Amidst the turbulence of market correction, Ripple is weathering further setbacks that could negatively affect the outcome of the XRP lawsuit. Meanwhile, the KuCoin exchange is grappling with its troubles, witnessing a significant withdrawal of investments as users seek to safeguard their assets in light of the allegations by the U.S. Department of Justice (DOJ).
As the crypto community navigates through these turbulent times, all eyes are on BlockDAG (BDAG), the presale rising star. Having already raised $11.3 million despite being only on its sixth presale batch, BlockDAG shows no signs of slowing down as it sets its eyes on the $600 million presale haul by the end of 2024.
KuCoin Suffers $1.1 Billion Withdrawal
The Kucoin exchange has suffered a $1.1 billion withdrawal following the U.S. Department of Justice (DOJ) indictment. The charges against Kucoin and its founders, Chun Gan and Ke Tang, allege violations of Anti-Money Laundering laws and operating without a proper license.
The DOJ claims Kucoin failed to implement adequate AML procedures, making it a platform for illicit money laundering. It also was unable to verify customer identities or report suspicious activities. Despite this, Kucoin has assured its users that operations are continuing smoothly and that user assets are safe, indicating that they are investigating the charges with legal counsel.
XRP Enters Consolidation Amid XRP Lawsuit Setback
The XRP price is struggling to break the $0.65 resistance level and has retreated to $0.61. This comes after a U.S. court ruled against Coinbase in the lawsuit by the SEC, which negatively impacted Ripple’s legal battle. The ruling dismissed Coinbase’s defence, which relied on a previous Ripple ruling, suggesting that the SEC’s allegations of unregistered securities trading could proceed. This development may influence the XRP lawsuit with the SEC, particularly regarding XRP’s classification as a security.
Meanwhile, the XRP price is consolidating, potentially dropping to the $0.56 level if it falls below $0.60. Conversely, a close above $0.63 could reverse the bearish outlook and push prices towards the year-to-date high of $0.7440.
BlockDAG – The Next Crypto Gem Rising
BlockDAG (BDAG) is making waves in the presale market, rapidly gaining funding, having amassed $11.3 million so far. Investors’ interest in the project reached new heights when BlockDAG’s keynote address was broadcast on the digital screens of Shibuya Crossing in Tokyo. In this keynote, BlockDAG unveiled its lofty ambitions to raise $600 million by 2024 and secure a top 50 ranking on Coinmarketcap and CoinGecko.
BlockDAG also has boldly positioned itself as a potential rival to established giants like Bitcoin, Helium, and Kaspa, promising investors a comparably lucrative ROI. For those who buy into the current batch, priced at $0.0035 per BDAG, the prospect of a launch price of $0.05 suggests an ROI of approximately 1566% when the project launches on exchanges.
However, BlockDAG offers more than just an attractive investment opportunity. It also presents an avenue for earning up to $100 in daily passive income through its X-series mining rigs, designed to mine BDAG alongside other major cryptos, including Bitcoin.
As BlockDAG continues to chart its ambitious course through the crypto market, it’s clear that this project is not just another presale opportunity. With its innovative approach to blockchain technology and a solid strategy for growth and investment returns, BlockDAG is setting itself up as the next crypto gem to watch for 2024.
In response to the overwhelming early investor interest and the $11.3 million raised quickly, BlockDAG, currently priced at $0.0035 in the sixth batch, has announced a $2 million mega giveaway for 50 lucky community members. Investors can participate in the giveaway by following BlockDAG’s social media channels, submitting their wallet addresses, increasing their winning chances by completing all quests, and inviting friends for additional entries.
In Summary
XRP faces a challenging period as it enters consolidation, with recent court rulings against Coinbase potentially affecting the outcome of the XRP lawsuit with the SEC. Meanwhile, KuCoin has suffered significant withdrawals amounting to $1.1 billion following charges by the U.S. Department of Justice, though the platform reassures users of the safety of their assets.
Not to be outdone, BlockDAG (BDAG) emerges as a promising new player in the presale market, having raised $11.3M so far. It lures investors with a staggering 1566% post-launch ROI potential.
Join BlockDAG Presale Now:
Website: https://blockdag.network
Presale: https://purchase.blockdag.network
Telegram:https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu