Cryptocurrency: a Lawsuit against Ripple in the Federal court concerned investors
The total market capitalization of cryptocurrency market is $211 billion over the last 24 hours, the industry lost $1 billion, although the price of the leading asset changed little.
The exchange rate of bitcoin is around $6373, in recent days the price decreased by -0,43%. Ethereum, whose price fell by more than 70% over the last six months, trading at $205. ETH trading volumes fell by more than two times, demonstrating the loss of interest by investors. This is largely due to the end of the “era ICO” when the daily mass of projects in various stages of development and with obscure products collected hundreds of millions of dollars from investors from around the world, giving them in return only sweet promises.
However, among ICO, there are those that don’t bothers to look – we are talking about the sensational TON from the command Telegram. Coin Gram, which was distributed among investors during ICO TON can be much larger in price after the launch of blockchain-platform, scheduled for December.
Let me remind you that during the closed rounds ICO platform raised $1.7 billion among a select circle 175 the richest and most famous businessmen. The overall weight of the coin 5 billion, currently sold 2.89 billion tokens.
In the first phase were sold 2.25 billion tokens at a price of $0,38, the second — 639 million $of 1.33, that is 3.5 times more expensive. The next Gram will be sold more expensive, which will allow you to obtain quick profits to the investors earlier editions, provided that they will sell their Gram. However, while the future development of the blockchain from the Telegram is very vague, and depends more on speculative factors, rather than from the real value and innovation.
Think the clouds are again gathering over a third of the capitalization of cryptocurrency, Ripple, and XRP token. We are talking about the transfer of the lawsuit to $167.7 million vs Ripple in U.S. Federal court.
Investors are trying to obtain compensation for the lost as the result of a fall in the value of XRP tools, recognizing the token of unregistered securities, the price of which is artificially manipulated.
However, it is similar to the transfer of the case to the higher court wanted the lawyers Ripple Lab, and there are substantial reasons – the number of plaintiffs cases exceeded one hundred, and the amount of the claim looks very impressive.
In my opinion, from a purely legal point of view, grounds for recognition of the XRP security no. Guided by the Howey Test, because the XRP tokens have a specific practical utility and are used for transactions of currency type, they are not securities.
“International Financial Center”