With Amazon stating they are working on accepting Bitcoin payments in the future, cryptocurrencies are getting a breath of fresh air. There are rises for the big coins as well as some not so big. XRP is starting to look a little better, which is something, I am watching. We will not know the full potential of XRP until it is out of the courts. However, the word on the street is that XRP got shafted by the SEC.
The news coming from the courts regarding the whole Ripple situation looks like a giant mess constructed by the SEC. For this reason, cryptocurrencies do not need to be touched by the SEC because any manipulation can cost investors millions. Right now, any move regarding taxation or regulation is questionable.
For instance, why should crypto investors get penalized for trading cryptocurrencies? There’s so much we still do not know about cryptocurrencies and how the market moves, so the government trying to tax the market seems a bit of an overreach.
Now, it’s time to look at Shibaswap. After I posted the article about the Def rating, another company rated the swap about a week later. Shibaswap was able to get passing numbers, but the swap has since taken a tumble. The TVL went from 1.6 billion to 458 million, which shows some concern. Many investors have posted frustration about gas prices for ETH and not seeing the gains they thought they would see. One of the issues is that some investors thought Shib would knock off multiple zeros after the swap was up and running.
That hasn’t happened, and due to the lack of big exchanges such as Coinbase and Etoro not listing Shib, it isn’t rising. I think this is something we have to be patient with and use caution while determining how much money we wish to push in its direction. One thing I always tell my kids is that coin diversity matters. It’s sort of like dating, if I only dated one type of person, I would have never married my husband. Assortment was always a great thing!!!!!!!!!!!! LOL That’s the skinny!
As always, if you are looking to invest, talk to a professional, because I am not one!
Question of the week!!
Do you think XRP will be able to regain their position prior to the lawsuit?