After a long hiatus of a year, the bulls are finally making their presence felt on the crypto markets. Bitcoin (BTC) is comfortably maintaining its price around the $30k mark, and most altcoins are sustaining their current levels too. Two cryptos, however, have made significant gains over the past week: Arbitrum (ARB) and TMS Network (TMSN). Arbitrum (ARB) and TMS Network (TMSN) are industry newcomers, but their gains have outshined even established tokens. In contrast, the ailing Ripple (XRP) token seems stuck in limbo.
Arbitrum (ARB) was a hotbed of activity this past week. The layer-2 scaling solution launched a few weeks ago but is already embroiled in controversy. The Arbitrum Foundation, which operates Arbitrum (ARB), moved 700 million Arbitrum (ARB) tokens from the DAO treasury without the latter’s approval. This angered the Arbitrum (ARB) community, who interpreted the move as an attempt to sideline the Arbitrum (ARB) holders, who should have governance rights. Later, the community forced the setup of another proposal asking the foundation to return transferred Arbitrum (ARB) tokens to the DAO. However, the community voted down the proposal by an overwhelming majority.
In the run-up to the amended proposal’s voting, Arbitrum (ARB) soared in value, growing 30% in just a week. However, since the voting, Arbitrum (ARB) has not moved in any direction meaningfully.
TMS Network (TMSN)
TMS Network (TMSN) is on its way to delivering one of the best ICOs of 2023. The upcoming decentralized exchange allows users to trade cryptos, CFDs, forex, and equities on the platform. As the first DEX to support forex and equity trading, TMS Network (TMSN) gained huge traction in the industry.
TMS Network (TMSN) is currently raising funds with an ICO. TMS Network (TMSN) began its presale at $0.025 a few months ago. Currently, TMS Network (TMSN) is offering its tokens in stage 3 presale at $0.08, which is more than 200% gains. In fact, TMS Network (TMSN) wrapped up its stage 2 presale at $0.05, which places its current price at a 50% premium. All early investors in TMS Network (TMSN) are walking home with 2x to 3x returns in a span of weeks. Analysts expect TMS Network (TMSN) to grow by 5,000% in the coming months.
Ripple (XRP) has had one of the most perplexing and frustrating years so far. Ripple (XRP) is locked in a legal battle with the U.S. SEC, which claims that Ripple’s (XRP) tokens must be treated as securities. After years of speculation, things finally started tilting towards Ripple (XRP). Legal pundits and crypto lawyers observing the trial expressed their opinion that Ripple (XRP) will likely win the case. However, allegations that insider trading could be happening in the run-up to the verdict have left investors baffled.
Ripple (XRP), for its part, has been largely silent on the issue. In fact, the Ripple (XRP) team has been partnering with financial institutions and fintech services providers to promote the use of its blockchain. In fact, Ripple (XRP) has shown no signs of fatigue or apprehension on account of the SEC’s lawsuit. Only time will tell whether they are confident in their ability to win the case or just putting up a good poker face. For now, Ripple (XRP) is not moving anywhere – up or down.
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