Former US congressional candidate David Gokhshtein is directing his support for Doge and Shiba to different altcoin projects. The crypto phenomenon had previously posted supportive tweets within LUNC.
David Gokhshtein shared his new goals amid the crisis in the altcoin market
Ripple (XRP), which is a defendant with the SEC, is at the top of the agenda of the former politician lately. Referring to recent events, Gokhshtein says XRP is “making more sense now.” The cryptocurrency market was in a difficult situation with the bankruptcy of FTX, one of the largest exchanges, in November. Gokhshtein, on the other hand, says that XRP and Algorand (ALGO) will now stand out more at this point:
Cryptos like XRP and ALGO make more sense if you zoom out and look at the whole picture. Not from the price, but from the events that are happening now.
Assets like $XRP and $ALGO make more and more sense now if you zoom out and look at the entire picture.
Not price — but the events that are happening right now.
— David Gokhshtein (@davidgokhshtein) November 16, 2022
This year, the entire cryptocurrency market, including Bitcoin and Ethereum, had to perform poorly. While one of them is XRP, Gokhshtein highlights the latest events in the market instead of prices. Right now the reputation of the market is pretty tarnished with the collapse of FTX. Investors are now turning to decentralized alternatives after one of the largest centralized exchanges collapsed. As Binance CEO CZ said, we may see more bankruptcy news in the coming days.
FTX’s bankruptcy spreads to affiliated companies
cryptocoin.com We have reported the bankruptcy of Genesis Global, which lost some of its funds in FTX wallets. The Bitcoin exchange announced on Twitter yesterday that it will “temporarily suspend lending and new credit formations.” In Gemini, one of the largest stock exchanges in the market, the products of the Earn program had to be discontinued. Gemini, an NFT-focused exchange, suspended withdrawals from the Earn program shortly after Genesis’ announcement. However, amid this crisis in the altcoin market, Ripple continues to announce new news.
Announcements (part 2) with more to come
– Nearly 40 payout markets are live for ODL, representing 90% of FX markets
– 19+ new and upgraded from fiat ODL customers across the globe
– @realsupermojo is live using Liquidity Hub to source ETH https://t.co/snACky5vSh— Brad Garlinghouse (@bgarlinghouse) November 16, 2022
In the midst of the ongoing crisis, the Ripple company has released its new growth calendar. Here are the developments to CEO Brad Garlinghouse:
- Ripple’s ODL enters its sixth continent, Africa, with $30 billion in payments on RippleNet for both fiat and cryptocurrency.
- Ripple announced its African entry earlier this week as a result of a partnership with online payment gateway MFS Africa.
- Using Ripple’s On-Demand Liquidity (ODL) technology for crypto-enabled payments, MFS Africa will make it easier for customers and businesses in Africa to send real-time payments across borders using their mobile phones, with the help of the new partnership.
- Additionally, Ripple announced that ODL has expanded to around 40 payment markets worldwide. This represents about 90% of the FX market.
Latest developments on the altcoin market from the SEC lawsuit
In the ongoing lawsuit, 14 amicus briefings supporting Ripple were approved by the court. Most have already been brought to court over the past week. Gohkshtein, on the other hand, predicts that the entire market will rise parabolic after the lawsuit. He predicts that XRP and other legitimate platforms will go bull once Ripple wins its case against the SEC.
