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According to Bithumb, the largest virtual asset exchange in Korea, as of 9:50 pm on the 25th, the price of bitcoin has risen more than 3% compared to 24 hours ago, and is trading at 2.71 million won.
In addition, the price of bitcoin at major overseas exchanges that CoinMarketCap counts has risen 5.84% at the same time to over $24,500, approaching the highest in history.
The price of bitcoin was determined by the U.S. Securities and Exchange Commission (SEC) as securities two days ago, suing XRP issuers Ripple and Brad Gallinghouse, CEO of Ripple, and Chris Larsen, co-founder of the company, to law enforcement authorities. It showed an adjustment afterward, but is on the rise again.
In particular, the negative effect of Ripple is increasing the buying trend for Bitcoin. Currently, the market capitalization of Bitcoin accounts for 69% of the total virtual assets, breaking the highest level in 11 months since January.
At the same time, the XRP price also surged more than 35% compared to 24 hours ago, recovering the 400 won level again.
According to the cryptocurrency media, AMB Crypto, the founder of Cardano, IOHK CEO Charles Hoskinson, said, “Even if you look at what SEC mentioned, XRP can be viewed as securities. “It’s the same logic as saying that all investors have violated securities laws.”
“As countries other than the US already recognize XRP as a currency or alternative asset, this situation only affects XRP liquidity in the US, but it will not affect XRP in other countries.”