The post Bitcoin Stagnant Just under $35,000, while XRP, BTCS and SOL Rally appeared first on Coinpedia Fintech News
Bitcoin’s recent price action has indicated increased bullish activities that have spread to other decentralized projects in the space. The digital asset typically serves as a leading indicator of the entire crypto market, according to experts and analysts. Bitcoin is still short of its $35k mark, which is the highest price of the digital asset in the wake of the bearish market sentiment that has been reigning supreme since 2022. Subsequently, other projects such as XRP, SOL, and BTCS have recorded exponential growth and massive potential to keep fueling their upsurge. This instant price unrest has caused the crypto community to perceive an imminent bull market that could cause most crypto projects to challenge their 2021 all-time-highs.
SOL price
Solana’s high-performance blockchain lured investments from venture capital firms and institutional investors, causing its market capitalization to grow significantly. The project’s team was devoted to increasing a Web3 infrastructure that offers a competitive opponent to Ethereum. This way, the platform garnered a lot of users and investors worldwide, catching the attention of Sam Bankman Fried, the chief executive of FTX exchange and founder of trading firm Alameda Research. The ties between SBF’s entities and Solana lowered the platform’s credibility, causing investors to flee to other smart contracting platforms. Solana is likely going to make a recovery in the incoming bull market.
XRP Lawsuit
Ripple released a detailed report of the current status of the ongoing legal battle the firm previously had with the US financial watchdog, the Securities and Exchange Commission. According to Ripple, all charges against the firm and its founders were reportedly dismissed with prejudice, implying that the SEC cannot refile the same case in a court of law.
The ruling indicates a years-long battle is coming to an end, dismissing the scheduled 2024 trial. The case has continuously inclined in favour of Ripple after the firm won a July ruling that termed XRP as ‘not a security’ contrary to what the SEC suggested. A recent win involved rejecting the SEC’s appeal to the verdict. These legal developments imply that XRP is a promising digital asset that could yield above-average returns in the incoming bull market.
Is Bitcoin Spark a good investment?
Bitcoin Spark is proving to be an excellent investment for Web3 participants. The project has unique features and characteristics that make it attractive to institutions and retail investors. First, the project is a high-utility platform that unveils incredible transaction speeds at affordable rates. This solves a significant setback, especially to some of the most used digital platforms like Bitcoin and Ethereum. Secondly, Bitcoin Spark is a smart contracting platform allowing devs to dispense decentralized applications that will play a significant role in growing Bitcoin Spark’s finance and asset tracking infrastructures.
Bitcoin Spark’s safety and security protocols make the platform stand out among other DeFi protocols. The developing team is going above and beyond to ensure the platform is not easily hacked, and customer funds are always safe. The team dedicates a lot of time to the ongoing tests to identify potential bugs and challenges that beta testers may face while interacting with Bitcoin Spark’s smart contract execution layer. The team has also partnered with another group of white-hat hackers who will try to compromise the network during the testing period.
Bitcoin Spark also revolutionizes the mining industry by decentralizing the process through its proof-of-process consensus. PoP will involve lightweight mining activities that will be efficiently executed by any willing participant at any time. Opening the mining gates will subsequently lead to an increase in node operators, reducing the chances of self-sabotaging miners from taking over. These and other features propel the project’s achievement. Bitcoin Spark’s ICO is in phase 9 and has enabled the project to raise more than 5 million dollars in just a few weeks.
For more information:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
#PressRelease [Source: Coinpedia]