The upcoming 2024 presidential election could give a new perspective to the U.S. financial regulatory landscape, especially in crypto. Mark Cuban, the billionaire tech entrepreneur who is known for his critiques of the Securities and Exchange Commission (SEC), has lately given a signal about the idea of taking over as SEC chair.
Cuban has been seen criticising the SEC’s actions in the crypto arena and, in an unexpected twist, even slightly floated his own candidacy as a potential successor to Gary Gensler. Although he’s since been downplaying this interest, Cuban’s public views have escalated conversations around what his potential position could mean for the crypto industry.
As speculation spreads more, crypto investors are looking into three altcoins—Ripple (XRP), NEAR Protocol (NEAR), and the new player, IntelMarkets (INTL)—all of which may see market fluctuation in anticipation of potential regulatory movements.
Ripple (XRP): Legal Battles and Market Response
Ripple’s XRP has been the center of attention in crypto news, with its ongoing legal dispute against the SEC pouring in more complexity for traders. The SEC alleges that Ripple’s token, XRP, was sold in the form of unregistered security, a claim Ripple is continuously contesting with top-tier legal representation, including securities law expert Matthew Solomon.
Lately, the SEC requested the Second Circuit Court to decide a deadline of January 15, 2025, for its appeal brief, exhibiting the regulator’s continued interest in pursuing the case.
XRP’s market response to these legal developments has been dynamic.
Following recent courtroom updates, XRP saw a 1% price hike within a single day, trading at approximately $0.5255, with an increase in trading volume by 61%, reaching $972 million. This price soar shows strong interest from the investor community, likely spurred by the anticipation that favorable results in the legal battle could benefit XRP’s value and position in the market.
The case’s result could set precedents affecting the broader crypto market. Cuban’s advocacy for less restrictive crypto regulations, combined with his close connections to the current Democratic leadership, could create a more beneficial regulatory environment for tokens like XRP if Cuban were to impact SEC policies. Investors looking for a market fluctuation around XRP are keeping an eye on both the legal landscape and potential regulatory shifts stemming from this election season.
NEAR Protocol (NEAR): Multi-Chain Growth and Price Patterns
NEAR Protocol is creating a frenzy in blockchain accessibility, focusing on multi-chain support and innovative tools to simplify user experience. Recent updates include Chain Signatures, enabling investors to manage multiple blockchains using a single account.
Moreover, NEAR has combined REVOX’s Lens and Smart Wallet, adding streamlined features to its ecosystem that increase decentralized application (dApp) efficiency. These shifts could broaden the appeal of NEAR Protocol, making it simpler for users to navigate the blockchain space, and potentially increase adoption among non-crypto native users.
NEAR’s price has been as interesting as its technical developments. It saw a hike of $8.9 early this year before undergoing a 65% dip, settling at $3.06. Since then, NEAR has rebounded by 30%, currently trading around the price $4.35.
However, it has exhibited a slight drop of 2.5% over the last 24 hours, signaling some volatility that traders continue to monitor. Experts note that if NEAR breaks above its resistance level of $6, it could potentially see a bullish trend with an estimated 130% price surge.
IntelMarkets (INTL): The New Player in AI-Driven Blockchain Solutions
Among the new contenders in the crypto space, IntelMarkets (INTL) is quickly establishing itself as a leading AI-based blockchain platform. Unlike traditional exchanges, IntelMarkets integrates AI across all layers of its platform, setting it apart as the first modern-gen trading solution powered by advanced technologies.
Through its proprietary Layer-1 blockchain, IntelMarkets is making strides in merging artificial intelligence with blockchain, offering users robust, data-driven solutions in crypto trading. IntelMarkets distinguishes itself with several cutting-edge features. The platform’s Autopilot Trading Robots, known as Rodeum AITM, automatically identify market opportunities based on customizable parameters like risk tolerance and leverage.
These robots allow traders to optimize positions in real-time, making IntelMarkets a promising tool for both novice and experienced traders. Another key feature is its real-time data processing, where IntelMarkets’ platform monitors and optimizes hyperparameters across over 100,000 data points.
Check out the IntelMarkets for more information about the technical platform or Join the Presale for exclusive benefits.
