Table content
**John Deaton Addresses Ripple versus SEC Speculation; Bitcoin Arena Experiences Deleveraging, Cardano to Surpass Dogecoin: U.Today Digital Currency Bulletin**
Here is a swift summary of the recent occurrences in the digital currency sphere, as stated by U.Today:
**Ripple versus SEC: Is the Conclusion Approaching?**
Gossip is circulating that the protracted judicial dispute involving Ripple and the SEC may be reaching its end. Digital currency figure Andrew AP_Abacus Parish, quoting SEC sources, proposes three possible results:
1. XRP might be reclassified as a raw material, transferring its oversight to the CFTC.
2. Ripple’s penalties, previously lowered from $2 billion to $125 million, may be decreased even more.
3. The case’s settlement will create a standard for the digital currency sector for many years ahead.
Pro-XRP attorney John Deaton recognized the speculation, implying that he is closely monitoring the circumstance.
**Bitcoin (BTC) Arena Deleveraging: Advantageous or Detrimental?**
As stated by CryptoQuants community specialist @Darkfost_Coc, Bitcoin’s open interest over 90 days has decreased significantly by 31.2% recently, falling from $33.6 billion to $23.1 billion. This deleveraging stage in the Bitcoin marketplace historically offers good short- to mid-term chances for Bitcoin owners. The latest major deleveraging occurrences happened before the U.S. approved Bitcoin spot ETFs in January 2024, and during the economic slump from Q4 2022 to Q1 2023. As of this writing, Bitcoin is trading at $81,759, down 1.8% in the past 24 hours, according to CoinMarketCap. The cryptocurrency market is presently in a state of fear, with the Crypto Fear & Greed Index dropping to 25/100. The market might see instability before the Federal Open Market Committee (FOMC) gathering on March 18-19, because of possible declarations of new financial policies.
Dogecoin has been experiencing growing selling pressure and technical blockages in recent weeks, jeopardizing its standing in the cryptocurrency marketplace. DOGE is presently valued at $0.1641 and is in a downswing, with negative patterns and a death cross worsening its decrease. Meanwhile, ADA is gaining strength; despite encountering resistance in its price action, ADA has displayed durability by keeping key support levels. ADA is presently trading at $0.6925. In terms of market capitalization, Cardano is nearing Dogecoin, with a market cap of $24.39 billion compared to Dogecoin’s $24.42 billion, putting it within close range of surpassing its canine-themed rival. If Cardano keeps its upward trend, it could soon exceed Dogecoin to become the eighth-largest cryptocurrency.
