As of 6 a.m. on the 2nd, CoinMarket, a global coin market relay site,
At the cap, Bitcoin recorded $97,127 (approximately JPY 14.61 million), up 0.11% from 24 hours earlier.
In comparison, Ripple, the fourth largest cryptocurrency by market capitalization, surged 13.86% from 24 hours earlier2.
The price of Ripple has exceeded $2 for the first time in six years since January 2018. This brings the total market capitalization to $123 billion.
The most recent reason for Ripple's rapid rise is the resignation of SEC Chairman Gary Gensler.
Since December 2020, Ripple Labs, the issuer of Ripple, has been in a legal dispute with the SEC.
The court ruled in July 2023 that Ripple is not a security when sold to the public on an exchange, but is not a security when offered to institutional investors.
The court also reduced Ripple’s fine from $1 billion to $125 million.
However, Ripple has yet to pay the fine, and they want it to be reduced even further.
In this climate, SEC Chairman Gensler, who has a conservative stance on cryptocurrencies, recently announced his resignation.
This is expected to benefit Ripple the most, as it could see a further reduction in fines.
2024/12/02 11:19 KST
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