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Speculators took advantage of the day off to buy cheaper Bitcoin and altcoins, paying particular attention to digital assets with significant corporate news. Judging by the size of the record growth within 7%, Ripple (XRP), Terra (LUNA) and Shiba Inu (SHIB) turned out to be the most demanded in the top 30 ranking.
The rise of XRP is paradoxically related to the fact that Ripple is the only protocol among the ten largest cryptocurrencies that can effectively comply with the sanctions of any state.
The network registry contains Freeze functions with a set of freezing tools available to owners of nodes and gateways, the latter owned by exchanges and banks supplying liquidity to RippleNet. To comply with regulatory requirements, court orders, or simply due to suspicious activity, the Ripple company or management may restrict all transactions of any wallet.
This was reminded to the US authorities by Brad Garlinghouse in an interview with FOX, who is now being accused in the case of violating the law of securities when issuing XRP. A number of investors felt that Ripple would help reach a settlement with the US SEC accuser.
The utility cryptocurrency LUNA of the Terra blockchain outperformed Ethereum in terms of network reliability and security. We are talking about the PoS algorithm, which will be launched on the altcoin created by Vitalik Buterin this summer.
According to Staking Rewards, the Eth 2.0 deposit contract has now raised $25 billion to secure proof-of-stake transaction validation. Terra blockchain validators provide security for LUNA’s $27.5 billion stake transactions, ranking second in the PoS cryptocurrencies ranking.
Solana has the first line, but its blockchain is losing popularity due to technical reasons. In addition, the network is still in beta, and Ethereum 2.0 is in phase zero, unlike the stable Terra ecosystem.
The growth of Shiba Inu is not related to corporate news. Speculators are guided by insider information, watching the acquisition of 442.6 billion of these tokens by a cryptokit. As a result, the wallet of the investor under the nickname “Gimli” reached the amount of 1 trillion SHIB.
If we analyze the portfolio of ERC-20 tokens, compiled from deposits of 1000 whale wallets, Shiba Inu reached a share of 16.02%. At this pace, SHIB will come out on top, displacing the service cryptocurrency of the FTX exchange, which occupies 16.89%, from this line.
There could be plenty of reasons for the future growth of the memcoin, ranging from the success of the Metaverse project and the creation of its own game to being added as payment by significant enterprises in the retail sector. Shiba Inu is popular among users as a meme coin – a unique paradox of the cryptocurrency market.
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