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SEC Considers Potential Appeal Following XRP Win, Gensler Expresses Disappointment

The Crypto Basic

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SEC Chairman Gensler addresses the implications of the Ripple case ruling regarding XRP, expresses disappointment, and hints at potential actions.
Read more on: https://thecryptobasic.com/2023/07/18/sec-may-appeal-against-xrp-win-as-gensler-expresses-disappointment-in-court-decision/

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#Dogecoin , despite its meme-based origin, continues to rank among the most prominent crypto assets in the market, with a valuation of $61 billion. This market cap places it ahead of utility tokens like Cardano (ADA) and Tron (TRX). With Dogecoin trading at $0.4010 at press time, the meme coin boasts a 60-day gain of 252%, far outpacing the 45% growth seen in Ethereum and Solana. As the crypto bull run continues with nearly a year left, Dogecoin is expected to perform even more spectacularly. Notably, the global crypto market cap currently stands at $3.65 trillion, with Dogecoin at $61 billion. This article explores Dogecoin’s potential price and valuation in a scenario where the global market cap reaches $15 trillion. Dogecoin Price with $15 Trillion Global Market Cap Notably, with a market cap of $61 billion, Dogecoin currently makes up 1.67% of the global crypto market cap, which is $3.65 trillion. For the global crypto market to reach $15 trillion, it would need to grow by 310%. As a result, Dogecoin could achieve a market cap of approximately $250 billion, particularly if the meme coin maintains its current dominance and circulating supply. In this case, a $250 billion market cap would correspond to a price of $1.70 per Dogecoin. For market participants holding Dogecoin at its current price, this would represent a 3X growth in their portfolio. #CryptoNews🚀🔥"

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#Cardano founder Charles Hoskinson has criticized Wyoming Token Commission executive director Anthony Apollo for ignoring Cardano and XRP in the stablecoin project. Hoskinson has been vocal about recent developments in the Wyoming stablecoin project. For context, the agency announced nine chains where Wyoming would issue the imminent state-backed stablecoin, including networks like Ethereum, Stellar, and Sui. However, the major shock came when the project did not include Cardano, Bitcoin, and XRP as networks that could accomodate the stablecoin. The decision did not bode well with Hoskinson, who has repeatedly cited a bias. Cardano Founder Taunts Apollo In a tweet today, Hoskinson taunted the Wyoming Token Commission’s head, Anthony Apollo, for the snub. He reposted a tweet from a Cardano enthusiast, stating that the executive director overlooked Cardano and XRP but chose Ethereum because he knows a lot about the network. The Cardano founder stated that his knowledge came from his time with Consensys, one of the core developers of the Ethereum network. He implied that Apollo was biased in his decision to include Ethereum and snub Cardano. Notably, the response came to a tweet from Stake With Pride, one of the Cardano ecosystem’s SPOs and Dreps. The user shared a clip from the December 13 Wyoming Joint Appropriation Committee meeting, where Apollo insinuated that Cardano is centralized. #CryptoNews🚀🔥V

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#XRP fair market value exceeds the $122,000 price mark, according to an assessment from the Collateralization model from Valhil Capital. XRP has been one of the top performers over the past six weeks, having recently reclaimed and retained the $2 level. Despite this, some commentaries suggest the altcoin still trades below its fair market value due to several factors contributing to price suppression. The Collateralization Model Notably, last year, venture capital firm Valhil Capital compiled several models seeking to assess XRP’s fair market value under certain conditions. Interestingly, a bold valuation model, the Collateralization Model, suggests that XRP could has a fair market value of $122,580. This evaluation sees a future where global financial systems are tokenized, and XRP becomes the foundation for collateralizing assets worldwide. Developed by Valhil Capital, the model examines the total global wealth and tokenization’s impact on XRP’s role as a store of value. Interestingly, the Collateralization Model assumes that all global assets, including real estate, derivatives, central bank reserves, and commodities, are tokenized on the XRPL, the underlying blockchain for XRP. The Ripple CTO David Schwartz already confirmed that the XRPL is pivoting to RWA tokenization. This ambitious scenario sees a future where blockchain technology represents the full spectrum of global wealth. Notably, the goal is to determine XRP’s value as a universal collateral asset in a highly interconnected, tokenized financial system. Further, the methodology stresses XRP’s ability to secure assets rather than drive transactions. The model’s assumptions include full tokenization of global wealth and the use of XRP to collateralize this value. #CryptoNewsUSA

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