What crypto news is there for Dogecoin (DOGE), Ripple (XRP) and Space ID (ID)? How are their prices performing? Below are all the answers.
In-depth analysis of the crypto assets Dogecoin, Ripple and the new Space ID
It is worth mentioning that Dogecoin is the crypto meme whose logo is graphically based on an internet meme representing a Shiba dog.
Ripple is a real-time funds transfer system, a network for currency exchanges and remittance sending, created in 2012 by Ripple Labs.
Finally, Space ID (ID) is the new token launched on Binance’s Launchpad.
Elon Musk raises the price of Dogecoin with a tweet
In a joking tweet, famous Dogecoin supporter and tech billionaire Elon Musk mentioned a “fee to visit Twitter headquarters,” which should be paid in DOGE.
A user who asked to visit the headquarters of this social media platform received a response from Elon Musk, who ironically replied that it would cost 3 DOGE.
Hey Chief Twit @elonmusk
I will be travelling to US next month to witness the Starship Launch. Would love to visit the bird app headquarters too. I spoke with someone from the team & they said, I need your permission to visit pic.twitter.com/AToGSxf4iG
— DogeDesigner (@cb_doge) March 23, 2023
This may have renewed speculation among Dogecoin traders and investors that the cryptocurrency might eventually be recognized as a form of payment on Twitter.
The popular price of DOGE rose more than 3.3% to $0.077137 after Musk’s post. In addition, because of his recent remarks on the Federal Reserve’s (Fed) plans, Musk has recently attracted media attention.
In fact, in a statement, Musk says that the shift from low-interest savings accounts to high-interest money market accounts is a significant factor in why depositors are leaving banks.
Musk also called for a rate cut of 50 basis points to bail out dissolving banks before the Fed’s rate decision yesterday.
In addition, he supported the idea of instructing the FDIC to briefly insure all deposits above the $250,000 limit to stop runs to the tellers.
SEC vs Ripple: how will the lawsuit end?
The US Securities and Exchange Commission (SEC) has filed its response to Ripple Labs‘ letters regarding additional authority in the Bittner and Voyager cases.
As reported by Bitcoinist, Judge Voyager found strong words for the unclear regulatory situation in the US cryptocurrency industry.
Ripple filed the decision as an argument in support of its defense on fair notice, pointing to Bankruptcy Judge Michael Wiles‘ writing of “long-standing uncertainties” for the industry about which even regulators disagree.
Ripple’s early March supplemental authority brief regarding the Bittner case cites the Supreme Court’s ruling on 28 February in Bittner vs United States.
In it, the Supreme Court reiterated that fair notice should be given to the world in a manner understood by the general public, something the SEC clearly did not do with XRP.
In its brief response yesterday, the SEC stated that neither decision supports Ripple’s fair notice defense and provides no basis for denying the SEC’s motion for summary judgment.
Moreover, the agency says it has consistently provided guidance that cryptocurrency offerings violate securities laws when they involve the offer and sale of an investment contract.
Voyager does not help the defendants either, says the SEC, which contends that it was a failed plan for the potential sale of a cryptocurrency conglomerate to another company.
Furthermore, the SEC concludes:
“Defendants shamelessly mischaracterize Voyager’s bankruptcy court statements and pull snippets out of context in a misguided attempt to bolster their futile defense with fair notice.”
The crypto Space ID (ID) outperforms Dogecoin and Ripple during early days
ID is the native cryptographic asset and governance token of Space ID, a Web3 domain management system that allows users to exchange, register and manage crypto-based domain names.
The price of ID is currently gaining about 8% in the past 24 hours, according to CoinMarketCap data.
The ID token just made its public release on Binance‘s Launchpad, where trading began shortly thereafter.
On the same day, Binance announced Space ID (ID) as the 30th project on Binance Launchpad, whereas users’ BNB balances have been registered since 17 March. The Binance Launchpad for Space ID was a huge success as Space ID tokens received over $2.8 billion in subscribed BNB.
During the launchpad, the value of ID was set at $0.025. This means that from that time to now, the rise has been 2100%.
Binance CEO Changpeng “CZ” Zhao said that this represents the ATH for Binance Launchpad. Space ID, the latest launchpad whose subscription ended hours ago, received over 8.4 million BNB tokens in commitments from 99,000 holders in 48 hours on 21 March.
The tokens were offered at 0.00007412 BNB per ID, with a total of 100 million IDs available. The final allocation will be estimated based on the number of BNB commitments relative to the total number of holders who participated.