A judge in the US decided that Ripple's secondary sales, namely its trading on exchanges, did not violate securities laws, greatly boosting the market.
Ripple is up close to 100% on a daily basis, approaching the $1 limit yesterday, while it is struggling to maintain $0.80 today.
Ripple's victory is not considered an isolated decision that only concerns him. With this victory for Ripple, it is thought that many altcoins traded in the secondary markets are not securities and the theses of the SEC collapsed. This thought has caused altcoins, which have been under SEC pressure for a long time, to rise again.
The 2% pullback in BTC dominance with the news of the victory from the Ripple case also showed that the interest returned to altcoins.
290 Million Dollars Liquidated
While the market was giving money quite generously yesterday, some investors again fell victim to their greed and greed.
According to data provided by Coinglass, $290 million worth of positions have been liquid in the last 24 hours. In other words, the $290 million futures position closed with a loss.
Of these liquidations, $217 million was held in short positions, while $72 million in long positions. Even in the emerging market, the $72 million long liquidation showed once again that investors should stay away from high leverage.
When we look at the liquidation map, we see that the highest of the liquidations occurred in Bitcoin and then in XRP.
Of the $61 million liquidation experienced in XRP, $34 million was in short positions and $26 million in long positions.
