After a strong week in the crypto world, it’s a bit of a shame to be seeing so many coins down today, but that’s the way things go sometimes. Here’s an update on what’s happening with Ripple (XRP), TRON (TRX), and Lisk (LSK).
Ripple is currently selling for $0.643351, which puts the coin down 3.66% in the past 24 hours.
Although Ripple is down for the day right now, XRP is up 32% in the past seven days, so it’s not all doom and gloom out there.
One reason that XRP might be down today is its involvement in crypto regulations. Ripple hasn’t been shy about its position on regulation in the past. CEO Brad Garlinghouse has been very outspoken about his belief that cryptocurrencies need to work with government regulations in order to sustain the crypto revolution – not exactly the most popular sentiment among the crypto community.
Once again, Ripple is proclaiming its regulatory stance. Ripple’s head of regulatory relations, Ryan Zagone, wants UK regulators to implement new rules.
Zagone told UK news source The Telegraph, “We’re at that time now where we need more clarity and rules and we need more certainty. It’s a good time to start revisiting that ‘wait and see’ approach taken by regulators.”
Ripple’s stance is about balance – finding a balance between “capturing risk and enabling innovation.” Regulations should start by focusing on consumer protection, anti-money laundering, and financial stability.
Zagone and Ripple may be right, but XRP may also be suffering because of it.
Do you think there’s a connection between XRP’s drop and Ripple’s renewed emphasis on crypto regulation?
TRON is currently selling for $0.040600, which puts the coin down 3.26% in the past 24 hours.
Like Ripple, TRON is also up for the week, despite being down for the day. In the past seven days, it has grown 16% and has grown 32% in the past 30 days.
TRX’s growth over the last month may be due to TRON’s upcoming migration from an ERC20 token to being full TRX. The migration is set to happen on June 21st.
— Justin Sun (@justinsuntron) April 15, 2018
Although the migration notice alone isn’t helping out TRX today, the coin may start rising as the migration date approaches. This makes TRX a good coin to watch over the course of the next few weeks.
Are you excited about the TRON migration?
Lisk is currently selling for $10.26, which puts the coin down 0.74% in the past 24 hours.
Out of the three coins included in this update, Lisk is the closest to rolling over into the green. Lisk was growing several hours ago and has since slackened, so at this point, the coin could head in either direction. As a whole, it is up by 20% in the past seven days.
Lisk is currently in the process of getting users to test the Betanet of Lisk Core 1.0.0 and is actively seeking feedback for what they can improve. Ranked as the 23rd largest cryptocurrency, it still has a long way to go in its project developments so don’t write Lisk off just yet.
Featured image: Darilon via Pixabay