December 6, 2022

Bitcoin Sets ATH at $26K as Ripple Is In Trouble: The Crypto Weekly Market Update

3 min read

The previous 7 days were especially troubled for the cryptocurrency market. The week leading up to Christmas saw massive volatility throughout the board, and this time, it wasn’t Bitcoin in the spotlight.

However, the primary cryptocurrency began the week by getting about $1,500, however it was on Monday when things took a turn for the even worse. BTC visited more than $2,000, reaching a dollar value of about $22,000. From there, however, it handled to rebound.

Yesterday, bitcoin’s price appeared a bit indecisive, however things altered rapidly as it set a new high above $25,000. And if somebody believed the run was over – – they were incorrect. Today, the cryptocurrency did yet another upper hand and broke $26,000 on Binance, setting a brand name brand-new all-time high.

The week, nevertheless, will go down in history since of a landmark suit filed by the United States Securities and Exchange Commission. The watchdog has its sights on one of the largest companies in the field – –

Ripple. A couple of days back, the SEC pushed official charges versus Ripple, declaring that it has actually carried out an unregistered securities offering of $1.3 billion. The rate for XRP responded instantly with a devastating drop of more than 65%. As CryptoPotato reported, some exchanges took instant action and unlisted the cryptocurrency.

Since then, XRP has actually handled to recuperate a bit, but it still has a long way to go. This also took a lot of altcoins with it as the majority of them saw significant double-digit losses over the previous couple of days.

The Christmas day, nevertheless, brought wish to numerous as most altcoins handled to regroup and recuperate, with Ethereum (ETH) cost climbing back above the coveted $600 mark. In any case, it’s extremely fascinating to see how the market will develop from here as it’s apparent that the SEC isn’t afraid of going after the biggest gamers in the field.

Elsewhere, Ledger experienced a huge leakage of individual information as the users’ database was dumped online. The company provided a couple of declarations attempting to rather remedy the scenario, however the damage is done. This highlights the difficulties that the market is dealing with.

Market Data

Market Cap: $687B|24H Vol: 178B|BTC Dominance: 69.3%

BTC: $25,646 (+7.40%)|ETH: $641 (-3.19%)|XRP: $0.304 (-48.54%)


< img class="aligncenter size-full wp-image-96501" src="" alt="final" width="1280" height="636" srcset=" 1280w, 300w, 1024w, 768w, 50w" sizes =" (max-width: 1280px) 100vw, 1280px"/ > 6 Reasons For The Ongoing Bitcoin Bull-Run Beyond $20K. This year has been rather challenging, to say the least. However, regardless of all the hardship, Bitcoin’s efficiency is more than stellar. Here are six reasons for which the cryptocurrency continues to rally above the $20,000 mark.

SEC Charges Ripple With $1.3 Billion Unregistered Security Offering. The United States Securities and Exchange Commission has actually pushed official charges versus Ripple. The watchdog alleges that the business has actually conducted a $1.3 billion unregistered securities offering.

Max Keiser: SEC Will Target Other ‘Garbage’ Altcoins After Ripple. Popular Bitcoin advocate Max Keiser believes that the SEC will not stop with Ripple in its pursuit of companies who stopped working to comply with the securities policies. He thinks that other altcoins will eventually follow.

Ledger User Database Dumped Online, Targeted Phishing Attacks Expected? One of the leading cryptocurrency hardware wallet manufacturers, Ledger, has seen its user database discarded online in an enormous privacy breach. Though the company provided a declaration and attempted to treat the situation, the damage is done.

Pro-Crypto Commissioner Elad Roisman Named New SEC Chairman. Elad Roisman has actually been called the brand-new Chairman of the United States Securities and Exchange Commission. He has actually formerly stated that crypto requires clearer and more transparent regulations.

DeFi Token 1inch Spikes 1000% in Christmas After Binance Listing. In an airdrop much similar to that of Uniswap’s UNI token, the popular DEX aggregator 1inch has actually distributed its native token to users. The rate for it rose by more than 1,000% following a listing on Binance.


This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Binance Coin, and Chainlink – – click on this link for the complete cost analysis.