News of cryptocurrencies of the 2nd week of July 2023

Ripple wins case against SEC

The US court did not recognize XRP as a security, which led to an instant increase in its price by 30%. This victory of Ripple Labs calls into question the actions of the US Securities and Exchange Commission (SEC), which is actively fighting cryptocurrencies. Ripple's win has huge implications for future lawsuits and is a significant win for the crypto industry, which has already boosted the market.

A sharp drop in the BTC and ETH volatility index

After the release of macroeconomic data, BTC and ETH did not show significant growth, which led to a strong decrease in the volatility index (Dvol). At the moment, BTC Dvol is 42%, which is almost 10% lower than yesterday's peak values. The short-term index also declined, with the weekly IV approaching 30%. Thus, the level of volatility in the cryptocurrency market is approaching the level observed at the end of last year, and the volatility of the main coins has almost reached historical lows.

Tether additionally printed 1,000,000,000 USDT

Tether increased its market turnover by issuing an additional 1,000,000,000 USDT. This resulted in an increase in USDT's total capitalization to nearly $85 billion.

The growth of the crypto market has a positive effect on memcoins

Memcoins continue to impress with their growth against the background of the general market recovery. Over the past 24 hours, Pepe and Dogecoin have risen markedly, allowing them to exit the stabilization phase and open the way to sustainable growth. At the same time, the new meme project Mr. Hankey Coin (HANKEY) was able to close the pre-sale stage in just 9 hours, attracting the attention of investors and raising an impressive amount of $500,000. This testifies to the great interest and support of the community in new mem-coins.

Whale transferred 4 trillion SHIB ($29.8 million) to 8 new addresses

With SHIB 101.47 trillion, representing 10.15% of Shiba Inu's total supply and a market value of $756 million, the "huge whale" has transferred SHIB 4 trillion ($29.8 million) to 8 new addresses. He did not conduct large transactions for 610 days. In early 2021, he purchased 103.33 trillion SHIB at a price of 38 ETH ($14,000). Shortly thereafter, he sold 603 billion SHIB for 2,411 ETH ($9.6 million) and deposited 1.25 trillion SHIB ($8.77 million) on the Coinbase platform.

Crypto exchange Binance turns 6 years old

Binance, one of the leading crypto exchanges, celebrated its 6th anniversary. The founder of the exchange, Changpeng Zhao, shared important trends in the market, paved the way for the history of the exchange, and presented his vision for the future of the cryptocurrency sphere. Over these 6 years, Binance has come a long way of development. At the very beginning of its existence, the exchange supported only five tokens and offered only two languages, while today it hosts more than 600 different cryptocurrencies.

At the moment, Binance boasts 140 million registered users, 2.4 million Binance Card holders, 11.9 million customers of the Binance Earn staking service. In addition, Binance Labs has successfully invested in more than 200 projects, confirming its active role in the development of the cryptocurrency community.

Ripple CTO warns community about scammers

Ripple CTO David Schwartz warns of potential scams that could exploit the positive news of the lawsuit against the SEC and the popularity of the XRP token. He notes that the decision of the court is not related to the holding of any air drops, draws or special offers.

Schwartz's warning comes from a number of cases of fraud. In March 2020, a fake account of the head of Ripple, Brad Garlinghouse, was discovered on YouTube. The attackers offered users to send from 2 to 500,000 XRP and promised to receive in return from 20,000 to 5 million tokens. In April, Ripple accused video hosting of reputational and brand damage, and in September of deliberate inaction. Also, Twitter users have come across a fake extension for Google Chrome that will steal passphrases to recover passwords. With its help, the scammers managed to steal over 1.4 million XRP.

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