👀Solana vs. Ethereum Intensifies

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Today’s selection:

• 🧋Wednesday Bubbles

• 🏇 Solana vs. Ethereum

• 📰Bite-Sized News

• 👌Selected Meme of The Day

WEDNESDAY BUBBLES

Time to take a sip of that Wednesday Bubble Tea.

XRP
While it's not exactly surging, XRP is exhibiting relative confidence, remaining in the green zone!

This is thanks to the fact that a judge has rejected the SEC’s attempt to appeal a court decision stating that XRP's secondary sales were not securities offerings.

SOL
Solana is the one really surging over here!

Regarding Solana and its updates, the following events have recently transpired:

• The Solana network has demonstrated secure operations across multiple clients, enhancing its decentralization.

• The network has been operating consistently without interruptions since February. This represents a notable improvement in stability and reliability compared to its past, where Solana experienced several periods of downtime and we were mentioning it a loot in 2022.

Also, While it might not be highly relevant to the price, it's worth mentioning that Anatoly Yakovenko, a co-founder of Solana, described (or perhaps labeled?) Ethereum in a peculiar way:

“Ethereum presents itself not as a harbinger of genuine revolution, but merely as a novel spectacle of bourgeois upheaval.”

According to him, it is not the system that will make genuine decentralization into reality.

On the "X" social media platform, crypto bros reminded Yakovenko that Solana is also far from mass user adoption. Allegedly, only those with substantial resources can run a network node.

However, Yakovenko dismissed this assertion, stating that one simply needs to be sufficiently tech-savvy, and a standard laptop will suffice.

Oh, the sassiness!

SOLANA VS. ETHEREUM

The confrontation has flared up anew after Rune Christensen, head of the MakerDAO organization, mentioned the project’s migration in early September 2023. He opted for Solana.

Subsequent to this, Vitalik Buterin sold his stake in MakerDAO. While he did not openly criticize the network, he mentioned that the departure of “terrible opportunists with money” was beneficial to it.

By the way, in October 2023, Solana's TVL (Total Value Locked) reached its annual peak, indicating that the network has gradually recovered since those times... when everything plummeted following the bankruptcy of FTX, with which the network had been closely tied due to investments from ALAMEDA & FTX.

Intriguingly, Jump Trading has recently disclosed a substantial financial setback, revealing a loss of over 200 million dollars in the aftermath of the FTX crash.

Remarkably, the company only unveiled these figures nearly a year after the exchange’s collapse, shedding new light on the economic repercussions of that tumultuous period.

TL;DR: XRP is holding steady with increased confidence after a judge rejected the SEC's appeal, confirming that XRP's secondary sales are not considered securities offerings. On the other hand, Solana is experiencing a significant surge in value, with improved network stability and notable adoption as it competes with Ethereum, attracting attention from key figures in the crypto space and reaching its annual peak in Total Value Locked (TVL).

BITE-SIZED NEWS

• US Justice Department Affirms Charges Against Ex-FTX CEO Despite Regulatory Gaps. DOJ reaffirms that ignorance does not exempt from responsibility.

• Legal Experts Discuss SEC's Appeal Denial in Ripple Case. Judge Torres' denial of SEC's appeal caused a stir in the crypto industry.

• Binance Gets Under Legal Fire for Allegedly Sabotaging FTX. Binance gets listed in yet another lawsuit, this time linked to bankrupt FTX.

Sounds interesting? Find more crypto news on our website: 

_{SELECTED MEME OF THE DAY}

Disclaimer: This newsletter is strictly educational. None of this information is intended to be financial advice. Always do your research and act responsibly with your profits.