Santiment, a crypto market intelligence platform, has released a research note on the most talked-about cryptocurrencies this week. Bitcoin (BTC) is anticipated to lead the pack, with expectations that the upcoming halving event, just around a week away, will drive prices upwards in the near term.
The halving, which sees old bitcoins “half-destroyed,” causing a 50% cut in the new digital coins miners receive in reward, is prime bull territory, and many expect the price to hit $80,000 after the event. Previously, the cryptocurrency market has been known to surge in a rally for Bitcoin and other digital currencies.
Ethereum (ETH) shares second position with Bitcoin (BTC) being its chief rival. The main controversies regarding Ethereum revolve around the possibility of its further development, the current highly expensive transactions, and the threshold of congestion in the network, which the developers are working on improving. Solana was the third that secured the shallow spot among users, mainly due to bad network congestion issues vendors are facing when transacting in the system.
Unbelievably, Ripple’s XRP is in seventh position defeating Lido DAO (LDO), SafePal (SFP), and Tron (TRX). For XRP, the volume of conversations about it is rallying because Ripple is still facing away with the US Securities and Exchange Commission (SEC). This case which has brought up a lot of tension and has dragged on for 3 years is for a possible hearing on April 23.
The outcome of the legal battle can completely alter the price of XRP in terms of price fluctuation to the least. XRP plays a significant role in the cryptocurrency market, so the outcome of this lawsuit can have a major impact.
Also Read: Halving simplified: Here’s everything you need to know about Bitcoin Halving 2024
