Cardano

Solana

Cryptocurrency

<p>Ripple&#39;s partial victory against the US Securities and Exchange Commission (SEC) in court has led to a significant increase, up to 90%, in the price of XRP. The court&#39;s ruling that XRP cannot be classified as a security has relieved many altcoins, such as Cardano (<a href="https://en.coin-turk.com/cardano-ada-clings-to-crucial-support-a-glimpse-into-the-future-price/" rel="noopener noreferrer nofollow">ADA</a>), from the burden of being classified as securities. As a result, the price of ADA has also surged.</p><h2 id="header-0">The Court&#39;s Decision in Favor of XRP Benefits ADA</h2><p>The court&#39;s decision in favor of Ripple against the SEC has been declared a partial victory, causing the cryptocurrency market to move upwards. The market&#39;s value has surpassed $1.25 trillion with a 5% increase in the past 24 hours. Altcoins, including those classified as securities by the SEC, have also experienced significant movements. One of these altcoins is ADA, the native asset of Cardano.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/12f604bca3854c019d277a70f9e132c9.jpeg" /></p><p>The rise in the price of ADA, the native asset of the Cardano ecosystem, is a result of the US court ruling that algorithmically generated and traded XRP is not a security. The news has also had a significant impact on ADA, which the SEC has accused Coinbase and Binance of violating securities laws with.</p><p>ADA, which has risen over 20% in the past 24 hours and reached $0.3747, is currently trading at $0.3508 with a slight retracement at the time of writing this article.</p><h2 id="header-1">Could Cardano Be Classified as a Security, as Claimed by the SEC?</h2><p>When the SEC filed lawsuits against Coinbase and Binance, it classified BNB, Solana (SOL), Decentraland (MANA), and Polygon (MATIC), among other leading altcoins, as securities and also filed a lawsuit against the Cardano Foundation.</p><p>Although the regulatory authority did not directly sue Cardano, the negative classification had a significant impact on the network&#39;s native asset, leading to its delisting from several major trading platforms, including Bakkt, eToro, and Robinhood.</p><p>The classification of <a href="https://en.coin-turk.com/critical-threshold-continually-unmet-in-crypto-market-investor-concerns-remain-high/" rel="noopener noreferrer nofollow">Cardano</a> as a security may continue to exert pressure on the asset, as it has been under pressure since Ripple&#39;s lawsuit by the SEC over the past two years, unless it changes in the near future.</p>

Ripple’s Victory in Court Boosts XRP Price, Benefits Cardano (ADA)

Table of Contents

COINTURK NEWS

Other articles published on Jul 14, 2023

Europe First Spot Bitcoin ETF set to Launch this month

XRP Win Is A Win For All Crypto – New Ruling Stops SEC Going After Crypto Exchanges

Is it Time to Invest in Floki Inu, Shiba Inu, and Tradecurve?

Threads Grew Extremely Fast, But User Engagement Metrics Now Trend Down

Monochrome Asset Management Proposes Bitcoin ETF on ASX

CleanSpark Doubles Down on Bitcoin Mining with $55M Expansion

Join our free newsletter for daily crypto updates!