Bitcoin and the broader crypto market have started to pick up slowly following the recent marketwide decline. This market recovery comes amidst Ripple CEO Brad Garlinghouse, revealing in an interview that his firm got a big win in its ongoing legal battle against the Securities and Exchange Commission (SEC).
Ripple CEO Reveals Big Win Over The SEC
Garlinghouse, while speaking as a guest on Chris Vasquez’s World Class Podcast, mentioned that the biggest win in their lawsuit against the SEC came when Judge Analisa Torres ruled that the company’s secondary XRP sales weren’t securities. He claimed that moment wasn’t just a big high for Ripple (XRP) but for the crypto industry in general.
Judge Torres’ ruling finally provided legal clarity to Ripple (XRP), as the lawsuit was known to have placed an embargo on the crypto token’s growth. As Garlinghouse said, this wasn’t just a win for Ripple (XRP) but for the broader crypto market, as the ruling has had far-reaching impacts on the ecosystem of other crypto tokens.
The impact of the ruling was recently evident, as Ethereum (ETH) and the broader crypto market were unaffected by the news that the SEC had considered the second-largest crypto token a security for a while now. Usually, this would have caused crypto prices to plummet. However, investors understand that Ethereum (ETH) is unlikely to be a security since the court has already ruled that Ripple (XRP) isn’t one.
As such, Bitcoin (BTC) and the broader crypto market have continued to make an impressive recovery despite the heightened regulatory scrutiny from the Commission. This market recovery is more vital for altcoins like ETFSwap (ETFS), which have already shown their intention to mount an unprecedented run once the sentiment among investors becomes bullish again.
ETFSwap (ETFS) On The Move Again
ETFSwap’s ETFS has begun to make another parabolic run to the upside following the recent market recovery. The crypto token’s value has surged by over 200% in the last seven days, and this upward trend doesn’t look to stop anytime soon. Even before the marketwide crypto downtrend, the token had already seen its value skyrocket by over 500%.
Crypto experts had already predicted that ETFSwap (ETFS) would most likely continue this run once the crypto market picked up again, and that is what has happened. Despite its current price of $0.00854, ETFSwap (ETFS) already has its eyes set on the $20 price level, with crypto experts predicting that the crypto token could hit this target once Bitcoin (BTC) climbs to $73,000.
The demand for ETFSwap (ETFS) is tied to the endless utilities of the platform, one of the major ones being tokenizing ETFs for easy conversion to crypto and fiat. Furthermore, the platform requires no KYC verification to trade, and this allows for a plug-and-play platform for crypto investors.
CyberScope, a leading blockchain security firm, has audited the platform’s smart contracts and has found no vulnerabilities, certifying it safe to invest in. It is also a completely decentralized platform, meaning that there is no fear of interference from governments and other third-party entities.
Over 60 million ETFSwap (ETFS) tokens have been sold so far in stage 1 of the token’s presale, highlighting the massive demand for the coin. The impressive success recorded in this stage has led to talks that tokens available in stage 1 might sell out anytime soon.
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