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This price increase also allowed the altcoin to strengthen against its biggest competitor, Bitcoin (BTC), by about 0.71% throughout the past day.
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On the other hand, the crypto’s 24-hour trading volume experienced a decrease of more than 20%.
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it succeeded in flipping its weekly performance back into the green. At press time, ETH was up 0.29% over the past seven days.
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Brad Garlinghouse also accused the SEC and the Biden administration of putting politics ahead of smart policy, leading to crypto entrepreneurs and innovation moving out of the United States.
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The Hinman documents are internal communications and speeches related to William Hinman, the SEC’s former Director of Corporation Finance, who stated in 2018 that Ethereum is not a security. The SEC has made several attempts to seal these documents, given the precedent they may set in the ongoing lawsuit against Ripple.
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The Ripple CEO’s estimation of a resolution is based on the recent decision of the overseeing judge to deny the securities regulator’s motion to seal the infamous Hinman documents, which Garlinghouse believes is an indicator of the court’s sentiment.
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