Ether Pushes Past $2,000 as XRP Ruling Excites Markets

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Ether Pushes Past $2,000 as XRP Ruling Excites Markets

Coindesk2023/07/14 03:04

By:Sam Reynolds

Several Layer 1 tokens are soaring as SEC cases are called into question after a favorable XRP ruling.

Ether is trading hands above $2,000, a three-month high, as the market picked up renewed optimism after a U.S. court found that sales of Ripple’s XRP tokens on exchanges and through algorithms .

The token for the world’s computer is up 7.4% and is trading at $2,010 during the Asia morning. Various Layer 1 tokens, such as Solana’s SOL, which has been , have also seen their tokens gain double digits since the ruling was published.

Stellar’s XLM is up 52% in the last 24 hours, while SOL is up 33.8%, MATIC is up 19.5%, and Cardano's ADA is up 25%.

Lido DAO’s governance token is also up 25% in the last 24 hours.

The CoinDesk Market Index (CMI) is at 1,368, up 7.2%.

Bitcoin has also and is now trading at $31,424.

In the last 12 hours, traders liquidated $203 million in short positions,

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