Lawsuits from the U.S. Securities and Exchange Commission are not unique. Major players in the crypto market have been facing regulators for a long time. The fight between the SEC and cryptocurrency company Ripple has been going on for several years.
In December 2020, the SEC accused Ripple of selling $1.3 billion in unregistered securities in the form of XRP tokens. This is one of the most important precedents for the crypto market and could have significant implications for the regulation of the industry.
However, there are some positive developments in the cryptocurrency market. In this article, we will also look at a new project in the field of meme cryptocurrencies Wall Street Memes, which is predicted to grow manifold after its release on exchanges.
XRP rate – how will the price of Ripple change as a result of the SEC proceedings?
Ripple (XRP) is one of the leading and most promising cryptocurrencies in the world. However, the company does not base its market strategy on the principle of decentralization. On the contrary, this cryptocurrency cooperates with several banks and large investment businesses around the world.
Although many traders aim to opt for independent digital currencies, this partnership, according to many crypto experts, could be a factor in Ripple’s successful development.
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In recent years, the XRP/USD exchange rate has been quite volatile due to the SEC lawsuit. However, the company’s CEO Brad Garlinghouse continues to remain positive, although he admits that the lawsuit may drag on.
The Ripple coin price forecast is still highly dependent on the development of current events. The main question on investors’ minds right now is what factors could trigger a change in Ripple’s exchange rate?
If Ripple prevails, it could be a huge event for the cryptocurrency industry, as until now, US regulators have always come out victorious in such situations. Of course, such results have often given the impression that cryptocurrency companies are completely defenseless before the higher authorities. If Ripple is able to win in this dispute, it will mean that cryptocurrency companies will finally be able to fight for their interests and hope for fair decisions.
Some experts believe that XRP will be able to avoid the status of a security, but the project may be fined.
However, leading crypto industry experts predict a positive scenario in the long term. The average projected value of the coin by the end of 2023 is more than $1. Volatility will also remain, but the presence of a stable uptrend is always a positive factor for investors.
The new meme cryptocurrency Wall Street Memes could grow 10 times in value
Wall Street Memes is a new meme coin that has gained huge popularity among social media users. There are official pages of the project in Telegram, Twitter, Discord and other platforms, which allows the team to actively work with the community and increase the number of participants. Recently, Ilon Musk retweeted the WSM meme, which also attracted additional attention to the project.
Musk, who is a proponent of meme-based cryptocurrencies, very rarely talks about individual projects, so his endorsement highlights Wall Street Memes. This suggests that the token has good prospects.
The massive interest in Wall Street Memes puts the project in the rank of serious players. That said, there is a presale going on right now, where investors can profit from WSM even before it goes public.
At the moment, the value of the WSM token is at $0.0286. The presale is on its 12th stage out of 30, and investors still have time to buy tokens at a lower price. Once listed on exchanges, the asset will go up in price.
ChatGPT’s forecasts predict that after listing, the WSM token will rise to $0.15, which is a much higher value than the first stage of the presale. If this is true, the prediction is very optimistic.
To buy WSM, you must first set up a wallet on the presale site. You can use ETH, USDT or BNB (don’t forget about the gas commission). By the way, for beginners, there is a simple option to buy WSM from a bank card.
Prospects of the WSM token for investors
The success of the Wall Street Memes project depends largely on further steps for promotion. The project team actively uses the idea of opposing Wall Street, which is close to their community and gives popularity to the meme token.
In addition, the project has a unique tokenomics, according to which all coins will be available to the community. The total supply is 2 billion tokens with no private sales or special distributions to team members.
30% of the total $WSM goes to reward the community in the form of airdrops. 50% of the tokens will be available in the presale, 10% is intended for CEX (centralized exchanges) and 10% for DEX (decentralized exchanges). Thus, the creators of Wall Street Memes put the management of the project completely in the hands of investors.
Purchasing tokens at an early stage allows traders to become part of the decentralized ecosystem and profit from the growth of the value of the coin, as well as participate in airdrops. In order to increase the popularity of WSM, the project announced a token drawing for $50 thousand. Everyone can participate, and prizes are paid to five winners.
When buying WSM, one should decide on the amount and hurry up with the purchase before the coin goes up in price again, moving on to the next round of presale. Although the project receives mostly positive forecasts from analysts, we remind you that meme crypto assets are the most volatile on the market. Therefore, it is not recommended to risk an amount that is a pity to lose.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
