After XRP Bombshell, Crypto Analyst Says 5 Altcoins Are Likely Safe From SEC

Spread the love

Crypto strategist and influencer Tyler Swope is naming five altcoins that he believes are likely not in the crosshairs of the U.S. Securities and Exchange Commission (SEC).

In a new video, Swope tells his 163,000 subscribers that the SEC’s lawsuit against Ripple could foreshadow future action against other crypto projects.

“The evidence mounted against Ripple, it’s fierce and this time, precedent could be set as the lawsuit, it is in federal court with the SEC. The outcome, it will have ramifications not only for Ripple, XRP, and those involved, but those that fall within the securities basket.”

The trader highlights a select group of altcoins that he thinks will likely not be targeted. He says tokens of decentralized autonomous organizations (DAOs) like PieDAO’s DOUGH are at the top of his safe list.

“It’s obvious if an altcoin or project raised no funds from investors, they more than likely don’t have much to worry about right now. And even better is when a project is run by a DAO, decentralized autonomous organization. Thus, there is no company, aka Ripple, to go after.”

Swope also says that projects that raised funds with SEC approval should also be safe. He mentions two noteworthy projects that received the green light from the regulatory body: enterprise-grade blockchain for the energy space Energy Web Chain (EWT) and DApp and smart contract builder Blockstack (STX).

RECOMMENDED READ:  Ethereum Price Movement Analysis for 19th March, 2021

Swope highlights Energy Web chief executive Walter Kok’s statement saying that regulatory compliance is a must as the project runs its operation on a global scale.

As for Blockstack, Swope notes that the project is the first to put together an SEC-qualified token offering to the public via Regulation A+, which he refers to as the “mini IPO (initial public offering).”

Another token type that’s safe, according to Swope, are projects that launched airdrops such as decentralized exchange Uniswap (UNI) and decentralized exchange aggregator 1inch.

 

“They are just governance tokens and of course, no money was raised. So Uniswap, it’s most likely safe… Guess who just updated their GitHub with a token and the contract was deployed to the Ethereum blockchain, as we can see 1inch.” 

 276 Interactions,  8 today

READ ALSO:
Bitcoin Price Movement Analysis for 11th April, 2021

Is Bitcoin nearing its peak? It's unlikely. Many on-chain measurements revealed that, although Bitcoin was highly bullish, it had not Read more

Fidelity’s Tom Jessop on why Crypto has reached a “tipping point.”

The crypto market has gained traction as a result of low interest rates and fiscal stimulus, according to a Fidelity Read more

How arrests for attempting to obtain a hitman and a nuclear bomb demonstrate that the dark web is not always anonymous.

Paying with cryptocurrency does not guarantee your safety. Most of the criticisms levelled at cryptocurrencies is that its difficult-to-trace existence Read more

Bitcoin, BTT, Dogecoin Price Movement Analysis for 7th April, 2021

Bitcoin was expected to remain above the $55,800-support, a level that coincided with its 200-SMA. BitTorrent Token was projected to Read more

The cryptocurrency market cap has surpassed $2 trillion, making it as valuable as Apple.

For the first time, the total market value of all cryptocurrencies exceeds $2 trillion. According to Goingecko numbers, the total Read more

Why crypto analyst Ben Armstrong says, ‘He Very Confident Bitcoin Will Reach $300K This Year.’

Recently, blockchain expert and influencer Ben Armstrong mentioned Bitcoin in a video posted to his highly popular YouTube channel “BitBoy Read more

RECOMMENDED READ:  The governor of Nigeria's central bank reports the country's not discouraging people from trading cryptocurrencies.
Binance Coin, Dogecoin, SushiSwap Price Movement Analysis for 4th April, 2021

Binance Coin predicted that fresher record thresholds will be set in the coming days due to solid technicals. Following a Read more

Tron Price Movement Analysis for 4th April, 2021

In the cryptocurrency industry, excessive uncertainty has had a long-term effect on the price of the digital commodity. This uncertainty Read more

Ethereum Price Movement Analysis for 4th April, 2021

Ethereum, the second-largest cryptocurrency, has entered a volatile zone, which could drive the digital asset's price even higher. In the Read more

Chainlink, DigiByte, Enjin Coin Price Movement Analysis for 4th April, 2021

Bitcoin faced some selling pressure just above the $59k mark, leading it to slip to $56,600. The majority of the Read more

Bitcoin fell by more than 4%, causing many other cryptocurrencies to plummet drastically.

The world's most expensive cryptocurrency fell 4.1 percent, bringing several other coins down with it, sending the economy into the Read more

Leave a Reply

Contact Us