News

Cryptocurrency Shares Soar as Ripple Wins Dismissal of Regulatory Allegations

1 Mins read

Shares of companies in the cryptocurrency space have experienced a significant increase in value following the recent dismissal of regulatory allegations against Ripple Labs. The allegations were related to the sale of $1.4 billion worth of the digital token XRP.

Leading the charge is Coinbase Global, the largest cryptocurrency exchange in the United States. Their shares have surged 10% to $94.66 in midday trading. Block, a digital payments group, has also seen a boost, with its shares up 6.3% at $75.73. Similarly, Bitcoin miners Riot Platform and Marathon Digital have seen their shares rise by 12%, reaching $19.82 and $18.85, respectively.

Other cryptocurrency miners have also experienced significant gains in their stock prices. Shares of Cleanspark and Bit Digital have surged by 12% each, reaching $7.38 and $4.36, respectively. Hut 8 Mining’s shares have climbed 14% to $4.28. Additionally, Iris Energy, a sustainable bitcoin mining company, has seen a 12% increase in share value, reaching $7.80.

MicroStrategy, a business intelligence software provider that has made significant investments in Bitcoin, has observed a 5.7% increase in its shares, reaching $436.93.

While Bitcoin, the largest crypto asset by market capitalization, has experienced a modest 1.7% increase, currently valued at $30,820, other major cryptocurrencies have seen even larger gains.

Overall, the recent dismissal of regulatory allegations against Ripple has had a positive ripple effect on the cryptocurrency market, resulting in significant price increases for various crypto-related companies.

Related posts
News

Funeral home owner accused of stashing decaying bodies expected to plead guilty in federal court

1 Mins read
DENVER – A funeral home owner in Colorado accused of storing nearly 190 decomposing bodies in a room-temperature building and defrauding the…
News

Has the Airbnb bubble burst?

2 Mins read
Only 4% of Americans are considering Airbnb for their next vacation according to a survey from forex giant Travelex. As part of…
News

Tinubu has changed narrative of NDDC, says Ogbuku, MD

21 Mins read
Managing director of the Niger Delta Development Commission (NDDC), Dr. Samuel Ogbuku, in this interview, spoke on the leadership reforms in the…

Leave a Reply

Your email address will not be published. Required fields are marked *