Crypto Capital Venture and CryptoLaw founders make optimistic statements about 2 altcoins that are among the top 10 by market capitalization. The predictions, one of which is tied to the legal process in the USA, were quite important for the long-term outlook of the cryptocurrency market.
CryptoLaw founder says altcoin market needs ‘example cases’
CryptoLaw founder and Blockchain enthusiast John Deaton reveals further research into why XRP should be cared for. According to him, whatever the outcome of the Ripple-SEC lawsuit, this may be the only clarity the crypto market will get over the next two years.
Ripple-SEC lawsuit will determine regulatory stance for years to come
If Ripple loses its case with the SEC and XRP is considered a security, the SEC could toughen its regulations through an enforcement campaign. “You should care about XRP because Judge Torres’ decision on XRP will probably be the only clarity we’ll get over the next 2 years,” Deaton says.
Deaton notes that given the 2015 FinCEN/DOJ agreement, XRP is already the first US-issued cryptocurrency, but on a macro scale, the cryptocurrency market will become clear based on the Ripple-SEC lawsuit. The CryptoLaw founder was reacting to a tweet by Ron Hammond of the Blockchain Association stating that the crypto market remained on target in Congress after the FTX crash.
John Deaton thinks that with summary judgment and motions to exclude expert testimony now fully informed, a court order may be more likely than conciliation. Responding to a user who asked him if the judge could make a decision before March, Deaton said, “If I had to make a claim, I would say not before March. 3-6 months to make a written decision.” On December 2, both the SEC and Ripple submitted redacted responses to each other’s objections for the summary decision. According to Stuart Alderoty, Ripple’s general counsel, this was the final submission, asking the court to “deliver” in its favour.
Crypto Capital Venture founder thinks Cardano is not the value it deserves
A market pioneer, Dan Gambardello, has included his thoughts on ADA in his latest tweets. Gambardello tells his more than 238,000 Twitter followers that ADA is currently undervalued and oversold due to market fear:
It was under ADA value and oversold. Fear blinds most people and makes them unable to see it.
A few days ago, Gambardello said that one of the best coins to own this year is Cardano. He even hinted that a price increase of 1,000% would be lost.
The AD Price was trading around $0.55 on May 13, 2022, while Gambardello talked about ADA’s performance in the current bear market. In his statements during this period, “I am 100% aware that ADA is underperforming in downtrends. People don’t realize that this is one reason why I love him so much. Because it underperforms in downtrends and outperforms in uptrends. This means we now have an undervalued asset with the most positive potential. This is my market view,” he said.
cryptocoin.com As you follow, ADA continues to work on new projects to meet these expectations. However, it is worth noting that despite the high network development activities, it remains under pressure in terms of price.