The post Ripple’s Legal Win Spurs Crypto Liquidations and Altcoin Rally appeared first on Coinpedia Fintech News
Crypto liquidation amounts surged by nearly $300 million in the aftermath of Ripple’s recent partial victory against the SEC. This development led to the liquidation of over 80,000 traders, primarily due to short positions on Bitcoin, Ripple, and Solana. Although the news prompted a surge in altcoins, Ripple’s XRP coin is still struggling, currently down over 76% from its all-time high in 2018. Surprisingly, the SEC’s allegations regarding certain crypto assets being classified as securities have not hindered their performance. Ethereum, Cardano, Solana, and Polygon’s MATIC token have all experienced significant gains despite these concerns.
