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Tezos (XTZ) Price Rally Continues with Another Sizable Increase

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  • Alex Dovbnya
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    Tezos (XTZ) has witnessed its first major pump since surging by 70 percent on Coinbase last week

Tezos (XTZ) Price Rally Continues with Another Sizable Increase
Cover image via 123rf.com

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Tezos (XTZ), the token behind the first self-evolving blockchain, continues its impressive price rally. According to CoinStats data, XTZ has just spiked by almost seven percent, which allowed it to reach an intraday high of $1.23. 

Tezos Price
image by coinstats.app 

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The pump came after a Tezos-backed exchange-traded product (ETP) got launched on SIX, the largest stock exchange in Switzerland, by cryptocurrency firm Amun AG.   

The Zurich-based exchange green-lit a Bitcoin Cash-backed ETP back in July. Together with Tezos, it now has nine crypto products.

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As reported by U.Today, the XTZ price experienced a monstrous price rally after Coinbase, the leading exchange in the US, implemented staking rewards for Tezos. XTZ briefly touched the $1.70 mark before caving in to selling pressure. Because of the most recent price increase, the token got a second breath.   

There is also another outlier that remains in the green contrary to the broader market sentiment. Chainlink (LINK) is up by more than five percent over the last 24 hours with its price inching closer to an ATH of $3.96.          

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ripple Once Again Tries to Toss Class-Action Lawsuit, Insists XRP Is Not a Security

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  • Alex Dovbnya
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    Ripple makes a final push to dismiss the damning class-action lawsuit ahead of a court hearing that is scheduled for January 2020

Ripple Once Again Tries to Toss Class-Action Lawsuit, Insists XRP Is Not a Security
Cover image via 123rf.com

Ripple has once once again asked a federal court to dismiss the pending class-action lawsuit over selling illegal securities, a new court filing shows.

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The company reiterates the same "statue of repose" argument, which means that the plaintiffs failed to meet a legal deadline for filing the suit. Ripple started selling XRP to retail investors back in 2013, which means that it was way too late to bring legal actions against it back in summer 2018 after a bar to a lawsuit was imposed in 2016.    

The blockchain behemoth also continues to insist that XRP is not a security, but it called this issue "irrelevant" to their latest motion, which is why it didn't address this point in-depth. It's not the first time that Ripple tries to dodge the big question that is the cornerstone of the long-lasting legal battle. 

"XRP is not a security, but that is irrelevant for purposes of this motion. Even if XRP were a security, Plaintiff's claims still fail as a matter of law,” the filing said.   

Ripple's previous attempt to throw the suit out of the court didn't bode well. As reported by U.Today, Bradley Sostack, the leading plaintiff in the ongoing case, believes that the defendants are still liable for selling illegal securities. The parties are expected to duke it out in court in January 2020.  

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XRP's status as a security remains a point of contention within the cryptocurrency industry. Crypto influencer BitLord recently slammed Ripple for dumping their native tokens on investors to acquire businesses.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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