Last week we saw a number of interesting developments regarding altcoins. Were you too busy to keep an eye on the news? In this article we briefly review the news about Ripple (XRP), Chiliz (CHZ) in Cardano (ADA).
Ripple (XRP) Investors Want To Participate In Lawsuit, Judge Says No
This week, John E. Deaton, an attorney, served a motion to intervene. The lawyer wanted to join the main lawsuit between Ripple and Securities and Exchange (SEC) on behalf of 6,000 XRP holders. XRP investors were hit hard by the demand. The value of the altcoin fell dramatically.
In related news, the SEC wants access to financial data from Ripple bosses Brad Garlinghouse and Chris Larsen. These data were requested from six different banks. It remains to be seen if the SEC has the right to do this, Ripple, of course, is trying to thwart this action with various motions. In the same update It should also read that the judge rejected Deaton’s earlier request.
Chiliz (CHD) more than 1,000% in the air, what was behind it?
The CHZ cryptocurrency has risen very fast in the last month. This probably has to do with the explosion of NFT advertising. This revolves around unique tokens that exist on the blockchain and can be linked to unique digital collection projects.
At one point, CHZ was standing not less than 1,500% on the plus! Socios.com, which runs in Chiliz, has also made several major collaborations with major soccer clubs. Manchester City was a club who recently joined.
Cardano (ADA) soars after listing on Coinbase Pro and Coinbase.com
Another altcoin to air this week was cardano. ADA has been for the last few weeks often in the news due to major updates coming up. However, ADA was not yet listed in the popular cryptocurrency exchange Coinbase. That changed this week.
That news about the listing resulted in an increase of more than 40%. After the ADA appeared on the list, one was clear sell the news effect. After all, ADA fell dramatically in the very hour of the listing! However, sentiment about the project remains positive. Charles Hoskinson, founder of the project, said this week that the project “on the eve of big business in Africa“Express.
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