The post Weekend Action: Lido DAO Plunges Under $2, Raboo Holders Excited About Gains, Whilst XRP Trades green appeared first on Coinpedia Fintech News
The market this weekend is garnering much attention with interesting updates from the U.S. Securities and Exchange Commission (SEC). Unfortunately, some top altcoins like Lido DAO (LDO) and XRP are trading negatively amid these updates.
However, a debut meme coin, Raboo (RABT), seems unaffected by these announcements but keeps progressing in its presale, having raised over $1.9 million as it keeps attracting investors to buy its token.
Lido DAO securitization by SEC rattles crypto industry, LDO price drops
Few days ago, the U.S. SEC made an announcement concerning Lido DAO, which has been causing an uproar in the crypto industry – that the Ethereum-based staking platform, Lido DAO, is now categorized as a security. The SEC defines securities as assets in which investors expect to make profits derived from the efforts of others.
Lido DAO being categorized as a security token implies that it will have to comply with securities regulations, such as the inability of unaccredited investors to own LDO, leading to a decline in the adoption of the token. Because of this announcement, the price of LDO plummeted within 24 hours by 1.2% to a price of $1.92, However, an uptick of 4.59% over the last 24 hours incited sentiments among many investors to hold the token.
Ripple wins key battles in SEC lawsuit, XRP price yet to respond
Recently, two interesting court decisions were made regarding the ongoing lawsuit between Ripple (XRP) and the U.S. Securities and Exchange Commission (SEC). The first court decision was a disagreement with the SEC and a dismissal of its claims that when people purchased, in this case, BNB tokens on an exchange, it counted as an unregistered security offering. The second decision was that any XRP tokens directly sold to institutional investors and later traded on secondary exchanges do not count as securities.
These recent court decisions were expected to have positive implications for XRP. However, XRP has been slow to recover, a 24-hour chart indicates a 0.71% increase to a current price of $0.477. Nevertheless, experts remain optimistic that the court rulings will trigger a rally in XRP soon.
Raboo presale stage 4: Community building and meme power fuel token growth
While top altcoins like Ripple and Lido DAO plummet in the market amid regulatory challenges, Raboo keeps skyrocketing in its ongoing presale, drawing investors with its intriguing incentives and forward-thinking community. Having progressed to Stage 4 of the presale, the Raboo token is currently selling for just $0.0048 per token, cementing its status as one of the best DeFi projects poised for substantial gains.
One of the key incentives Raboo offers adopters of the $RABT token is the opportunity to become an integral part of its vibrant ecosystem. This implies that $RABT holders will secure a stake in the future of meme-based tokens and also unlock endless possibilities within Raboo’s expansive universe.
Adopters of $RABT tokens will also experience the robust community-building efforts of the platform. They will engage with meme enthusiasts across various social media platforms, ensuring that the platform’s vision is shared by a dedicated and passionate group of supporters, who are ready to excel in the meme sector along with the platform.
Conclusion
Despite the market turmoil caused by regulatory challenges surrounding Lido DAO and Ripple’s XRP, the debut meme coin Raboo appears to be thriving as one of the best DeFi projects in the meme sector.
While LDO and XRP have seen their prices plummet in the face of SEC scrutiny, the presale token’s strong community-building efforts and the expansive possibilities within its ecosystem keep drawing in investors looking for substantial gains in the crypto industry.
You can participate in the Raboo presale here:
Telegram: https://t.me/RabootokenPortal
Twitter: https://twitter.com/Raboo_Official