Bitrabo Editorial
This week, significant developments in the crypto space could impact the prices and acceptance of various altcoins. The top three altcoins to keep an eye on are Ethereum, XRP, and Cosmos, as they are on the brink of potential market-altering news.
#1 Ethereum: Possibility of a Spot ETF Approval
The awaited approval of the first US spot Ethereum Exchange Traded Funds (ETFs) could bring in new institutional investments to the crypto market. Nate Geraci and Eric Balchunas have hinted at a possible approval announcement this week, leading to anticipation in the community.
The critical aspect revolves around the US Securities and Exchange Commission’s (SEC’s) approval of the S-1 registrations needed for these ETFs to launch. The market eagerly awaits the finalization of these forms, which could greatly impact Ethereum’s liquidity and market presence.
#2 XRP Lawsuit: Settlement Talks
Ripple Labs seems to be nearing a conclusion in its legal battle with the SEC, with speculation of a potential settlement gaining traction. Rumors of a private meeting with the SEC on July 18, 2024, have spurred talks of resolving the Ripple vs. SEC case.
While details of the meeting remain unofficial, the possibility of a resolution has excited the XRP community, fueled by hints from sources close to the matter.
#3 Cosmos: Upcoming V18 Upgrade
Cosmos is preparing for a substantial network improvement with the v18 upgrade, focusing on enhancing governance and transaction efficiency. The upgrade, scheduled for implementation on July 17th, will introduce a permissioned CosmWasm for smart contract deployment after community approval.
Noteworthy features of the update include the Dynamic Fee Module, adjusting transaction fees based on network congestion, and an expedited governance proposal process for quicker network decisions. These enhancements aim to boost security, control, and performance within the Cosmos ecosystem.
At the current time, ETH is trading at $3,341.