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Today, Gary Gensler, head of the SEC, speaking before the US Congress, repeated his thesis that the vast majority of digital assets, with the exception of Bitcoin, fall within the definition of securities. He also told Congress that he saw no need to change the existing crypto legislation in any way, considering the issue resolved. What does this mean?
Today’s open interest in Ripple rose to $843 million, the highest since December 2021 (+90%). Despite the rush of speculative interest in the asset on the eve of the decision, we can see that speculators are already starting to take profits. Buying Ripple is still interesting for speculative purposes at a distance of a few days, based on optimism from waiting for the court decision. But the trade requires a lot of caution and immediate position closing in case of negative news!
You have not selected any currency to displayOur good friend Sjuul AltCryptoGems and the AltCryptoTalk team gave their short opinions on the current crypto market and what it could possibly do in the coming year(s).
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P_S_trade analysts believe that the cryptocurrency market will soon enter a period when altcoins will start to fall so much that it will be extremely difficult to have time to buy them all. The downtrend in the cryptocurrency market has been going on for almost 2 years, so the assumption that a global trend reversal is happening now is more than realistic.
For this reason, it is worth paying attention to altcoins, whose price charts are experiencing prolonged consolidation and are approaching their logical conclusion. For example, Band Protocol (BAND). It is a cross-chain Oracle data network that integrates and connects real data and API interfaces with smart contracts.
BAND/USDT prediction:
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