If you are a busy bee with little time to spare to catch up on the news. You have landed in the right place. We have curated the latest highlights in Altcoin News.
1. The absence of stablecoin premiums in Asia and the activity on the futures markets, despite the 8.5% weekly rise in cryptocurrency prices, indicate purchasers’ lack of trust. Even when the entire cryptocurrency capitalization crossed the $1 trillion threshold, traders needed more confidence due to the lack of stablecoin demand in Asia and mixed perpetual contract premiums.
2. Following Elon Musk’s acquisition of Twitter, DOGE’s price surged 98.5% in the last seven days. It propelled the cryptocurrency to eighth place globally in the rankings of cryptocurrencies. Additionally, 62% of Dogecoin (DOGE) owners saw their investments turn a profit amid predictions that Musk’s purchase of Twitter may be advantageous for the meme token.
3. Amid its protracted legal dispute with the Securities and Exchange Commission (SEC), Ripple Labs has received backing from the US-based crypto advocacy group Blockchain Association, which asserts that the case could be crucial for the future of the crypto industry. According to the Blockchain Association, the case offers the industry a chance to oppose what they see as the “SEC’s regulation by enforcement agenda” and could pave the way for more contemporary norms in the sector.