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Ripple Ally Final Judgment Out, Bitcoin Bear Market Over, Shibarium Utility Soars to New All-Time High: Crypto News Digest by U.Today

Thu, 07/13/2023 - 14:11
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Valeria Blokhina
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Ripple Ally Final Judgment Out, Bitcoin Bear Market Over, Shibarium Utility Soars to New All-Time High: Crypto News Digest by U.Today
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Check out U.Today's top three news stories over the past day.

Ripple ally final judgment out, here's surprising aspect

As recently shared by Ripple enthusiast James K. Filan, the court has issued its final judgment in the LBRY v. SEC case. According to the judgment, LBRY is permanently restrained and enjoined from participating, directly or indirectly, in any unregistered crypto asset securities offering. In addition to this, LBRY will have to pay the SEC a civil penalty of $111,614 within 30 days after the entry of the final judgment. The news has not been left unnoticed by the XRP community, with many of its members, including pro-Ripple lawyer Jeremy Hogan, commenting on it. Hogan noted that the judge did not rule on secondary sales or the Major Questions Doctrine but enjoined further violations and issued a penalty instead. This made the lawyer wonder whether a similar result might be possible in the Ripple case.

Ripple CTO Names Crucial Deadline for Lawsuit Ruling

Bitcoin bear market over, here are signs: source

Yesterday, PlanB, creator of the stock-to-flow (S2F) model, took to Twitter to congratulate his followers with surviving the "worst Bitcoin bear market ever." In addition to his message, PlanB attached a chart of the Bitcoin 200-Week Moving Average, which shows a consistent uptrend and the Bitcoin price currently closing above the trendline. As Bitcoin has maintained steady around the level above $30,000 for about three weeks, this made a lot of investors suggest that the Bitcoin bear market might be over. This assumption is reinforced by a number of positive fundamentals associated with the digital currency. First, MicroStrategy has continued with its accumulation of Bitcoin. Second, there has been a reboot of interest in spot Bitcoin ETFs, with firms such as BlackRock, Fidelity Investments and Invesco refiling their applications to the SEC.

Bank of England Head Slams Bitcoin

Shibarium utility soars to new all-time high in just two days: Puppyscan

Over the past two days, Shibarium testnet Puppynet has achieved a new all-time high in terms of transactions, per data provided by the Puppyscan explorer. At the moment of writing, the total number of transactions has surpassed the 29,000,000 and is now standing at 29,244,028. If the pace of growth remains the same, it is possible that by the weekend, the SHIB transaction count will hit the 30,000,000 milestone. The number of wallet addresses connected to Puppynet, however, cannot pride itself on reaching such impressive highs, as over the past day this metric has increased by only a hundred new wallets. As for other metrics, the number of total blocks currently stands at 1,667,528, with the average block time being 5.5 seconds.

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About the author

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.