TL;DR
XRP has seen increased discussion on social media due to Bitwise’s ETF filing and new developments in Ripple vs. SEC. Aptos (APT) gained attention for its Asian expansion, while Chainlink (LINK)’s recent popularity is tied to its collaboration with SWIFT.
Increase in topics regarding XRP
Crypto analysis platform Santiment estimated that Ripple’s native token has recently experienced the most heightened discussion across social media.
One of the factors that will play a role is Bitwise’s filing of an XRP exchange traded fund (ETF). As reported by CryptoPotato, the company has registered a product in Delaware, sparking enthusiasm and anticipation in the community that an ETF related to the asset could emerge.
XRP has been trending in part due to the US SEC’s decision to appeal the 2023 verdict handed down by Federal Judge Torres. At the time, a magistrate ruled that the secondary sale of Ripple’s tokens did not constitute a securities sale.
Regulators have until October 7 to fight, and many market participants expected the long legal battle to end if regulators remained silent. However, the filing of the appeal means the case could continue for several more years, creating new uncertainty.
XRP price reacted negatively to this news, dropping by double digits to a monthly low of around $0.51. It has rebounded slightly over the past few days and is currently trading around $0.52 (according to data from CoinGecko).
XRP price, source: CoinGecko
Other trending cryptocurrencies
According to Santiment, the top three most discussed digital asset clubs were Aptos (APT) and Chainlink (LINK).
Aptos Labs recently agreed to acquire Japanese non-fungible token (NFT) service provider HashPalette, indicating its intention to expand its presence in Asia.
“Japan is an important market for Aptos Labs. The agreement to acquire HashPalette and the migration of HashPort’s Palette Chain to Aptos is an important first step in bringing cutting-edge blockchain technology to Japanese companies and developers. Ayumu,” said Mo Shaikh, founder and CEO of Aptos Labs.
APT’s rise in popularity may also be related to Franklin Templeton’s launch of the on-chain U.S. Government Money Fund (FOBXX) on the Aptos blockchain.
“This integration is an important milestone in the convergence of TradFi and decentralized technology, further positioning Aptos as the leading network for enabling secure, high-performance, and interoperable financial solutions.” Block Chain platform team said.
APT price is a top performer in the market following the aforementioned trends. Its current value is approximately $8.60, representing a 20% increase on a two-week scale.
APT price, source: CoinGecko
Chainlink (LINK) ranked third in terms of biggest social buzz. Santiment noted that industry participants are excited about SWIFT’s collaboration in blockchain technology.
“The trials of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and its role in connecting various blockchain networks for financial institutions have been successful,” the analytics platform said.
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