In the event that Bitcoin remains above its present price, $55,000 will be the next target.

Compared to Bitcoin, Ethereum is trending more positively. It has gained 15% over the last seven days and is currently trading at $2,800. A closing above $2,900 would position Ethereum to confront the following barrier, which is $3,000.

Bitcoin keeps becoming stronger as it attempts to breach the resistance level of $53,000. In the short run, any breakout above should push the price to $60,000.

Cryptocurrencies like Internet Computer and Polygon saw increases of 9% and 6%, respectively. Up to 2% was gained by Solana, Dogecoin, Toncoin, Shiba Inu, Polkadot, and Cardano.

8.55% of the 24-hour volume of the cryptocurrency market is now represented by the $5.67 billion total volume in DeFi. According to data accessible on CoinMarketCap, the total amount of stablecoins is currently $60.03 billion, or 90.47% of the 24-hour volume of the whole cryptocurrency market.

The largest cryptocurrency in the world, Bitcoin, saw a rise in market capitalization to $1.027 trillion in the past day. Currently, 51.81% of the market is dominated by Bitcoin, according to CoinMarketCap. The volume of BTC dropped 13.3% to $18.6 billion in the last day.

While ETH is currently at $2.8K, BTC is still at $52K. The current upward trend in Bitcoin price coincided with yields on US Treasury bonds and the US dollar, indicating that institutional demand—rather than being a safe-haven asset—is driving the market. The $52.8K mark is still key resistance for bitcoin; if it is not crossed, there could be another decline. Similarly, if BTC closes below the first significant support level of $51.3K, bearish momentum may prevail.

Warm regards to the WhiteBitcoin (WBTC) Investor and Developer Community.
With great enthusiasm, we proudly announce the momentous milestone of WhiteBitcoin’s (WBTC) 6th anniversary, marking a decade of remarkable growth. The steadfast support, trust, and belief from our investors have played a pivotal role in our journey, leading to the attainment of extraordinary milestones.
In commemoration of this significant achievement, we are delighted to unveil a series of groundbreaking announcements for the years that lie ahead. This goes beyond just a roadmap; it encompasses a spectrum of revelations and initiatives that will shape our trajectory for the next two decades.

First Quarter of 2024: Elevating the VIP Wallet Experience –
Get ready for an unmatched VIP Wallet experience featuring BTC, WBTC, and WEB3! The upgraded version is scheduled to be unveiled on the White Bitcoin (WBTC) anniversary, complete with thrilling new features. Stay tuned for its release on the Google Play Store.

Second Quarter of 2024: Introducing the Web3 Wallet –
In the upcoming second quarter of 2024, we are thrilled to present the Web3 version of the VIP Wallet, accessible on both mobile and web platforms. This unveiling enables our users to effortlessly utilize all VIP Wallet features on both the application and website, ensuring a user-friendly and comprehensive experience.

Fourth Quarter of 2024: Introducing the Advanced Blockchain App, Future & Option Contracts on BELPAY.IO EXCHANGE & Another Exchange –
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First Quarter of 2025 to Fourth Quarter of 2026: Unveiling the NFT Platform on Advanced Blockchain –
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Second Quarter of 2026: Commencing the Second Mining Halving Event –
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Fourth Quarter of 2026: Public Release of Mining Code –
As the year draws to a close, the eagerly anticipated Mining Code will be publicly released, inviting additional Mining Partners to join and further participate in the endeavor.

First Quarter of 2027: VIP Wallet – Conclusion of Block Matching Affiliate Program and Prolonged Staking Program Until 2038 with Reward Halving Process:
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Second Quarter of 2027: WhiteBitcoin (WBTC) Broadening Its Presence Across Multiple Exchanges –
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First Quarter of 2028: Public Release of Development Codes Across All Categories –
Embark on the future with the revelation of development codes made publicly accessible.

Second Quarter of 2030: Third Mining Halving Event –
Embark on the journey of the third Mining Halving, solidifying WBTC’s position in the cryptocurrency world.

Second Quarter of 2034: Commemorating the 4th Mining Halving –
We celebrate another milestone, the 4th Mining Halving, a testament to our commitment to long-term prosperity.

Second Quarter of 2038: Final Mining Halving –
The journey culminates with the last halving, where WBTC will play a crucial role in settling transaction fees for BTC, BCH, BTG, BSV, and NFT on the Advanced Blockchain.
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Nine offshore bitcoin exchanges have received a show-cause notice from the Financial Intelligence Unit after it was purported that they were operating unlawfully in India by disobeying the anti-money laundering legislation of that nation.

In Short
• Nine offshore cryptocurrency exchanges have received show-cause notices from the FIU.
• MeitY has been advised to block the URLs of the nine cryptocurrency exchanges by the FIU.
• The nine bitcoin exchanges have been shut down for breaking the anti-money laundering legislation in India.

Nine offshore cryptocurrency exchanges have received a show-cause notice from the Financial Intelligence Unit (FIU) of the Indian Finance Ministry, which has also requested that their URLs be blocked in India by the Ministry of Electronics and Information Technology (MeitY). The Indian anti-money laundering statute is allegedly not being followed, which is why action has been taken. These nine cryptocurrency exchanges, which include Binance and Kucoin, have been conducting illegal business in India, according to the notification issued by the FBI. Nine exchanges—Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfenex—have been given notice to show reason.

“The Financial Intelligence Unit India (FIU IND) has issued compliance Show Cause Notices to the following nine offshore Virtual Digital Assets Service Providers (VDA SPs) under Section 13 of the Prevention of Money Laundering Act, 2002 (PMLA) as part of compliance action against the offshore entities,” the show cause notice states.

The analyst polled over 20 financial and wealth advisors (RIAs), 75 Coinbase users, and over 200 people to find out who would buy a bitcoin ETF if it were approved, and whether they would prefer bitcoin exposure through an ETF, bitcoin-linked stocks, trusts, or buying bitcoin directly on a crypto platform like Coinbase or Robinhood.

According to Todaro’s survey results, RIAs currently have limited bitcoin offerings for their clients; the majority responded that their current bitcoin strategy is to guide clients to buy directly via crypto exchange (25%), crypto stocks (15%), or GBTC (10%), but most would prefer an ETF if one existed, and the majority of advisors expect 5-10% of their clients to own a bitcoin ETF when it becomes available in 2024 and 2025.

Clients are mainly uninterested in bitcoin and an ETF, according to advisors, although nearly all expect interest to increase if bitcoin values rise further.

According to Todaro’s survey results, anyone who has not already acquired Bitcoin is unlikely to purchase a Bitcoin ETF. Only 11% of respondents who had never held bitcoin before said they were very likely or somewhat likely to buy a bitcoin ETF.

According to Todaro’s findings, an ETF launch is unlikely to attract further capital flows unless it corresponds with higher bitcoin prices/and other engagements, which encourages increased retail interest in the asset.

Individuals who have owned bitcoin marginally preferred buying bitcoin via a crypto exchange/platform to a prospective ETF through an equity brokerage, albeit this varies by age.

40% would prefer to buy an ETF, while 49% preferred to use a crypto platform, indicating that an ETF is unlikely to eat into COIN’s higher-margin trading activity.

With hopes of renewed demand from exchange-traded funds, bitcoin continued its upward trend and hit its highest price since May of last year.

As of 8:11 a.m. (7:31 p.m. IST) on Tuesday in New York, the greatest digital asset had risen as much as 11.5% to above $35,000 before reversing some of the gain and trading at $34,605. This brings its year-to-date recovery from the 2022 digital asset collapse to 108%.

Speculative enthusiasm for the cryptocurrency is being fueled by the potential approval of the first US spot Bitcoin ETFs in the upcoming weeks. BlackRock and Fidelity Investments are two asset managers competing to provide these kinds of products. Bulls in digital assets claim that the ETFs will increase the cryptocurrency’s ubiquity.

Grayscale Investments LLC has won its battle against the US Securities and Exchange Commission to establish a spot Bitcoin exchange-traded fund (ETF) on Monday, according to a US federal appeals court.

Due to concerns about fraud and market manipulation, the SEC has thus far opposed approving exchange-traded funds (ETFs) that make direct investments in Bitcoin. The court decision and a rush of applications from major investors seeking to launch spot funds fueled rumours that the agency might give in.

MicroStrategy, a Bitcoin holder, and trading platform Coinbase Global Inc. see increases of 7.7% and 8.9%, respectively. Riot Platforms and Marathon Digital Holdings, two miners, are each up about 14% so far in the morning session.

According to analyst John Todaro of Needham, “we believe the crypto sector is coming upon an inflection point that will lead, in any of our scenarios, to increasing volatility in crypto-linked stocks,” in a note.

A new survey by digital asset management company Bakkt has revealed that 50% of gig workers are comfortable with receiving part of their pay in cryptocurrency, while 38% said they might consider earning their entire paycheck in digital assets.

Bakkt Chief Product Officer Nicolas Cabrera commented on the survey results, which clearly showed that cryptocurrencies are attractive among gig workers, saying:

“While this group could benefit from a better understanding of how cryptocurrencies can be used, ride-hailing drivers, food delivery drivers and other gig workers are citing crypto as the next generation of currency and are attracted by the potential increase in the value of their pay.”

The study asked 1,018 gig workers from across the US during June and July 2022. The aim of these questions was to reveal the acceptance of cryptocurrencies, the sentiments and opinions of the participants towards payments through cryptocurrencies.

Cryptocurrency Preferences
Among the 50% who said they would be willing to take part of their salary in cryptocurrency, freelancers (writers, developers, designers, etc.) have the highest willingness rate at 62%. Passengers (52%) and grocery shoppers (55%) follow.

Participants gave different answers to the question about the part of the salary paid in cryptocurrencies. 31% of gig workers said they would prefer 20% or less of their paycheck to be paid in cryptocurrency. 34% said they would be comfortable with 20-40%, while 21% said they would prefer to receive 40-60% of their income in cryptocurrencies.

Crypto appeal
The survey also explored why participants preferred crypto payments. Almost half of participants (49%) said the potential increase in salary value is the most compelling reason to get paid in cryptocurrency, despite the current bear market.

Another 26% said they preferred crypto payments because they were issued instantly. On the other hand, almost one in ten (11%) said they see cryptocurrencies as a long-term investment plan for retirement.

According to the numbers, more than half of gig workers said their income was sufficient to meet their living needs, as opposed to a “nice to have” income. Given how they perceive their gig work, their willingness to be paid in cryptocurrency indicates a significant level of acceptance among gig workers.

Crypto barriers
The most significant barrier against crypto payments appeared in education, at 48%. Only 33% of participants rated their knowledge of cryptocurrencies as above average or very high, while almost a quarter (26%) said they were more familiar with traditional investment tools.

Another significantly highly rated barrier emerged with 34% of participants reporting that they still had to pay bills in USD. Another 33% said cryptocurrencies are too volatile and they don’t want to risk having their payout cut.

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Cryptocurrency prices rose for a second day today, with Bitcoin trading above the $23,000 mark

Cryptocurrency prices rose for a second day today, with bitcoin trading above $23,000 and ether-related tokens leading gains, as optimism grows over a long-awaited software update to the Ethereum blockchain network.

The world’s largest and most popular cryptocurrency Bitcoin rose more than 5% to $23,868. The global cryptocurrency market capitalization crossed the $1 trillion mark today as it rose more than 4% to $1.14 trillion in the past 24 hours, according to CoinGecko.

On the other hand, Ether, a coin linked to the ethereum blockchain and the second largest cryptocurrency, gained nearly 7% to $1,714. Meanwhile, Dogecoin was trading more than 5% higher at $0.06 today, while Shiba Inu was also up more than 5% at $0.000015.

Ethereum’s transition from the current system of using miners to a more energy efficient system using staked coins is imminent. The transition to this so-called proof-of-stake system is expected in September.

This week, Ethereum developers signaled continued progress in testing the new system and are holding a series of events for potential stakers and other community members in the coming weeks. Ethereum Classic is up more than 21%.

Other cryptocurrencies also performed better today as XRP, Solana, BNB, Litecoin, Stellar, Chainlink, Apecoin, Avalanche, Polkadot, Tether, Polygon, Tron, Uniswap all traded with gains in the last 24 hours.

Meanwhile, the broader crypto market continued to benefit as traders dialed back bets on a Federal Reserve hike after a grim economic reading fueled fears of a US recession.

US banking regulators have ordered crypto firm Voyager Digital to cease and desist from “false and misleading” claims that its customers’ funds were protected by the government, Reuters reported. Voyager was one of several crypto firms that struggled with the extensive turbulence in the crypto market.

Several crypto companies have filed for bankruptcy or been forced to seek emergency capital infusions. Rising interest rates and high-profile crashes like crypto hedge fund Three Arrows Capital have hit digital tokens this year. Cryptocurrencies such as Bitcoin rose sharply in 2020 and 2021, but have fallen sharply this year.

Cryptocurrencies have proven to be great investments over the years despite many ups and downs in the market. It’s also true that saturated tokens can wipe out your savings overnight. How do you find cryptocurrencies that are really worth investing in?

This article examines the top eight cryptocurrencies that are poised to explode in 2022. Some of them are new to the market, while some are currently in a downtrend. Emerging or established, they are all undervalued right now. It’s time to collect them!

Battle Infinity (IBAT) — The best cryptocurrency to invest in 2022

Lucky Block (LBlock) — The best cryptocurrency with earning potential

Decentraland (MANA) — The best metaversion token

Polygon (MATIC) — The most popular Ethereum scaling solution

Chainlink (LINK) — Connecting the blockchain and the real world

Earthling (ETLG) — Top cryptocurrency with a social mission

Ethereum (ETH) — The most undervalued cryptocurrency

Bitcoin (BTC) — The ultimate digital store of value

Battle Infinity tops our list of the best cryptocurrencies to buy in 2022. As the world’s first NFT-based fantasy sports game integrated with the metaverse, Battle Infinity presents some excellent value propositions. It allows you to build your own battle team and earn while showing off your gaming skills in the metaverse.

Battle Infinity is launching six products. The first is Battle Swap, a DEX that acts as a bank in the Battle Infinity ecosystem. With Battle Swap, you can buy IBAT tokens directly and exchange your rewards for another specified currency. As the DEX is integrated with the game marketplace, game store and arena, transactions on the platform are fast and smooth. Game assets in Battle Infinity are graded by rarity. You can trade them on the Battle Market, an NFT marketplace that lists assets like characters and weapons tokenized using BEP721 smart contracts.