Share this article
Ether Pushes Past $2K as Ripple's Partial Win Against SEC Invigorates Market
Several layer-1 tokens soared after the Ripple ruling ignited hopes of a favorable ruling in other SEC cases against crypto firms.
Updated Jul 14, 2023, 7:54 p.m. Published Jul 14, 2023, 3:04 a.m.
Make us preferred on Google
Ether is trading hands above $2,000, a three-month high, as the market picked up renewed optimism after a U.S. court found that sales of Ripple’s XRP tokens on exchanges and through algorithms did not constitute investment contracts.
The second largest cryptocurrency by market cap was up 7.4% at $2,010 during the Asian morning hours. Various layer-1 tokens, such as Solana’s SOL, which has been accused by the SEC of being a security, also recorded double digit gains following the Ripple-SEC ruling on Thursday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
At the time of writing, SOL jumped 33.8%, MATIC gained 19.5%, Cardano's ADA was up 25%, and Stellar’s XLM soared 52%, in the last 24 hours.
The governance token of was also up 25% in the last 24 hours. The CoinDesk Market Index (CMI), a measure of crypto markets performance, was up 7.2%.
Bitcoin also passed its one-year high, trading at $31,424. Ripple's XRP nearly doubled after the ruling and was trading 66% at 78 cents at the time of writing.
In the last 12 hours, $203 million worth of short positions by crypto traders was liquidated, according to Coinglass data.
Read more: Ripple, Crypto Industry Score Partial Win in SEC Court Fight Over XRP
UPDATE (July 14, 06:00 UTC): Updates headline, adds links.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
Top Stories
