This week, Arbitrum (ARB) users claimed 42 million ARB tokens, Collateral Network (COLT) sold millions during its presale and Ripple (XRP) made a comeback after several months of decline. Of these events, Collateral Network (COLT) attracted the most headlines, with investors flocking to secure discounted COLT tokens before the official launch at a price of only $0.01and as the token has a 35x estimated price increase. Let's review each of the stories in turn.
Arbitrum (ARB) is a layer-2 solution crafted to facilitate trustless transactions on the Ethereum (ETH) network without reliance on a centralized entity. Recently, Arbitrum (ARB) carried out a token airdrop, distributing free tokens to Arbitrum (ARB) holders who had staked their coins.
However, Arbitrum (ARB) holders didn't handle the newly distributed tokens for long, quickly trading them on decentralized exchanges for a guaranteed profit. This sell-off saw the Arbitrum(ARB) price fall from $10.29 to just $1.00 within two hours. Arbitrum (ARB) is currently trading at $1.19.
There is speculation surrounding where Arbitrum (ARB) goes from here. Despite the sharp fall in price after the Arbitrum (ARB) airdrop, some analysts are predicting a rebound for Arbitrum(ARB), with the possibility to move back toward the $10.00 level.
The once-dominant Ripple (XRP) appears to be making a striking return to prominence. In fact, Ripple (XRP) has pumped by over 60% in the past 14 days as institutional buying continues to pick up.
The catalyst for this Ripple (XRP) price boost seems to be related to the ongoing lawsuit from the Securities and Exchange Commission (SEC). Rumors are emerging that Ripple (XRP) could be winning the lawsuit, which would then make Ripple (XRP) a fully compliant digital asset that is free to trade on major exchanges.
The question remains: what's next for the Ripple (XRP) price? A move toward the $1.00 mark seems plausible, but long-term growth for Ripple (XRP) will hinge on the SEC's forthcoming decision. With the news of this potential lawsuit settlement, the Ripple (XRP) comeback is looking like it will be here to stay.
Related Topics: #PR