Ripple’s XRP has surpassed Binance’s BNB token to become the world’s four-largest digital asset by market cap after its 66% post-court ruling advance brought its valuation to $41.44 billion, according to CoinDesk data. BNB – which rallied 6.5% in wake of the court ruling – now has a market cap of $40.57 billion. Ripple bulls however, shouldn’t forget the second part of yesterday’s court decision. “The Court has found Ripple to be in violation of securities laws, specifically in relation to direct sales to institutional investors,” wrote CoinShares’ Head of Product Townsend Lansing in an email to CoinDesk. “As such, XRP is not only deemed a security, but questions have arisen regarding the legality of its offering,” he continued. “In regards to these sales, the Court has confirmed that the law was indeed violated, marking a considerable victory for the SEC and setting a precedent for its legal actions against other cryptocurrencies.”
Related posts
-
Investors bet on new altcoin to provide better gains
Disclosure: This article does not represent investment advice. The content and materials featured on this page... -
Ripple’s RLUSD Powers California Wildfire Relief With Crypto Donation
Ripple and Moonpay have made a joint donation of... -
300 Million XRP On The Move: Ripple Labs Sparks Speculation
The cryptocurrency community has taken notice of Ripple Labs as a result of a recent transfer...