Amid a bearish market, Dogecoin, EOS, and XRP are thriving

We don’t need to say that this isn’t the best moment for the crypto market. The spectacular fall of the exchange FTX is dragging most coins with it, but not all of them. While Bitcoin (BTC) is still resisting at $16,000, other assets are overcoming the tide and growing. Remarkable cases of this include Dogecoin (DOGE), EOS, and XRP.

In the first case, the growth may or may not be short-lived, given that it came from a rumor. According to the crypto podcaster and influencer David Gokhshtein, Vitalik Buterin (Ethereum founder) and Elon Musk (Tesla CEO) could be working together to upgrade the Dogecoin blockchain.

More specifically, that upgrade could be a change from Proof-of-Work (PoW) to Proof-of-Stake (PoS) or something in between. That could be easily hinted at by the Dogecoin Trail Map, which is already planning to enable the staking for the users of this chain. On the other hand, if DOGE completely changes to PoS, that would mean no more crypto mining of this coin; just like it happened with Ethereum this year.

We also need to consider that Buterin and Musk are already part of the Fondazione Dogecoin as advisers. Therefore, the rumor may actually become true any time now. Likely as a result of this information, DOGE pumped by over 17% in the last 24h, to reach a price of $0.094 per token [CMC].

EOS, for its part, received attention again because it’s launching a $100 million fund to invest in projects inside this chain. To make that possible and attract new corporate participants, the fund will be managed by a new for-profit entity called EOS Network Ventures (ENV). Perhaps as a positive consequence, EOS has increased by over 6% in the last week.

Some good news for XRP

Along with Dogecoin and EOS, we can say that XRP has been bullish in the last months —despite the market conditions. That could be due to the small legal victories of Ripple Labs (the firm behind XRP) against the US Securities and Exchange Commission (SEC). The last development of this case includes Ripple’s possession of records of former Division Director William Hinman’s speech, where he assured that Bitcoin and Ethereum aren’t securities.

For some legal experts, this could be the key to winning over the legal battle that started in 2020. A settlement could be reached this year if the odds favor Ripple Labs. Now, beyond those updates, we can also mention that Ripple is seeking a new license in the Republic of Ireland. Besides, the first USD stablecoin (USDS) on XRP Ledger was recently rilasciato by the startup Stably Corporation.

During the last week, XRP has increased by over 10%, hitting a price of $0.41 per token. Other bullish chains and coins we can mention for the same period are Curve DAO Token (+26%), Litecoin (+22%), Dash (+22%), Chainlink (+13%), and BNB (+13%).

Wanna trade DOGE, XRP, and other tokens? You can do it in modo sicuro su Alfacash! And don’t forget we’re talking about this and many other things on our social media.

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