XRP Not Deemed a Security, Polygon Proposes "Polygon 2.0"

Name: FS Insight
Price range: $$$

Jul 13, 2023

BTC -2.22% DXY N/A% ETH -5.34% MATIC -8.16% QQQ N/A% SPY N/A% XRP -5.72%

Market Update Crypto markets are sharply rising after a judge has ruled that Ripple’s sales of $XRP do not constitute an offer of investment contracts. $XRP is up 35% following the announcement, and $BTC (+2.41%) has surpassed $31k and $ETH (+3.46%) is nearing $1,950. $MATIC (+9.80%) is outperforming today after a proposal was submitted to make MATIC a multipurpose token used to validate multiple blockchains. The proposal would have the token rebranded to $POL and would span all the Polygon protocols including Polygon PoS, zkEVM, and Supernets. The below figure shows the potential new architecture for “Polygon 2.0.” Traditional markets are rallying after this morning’s PPI data came in lower than expected, coinciding with yesterday’s soft CPI data, easing inflation fears. The $SPY and $QQQ have risen 0.51% and 0.97%, respectively while the $DXY (-0.58%) has fallen below $100 for the first time since Spring of last year.Google Play has shifted its stance on incorporating digital assets into apps listed on its store. They announced yesterday that they will now allow developers to integrate things like NFTs into games and apps. The policy change will enable unique features for developers, such as NFT loyalty programs or digital ownership of in-game assets. Companies choos

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

FSInsight Puts Ethereum At $12,000 EOY, Bullish Forecast For Bitcoin

Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities

Market Update

By Sean Farrell • Oct 4, 2024

CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...

BTC -2.22% ETH -5.34% RENDER -10.39% SOL -9.24% STX -7.87% TAO -9.67% TIA 2.28% WIF -14.60% XMR -2.03% WULF

Bitcoin will hit $200,000 in the second half of 2022, predicts FSInsight

Visa Unveils Tokenization Platform, SEC Appeals XRP Decision

Market Update

By Tom Couture • Oct 3, 2024

MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -2.22% falling to $60k and ETH -5.34% approaching the low $2,300s. Aptos (APT -0.62% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE -12.98% is also showing slight gains following...

AAVE -12.98% APT -0.62% BTC -2.22% ETH -5.34% TOTAL XRP -5.72%

Invesco ditches its plan to launch a US bitcoin futures ETF any time soon, just before the first-ever makes its debut

Bitwise Files for XRP ETF, Crypto Prices Bounce as Oil and Gold Retrace

Market Update

By Sean Farrell • Oct 2, 2024

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -2.22% climbing back above $61,000 and SOL -9.24% moving above $145, while ETH -5.34% is lagging, trading around $2,400. Among today's outperformers is SUI -8.63% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...