The crypto industry has been hit by a regulatory crackdown in recent months, with governments across the globe tightening their grip on digital assets. Countries like the United States and the United Kingdom have taken a particularly hard line, with regulations on crypto threatening to push crypto companies offshore.
In this article, we will compare and analyze three prominent cryptocurrencies – XRP, Big Eyes Coin (BIG), and Shiba Inu – in light of these regulatory changes. We will look at how these currencies are responding to the changing environment and discuss what the future might hold for them.
Crypto Industry Under Fire: Regulatory Crackdown Continues
The cryptocurrency industry has been rocked by recent regulatory crackdowns in the United States and around the world. In March month alone, the US SEC and CFTC sued crypto giants Binance and Beaxy. Coinbase, one of the largest crypto exchange platforms, also received a notice from SEC for possible securities law violations.
Recently, Coinbase CEO Brian Armstrong has indicated that the cryptocurrency exchange may consider relocating outside the US if the regulatory environment for the industry doesn’t become clearer.
Shiba Inu Suffered a 56% Loss
Shiba Inu is a cryptocurrency that was created in August 2020 and is based on the Ethereum blockchain.
The Shiba Inu project aims to create a decentralized community and ecosystem of services using blockchain technology. One of the main features of the project is the creation of a decentralized exchange called ShibaSwap, which allows users to trade various cryptocurrencies without the need for a centralized intermediary.
The employs a unique burning mechanism to decrease the overall supply and increase the value of the remaining tokens.
Although it has some appealing qualities, Shiba Inu native currency SHIB has experienced a 56.6% decrease in value over the past year, mainly due to the ongoing regulatory crackdowns on the cryptocurrency industry.
XRP To Change The Game
XRP is a cryptocurrency created by Ripple Labs, a San Francisco-based fintech company. Ripple aims to facilitate cross-border payments using blockchain technology.
In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, alleging that the company had conducted a $1.3 billion unregistered securities offering by selling XRP to investors.
Ripple and its executives have denied the SEC’s allegations and have argued that XRP is not a security, but rather a currency, like Bitcoin or Ethereum.
The outcome of this case will have far-reaching implications for the crypto industry, as it could set a precedent for how other currencies are regulated in the future.
The verdict for Ripple and the SEC is anticipated to be released on or before the first week of May. As Ripple supporters are optimistic about a favorable outcome, the price of the XRP token is increasing. In the last 30 days, the value of XRP has risen by 26%.
Big Eyes Coin Rises Against Regulatory Crackdown
Big Eyes Coin is a new meme coin that has been generating a lot of buzz lately. It operates on the Ethereum blockchain, with a community-driven focus on transparency and fairness. The presale of the coin has been underway, with the final round ending on June 3rd.
What makes Big Eyes Coin unique is its innovative features and potential for high returns. One of these features is its loot boxes, which allow users to invest anywhere between $10 – $10,000 for a chance to win prizes up to one million dollars. Users can also get a 300% bonus on these boxes by using the bonus code END300.
Furthermore, the platform has introduced NFTs, which users can mint, collect, and trade via the OpenSea marketplace. Overall, Big Eyes Coin is shaping up to be a promising project with a lot of potential for growth and returns.
Despite the ongoing crackdown on the crypto industry worldwide, Big Eyes Coin has successfully garnered more investors and raised over 34 million dollars during its presale. Moreover, if XRP receives a favorable judgment against the SEC, it could potentially lead to reduced regulations on the crypto industry in the future.
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Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Twitter: https://twitter.com/BigEyesCoin
Telegram: https://t.me/BIGEYESOFFICIAL
Opensea: https://opensea.io/collection/big-eyes-lootbox-cards
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