Along with the overall recovery in the crypto ecosystem, improved fundamentals and positive news have been key price drivers this week. Solana (SOL) and XRP have particularly done well. But not as well as the relatively new market player, Snowfall Protocol (SNW).
Since launching its presale campaign, Snowfall Protocol (SNW) has steadily made a name for itself in the crypto ecosystem, recently reaching a new all-time high of $0.191. Snowfall Protocol (SNW) has piqued the interest of astute investors and market analysts alike, thanks to its unique functionality and continuous ecosystem upgrades. The result has been spectacular price performance, with one ATH after another being broken.
SEC-sued XRP and SBF-plagued Solana have also seen some green movement this week. Here’s a breakdown of the three assets.
XRP Buyback and Confiscation Not Possible, Says Ex-Ripple Executive
Since the SEC filed a lawsuit against Ripple, XRP’s issuer, in 2018, investor confidence in the token has suffered significantly. XRP even failed to break its all-time high in the 2021 market rally, unlike most of its competitors.
One of the issues that XRP has had to deal with throughout the trial period is rumors that could potentially cause FUD in the community, the most recent being the US government’s possible buyback or confiscation of XRP tokens. Ripple’s former director of developer relations, Matt Hamilton, has come forward to address these rumors dismissing them as false.
Hamilton goes on to say that XRP is a decentralized cryptocurrency that cannot be seized without the participation of key holders. Furthermore, if the government requires its digital token, it can easily create one. And, if the US government prohibits everyone from using XRP, the token will simply cease to exist and be replaced by a fork.
Solana Witnesses Increased User Activity in 2023
Solana’s popularity plummeted in late 2022 when reports of fraud at Sam Bankman-Fried’s then-dominant crypto exchange FTX…
