Cryptocurrency is off to an eventful start in 2023, with some tokens reaching new heights while others face scrutiny. Stablecoins have faced particular scrutiny due to the aftermath of the crypto winter.
XRP, formerly known as Ripple Labs, has been in the news recently due to its lawsuit with the SEC. The platform was accused of selling unregulated securities to the public, valued at more than $1.3 billion. Despite this, the value of XRP recently increased by more than 20% as South Korean exchanges quickly traded the currency.
Another notable achievement in the world of cryptocurrencies is that Bitcoin (BTC) has finally reached its threshold of $28,000. Besides, Big Eyed Coin (BIG) has reached $33 million in presales toward its goal of $50 million.
Bitcoin surges amid positive sentiments
Bitcoin's journey over the past year has been a tumultuous one, with the token plummeting from its all-time high of over $64,000 to just over $16,000, causing many investors to suffer massive losses. Sentiments for the token were bearish until recently, when the collapse of two of the largest crypto-funding banks caused Bitcoin's value to rise.
Investors flocked to the decentralized crypto market, which provides better security and easy access to their assets, causing the value of the token to skyrocket overnight to over $28,000.
This surge has sparked optimism among investors and analysts who believe Bitcoin will cross its $30,000 threshold, with some even predicting a potential $100,000 mark by the end of the year if the token continues to perform as it currently does. Many cryptanalysts had predicted this increase in value, and it finally came true in 2023.
XRP trading soars in South Korea
XRP had come under scrutiny after the SEC filed a lawsuit against the platform, alleging that it had sold more than $1.3 billion worth of unregulated securities to the public. The lawsuit cast a dark cloud over XRP and its future looked bleak. The uncertainty caused a significant drop in the value of XRP, with investors wary of the outcome and their financial security.
However, as the case draws to a close, the SEC has let slip that XRP is likely to become a commodity, just like Bitcoin and Ethereum. This statement had an immediate effect on the South Korean market, with more platforms now trading XRP tokens, including Bithumb, UpBit, and Korbit, trading XRP volumes of 37%, 18%, and 50%, respectively. These exchanges typically have Bitcoin and Ether as key trades, making this anomaly an exciting development for XRP investors.
The SEC statement has a double effect. First, it could potentially decimate the SEC case and make XRP win. Second, the final ruling could introduce bullish results for the token, driving the value up to $1, which investors would find very lucrative.
This push to $1 is entirely plausible, considering the more than 20% growth the coin experienced virtually overnight. If XRP wins, which is very likely, the token will rally and hit this mark.
The GREAT growth and unique features of Big Eyes Coin
Big Eyes Coin, the cryptocurrency that has been making headlines since its pre-sale, has exceeded expectations and surprised investors with its incredible growth. The platform boasts a range of features that are unique and not found on other platforms, offering users lucrative opportunities to earn profit.
Big Eyes Coin is currently experiencing significant growth as it approaches its investment milestones, having raised $33 million of its $50 million pre-sale goal.
One of the notable features of the platform is its Big Eyes Loot NFT collection. Users can collect, mint, and trade these NFTs, earning nice core rewards that can be used in other areas of the site. In addition, users can access various Loot Boxes ranging in value from $10 to $10,000, which have rewards between $500 and $1 million, as well as receiving a 250% bonus when using the code BULLRUN250.
In addition to offering investors lucrative opportunities, Big Eyes Coin is also committed to conserving the environment. The platform has pledged to donate 5% of its total earnings to an ocean conservation project, setting it apart from other cryptocurrencies.
The potential of XRP as a commodity
The prospect of XRP being classified as a commodity has been beneficial for the token as investors see the potential for an uptrend. The outcome of the XRP lawsuit remains uncertain, but the recent SEC statement indicating that XRP may become a commodity has provided a glimmer of hope for investors.
More information about Big Eyes Coin (BIG):
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
