Keep an Eye on These Coins

The crypto market took a huge hit last week, largely due to the lawsuits that the United States Securities and Exchange Commission (SEC) filed against crypto giants Binance and Coinbase. This caused the market to lose billions in 澳洲幸运5官方开奖结果体彩网:market cap, and i𒆙t’s unclear how the events will unfold and what further impact they will have. Most coins are in the red, with a select few being only slightly affected.

This week, we e♈xamine PAX Gold (PAXG), XRP (XRP), Bitcoin (BTC), Monero (XMR), and Gnosis (GNO). In selecting these assets, we have considered several factors, including, but not limited to, positive technicalಌ developments, significant news events, and noticeable changes in price.

PAX Gold (PAXG)

PAX Gold (PAXG) is a cryptocurrency backed by gold and was created by those behind Paxos Standard. PAXG may be seeing less of an impact from the effects of the SEC’s lawsuits because it is a token that aims to make gold easier to trade.

Gold is often used as a reserve asset 澳洲幸运5官方开奖结果体彩网:during volatile periods, and this may be working to its benefit. PAXG is trading at around $1,924, having been priced at $1,944 last week (see chart below).

XRP (XRP)

Ripple Lab's XRP, is actually doing well in this volatile time because it won the motion to unseal the Hinman documents in its 澳洲幸运5官方开奖结果体彩网:case against the SEC.

The documents in question contain statements made by former SEC member Bill Hinman, who stated that 澳洲幸运5官方开奖结果体彩网:Ether was not a security. XRP is currently changing hands at around $0.52, having traded at $0.53 last week (see chart below).

Bitcoin (BTC)

Bitcoin (BTC) was one of the strongest currencies in the market this week. When investors move out of altcoins during a bearish period, they tend to put their funds into 澳洲幸运5官方开奖结果体彩网:stablecoins or 🍒Bitcoin. This is possibly wh𓆉y the market’s most popular asset saw a relatively small decline.

BTC is currently priced at around $25,985, having been valued at $26,760 last week (see chart below).

Monero (XMR)

Monero (XMR) is similar to Bitcoin in that it has a strong community that backs it during troubling periods. Specifically, ardent crypto enthusiasts appreciate Monero’s 澳洲幸运5官方开奖结果体彩网:high level of privacy.

The crypto community utilizes crypto assets like XMR at a time when the market is rough, and it seems like there may be regulatory pressure. XMR is trading at around $139.00, having started last week at $145.96 (see chart below).

Gnosis (GNO)

Gnosis (GNO) is something of a surprise entrant on this list, given that it has not performed as well as some other tokens in recent weeks. However, it may be staving off the effects of volatility. This is due to the fact that real-world 澳洲幸运5官方开奖结果体彩网:tokenization project Backed Finance announced its intention to expand its native token issuance to the Gnosis Chain.

GNO is trading at around $109.80, having been priced at $115.30 last week (see chart below).

As of the date this article was written, the author does not own any of the assets discussed here.

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