Disclaimer: This article is a press release and Newsbit is not responsible for the content, accuracy or completeness of the information provided. This article does not form financial advice. Investing in crypto currency or presales entails significant risks, including the risk of losing your full contribution. Always do your own research before you make investment decisions.
The SEC has given clarity. Ripple, Coinbase and Bitgo are now officially recognized as Qualified Custodians for Crypto Assets. This removes the last threshold for the approval of XRP ETF. The tension around the ripple course increases, what will Ripple do if the ETF is officially approved?
The decision by the SEC can give a boost to Ripple course
On September 30, the SEC released a no-action letter. It was officially confirmed that State-Chartered Trust Companies, including Ripple, also fall under a legal definition of a bank. In short, this means that from now on they can keep crypto assets in registered funds. This is important for the cryptomarket because there had been uncertainty for months or parties such as Ripple did meet the requirements.
Because of this decision, the doors are open for Ripple for large funds to place XRP at Ripple. In addition to Ripple, Coinbase and Bitgo also received this recognition. This increases the opportunities on the market, but at the same time the competition. The timing of this decision is also striking, because there are many ETF requests ready at the SEC.
ETF requests are ready for approval – XRP Rally possible
The decision by the SEC can also have a direct impact on the current ETF requests. There are currently several requests ready for approval, these requests come from Grayscale, 21Shares, and Bitwise. The deadline for these applications all end in October, this could unleash a possible XRP rally.
Until now, the lack of a recognized Custodian was a big stumbling block, but that was removed for Ripple thanks to this decision.
Clear rules ensure more trust
At the same time, the SEC set new conditions to the Custodian. An annual independent test must demonstrate whether the procedures of Ripple, among others, meet the rules to protect assets against loss or theft. In addition, no crypto may be lent or reused without the customer’s permission.
The parties must also publish controlled annual accounts and prepare external reports on their internal processes. These conditions are intended to give investors more certainty that their assets are safe and not disappear from the Custodian.
These conditions are positive for Ripple. In this way, XRP comes out stronger with institutional parties. The doubts and uncertainties around Ripple are removed. And now Ripple can also take a stronger position on the market and strengthen their role in the American financial system.
What will Ripple do in October?
As analysts expect, the XRP price responded almost immediately to this news. The current Ripple course is € 2.99, which is an increase of 1.88% on the daily graph. Many analysts expect significant increases in October, not only for the Ripple course but also for the wider market.
The ETF approvals play a major role in the Ripple course expectation, this approval can open the doors for a massive inflow from institutional parties. In addition, indicators such as the Trade Volume and Open Interest indicate that investors increase their position in the run -up to the deadlines in October.
Ripple’s recognition as a Custodian is more than a legal decision. It is a clear signal that the SEC finds the infrastructure on the crypto market mature enough to give traditional investors access.
Ripple news influence on the wider market
The clarity around Ripple is not only good news for Ripple, it can give the wider cryptomarkt a big boost. Large financial parties get access to digital assets via ETFs. This can lead to a massive influx of capital that can structurally change the market.
Investors are also increasingly looking at other alternatives, outside established names. Presale tokens remain very attractive for investors who dare to take higher risk in exchange for potential explosive growth. Investors who compile their crypto portfolio are therefore increasingly opting for spreading opportunities and risks. Not every presale is a success, so the team behind the project, the transparency and the aim of the project are looked into. Below we have highlighted the three best -performing new crypto coins.
Best Wallet Token
Best wallet token ($ best) is immediately gaining popularity and trust. This is mainly due to the fact that Best Wallet Token is linked to the user -friendly crypto wallet, Best Wallet. This is an established web3 wallet with a user base that considerably expands every month. Never before did a crypto wallet come with its own token, it is best for token token.
The Presale of Best Wallet Token provides interesting benefits. First, early investors can buy the $ best token at the lowest possible price. This increases the chance of an explosive return after launch. In addition, the strike rewards are very high, investors can immediately start earning a passive income with crypto.
Best Wallet Token is a governance token and has a strong focus on the community. There are different ways to earn free crypto or other rewards. There are free crypto airdrops with assignments on social media. In addition, $ Best cooperates with various iGaming partners. This offers Holders the opportunity to claim extra rewards at a number of online casinos.
Best Wallet is a multi-chain crypto wallet and is developing more and more. A best card will be launched in the near future, this is a crypto payment card. This allows you to pay directly with crypto in physical places. Best Wallet Token is an interesting crypto coin to keep an eye on, especially if you love innovativity and ease of use.
Now to the official website of Best Wallet Token
Bitcoin Hyper
A striking presale is Bitcoin Hyper ($ Hyper). Although Bitcoin Hyper works separately from Bitcoin, it presents itself as a technical addition to the network. Bitcoin Hyper has developed its own layer 2. On this Layer 2 solutions, fast and cheap BTC transactions are possible and developers benefit from the speed they are used to from Solana.
Bitcoin Hyper applies SVM. SVM stands for Solana Virtual Machine, this is the system that ensures the speed on the Solana network. In addition, smart use is made of the safety of Bitcoin. Instead of keeping everything on your own chain, it is sent back to the Layer 1 of Bitcoin where it can be stored safely.
Bitcoin Hyper is also a sustainable crypto coin thanks to the proof-of-stake system. Because only a small part of the data is sent back to Bitcoin, the impact on the environment is much smaller. Bitcoin Hyper is a striking new meme coin with a lot of potential for the long and short term.
Now to the official Bitcoin Hyper website
Maxi Doge
Maxi Doge ($ Maxi) is the muscular nephew of Dogecoin. Maxi Doge gets everything in the house to get bigger than Dogecoin. Maxi Doge is a community -oriented token, developed on the Ethereum network. In addition to the community, the Meme Coin focuses on brutal power with energy drinks and maximum leverage.
How leverage takes shape within the platform is still unclear. What is clear is that crypto trading competitions will take place. Members can participate and are assessed on the basis of their Roi Ranking. In addition, partner Events can be found and receive Holders Automatic strike rewards.
One of the characteristics that arouse the interest of investors is the transparency. There is a clear tokenomics, roadmap and the project has been audited by leading companies. Maxi Doge combines humor with real value and wants to settle on the market for the long term through collaborations.
Now to the official website of Maxi Doge
Disclaimer: This article is a press release and Newsbit is not responsible for the content, accuracy or completeness of the information provided. This article does not form financial advice. Investing in crypto currency or presales entails significant risks, including the risk of losing your full contribution. Always do your own research before you make investment decisions.
Source: https://newsbit.nl/sec-geeft-duidelijkheid-ripple-officieel-gekwalificeerde-custodian-xrp-koers-analyse/
