A fresh SEC appeal against Ripple (XRP) seems to be on the horizon despite the cryptocurrency's legal representation claiming it's a closed case
Cryptocurrency investors are shifting their focus away from XRP and towards an Ethereum (ETH) token called ETFSwap (ETFS) amid uncertainty over a potential fresh SEC appeal in the XRP legal case.
According to the latest crypto news, crypto whales are dumping XRP and buying ETFS, which is currently selling for $0.03846 with the potential to surge past $3 at launch.
As reported earlier, the XRP legal case concluded a few weeks ago with a US judge approving a $125 million fine against Ripple (XRP). However, the court gave either side 60 days to appeal the verdict, which means that until this window closes, the possibility of the SEC filing an appeal remains.
Considering that the SEC initially sought a $2 billion settlement from Ripple (XRP) as opposed to the $125 million approved by the judge, many speculate that the US SEC will appeal to obtain the original settlement amount or something close to it.
The legal battle against XRP has hindered the growth of the cryptocurrency over the past few months. As a result, crypto whales are losing patience and pivoting towards other opportunities.
The Ethereum (ETH) token ETFSwap (ETFS) has captured the attention of crypto whales because just as the XRP coin plays a pivotal role on the XRP Blockchain, ETFS does the same on the ETFSwap trading platform.
Investors Dump XRP, Crypto Whales Shift Focus to Ethereum (ETH) Token ETFS
Crypto whales are the latest set of investors in the ETFSwap (ETFS) presale, which has attracted huge investments from numerous people over the past few months. The Ethereum (ETH) token, ETFS, is the native token of the ETFSwap (ETFS) trading platform.
This Ethereum (ETH) token has raised nearly $4 million so far. Over 370 million tokens have been sold, which is 80% of the total allocated for the presale. Crypto Whales are set to accumulate millions of the ETFS tokens as they are set to launch at over $3, despite currently selling at $0.03846.
This launch price presents an 80x rise. Crypto analysts base this prediction on the exchanges on which the Ethereum (ETH) token is set to launch, including Coinbase, Binance, MEXC, and more.
For a cryptocurrency to launch on top exchanges, it certainly meets many criteria, such as offering a useful product, having a proven team, and having a large user base. ETFSwap (ETFS) checks all these boxes, so the Ethereum (ETH) token is set to skyrocket on launch.
In terms of having a “useful product,” the ETFSwap (ETFS) platform is an ETF DeFi trading platform that enables users to trade real-world exchange-traded funds (ETFs) on the blockchain. The native token of the ETFSwap (ETFS) platform—ETFS—also allows users to earn on the platform.
Speaking of a proven team, the team behind the ETFSwap (ETFS) trading platform has been KYC verified by SolidProof, a smart contract auditing company. Additionally, the ETFSwap (ETFS), its token, and its offerings and services have been audited by CyberScope, an industry-leading security company in the crypto market, and certified safe and authentic.
As for its large user base, ETFSwap (ETFS) has recorded over 500,000 individuals who have shown interest in its beta app and are set to start using it when it launches.
These criteria, which the ETFSwap (ETFS) platform and its native token meet, show these crypto whales that it has what it takes to soar massively at launch. It also shows that investors such as crypto whales who have dumped XRP can be confident that the Ethereum (ETH) token will be listed on major exchanges.
Investors Dump Ripple (XRP) As Legal Case Drags
A few weeks back, the legal case against Ripple (XRP) ended after a US judge approved a fine of $125 million against Ripple (XRP). However, the court allowed either side to appeal the verdict within 60 days, meaning that until this window closed, no one could rule out the possibility of the SEC appealing.
Since the SEC was looking to have Ripple (XRP) pay a settlement of $2 billion instead of the $125 million approved by the judge, many speculate that the US SEC will appeal to get the original settlement amount or close to it.
The legal battle against XRP has affected the growth of the crypto coin over the past few months. Crypto Whales are now starting to lose patience and focusing on other opportunities. The Ethereum (ETH) token ETFSwap (ETFS) has caught the attention of these crypto Whales because just as the Ripple coin plays a huge role on the Ripple Blockchain, ETFS does the same on the ETFSwap trading platform.
Conclusion
As Ripple (XRP) continues to battle uncertainty
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