XRP: Ripple Awaits Crucial Legal Developments
The XRP community is eagerly awaiting updates in the ongoing Ripple-SEC lawsuit as the deadline for the remedies-related discovery phase approaches on February 12. The SEC has filed a motion to compel Ripple to disclose its financial statements for 2022 and 2023, as well as details of post-complaint contracts with institutions. Ripple argues that revealing these contracts could lead to unnecessary legal scrutiny. These legal developments could have a significant impact on XRP’s market performance.
Polygon (MATIC) Prepares For The Etrog Upgrade
Polygon is set to upgrade its zkEVM to a Type 2 ZK-EVM on February 6. The Etrog upgrade promises improved compatibility and efficiency for developers and users by allowing them to deploy code on the Polygon zkEVM exactly as it is on Ethereum. The upgrade also introduces additional pre-compiled smart contracts and enhances network efficiency. MATIC is currently trading just above the 200-day EMA, and if this support holds, the next target could be the resistance at $0.7932.
Avalanche (AVAX) / Shrapnel (SHRAP) Gear Up For Crypto GameFi Launch
Shrapnel, a GameFi project developed by Neon Machine, is set to begin early access on February 8. This blockchain-based shooter game has gained attention in the crypto space with a successful token sale. Players in Shrapnel compete for a resource called compound sigma using NFTs, and the SHRAP token plays a central role in the game’s governance. The launch of Shrapnel could impact both SHRAP and AVAX prices. AVAX has been consolidating after a rally and is now aiming to break above the 0.236 Fib at $41.92.
Hot Take: Altcoin Projects to Watch This Week
This week, keep an eye on Ripple (XRP), Polygon (MATIC), and Avalanche (AVAX) along with its associated GameFi project, Shrapnel (SHRAP). The ongoing legal developments in the Ripple-SEC lawsuit could influence XRP’s market performance. Polygon’s Etrog upgrade brings improved compatibility and efficiency for developers, while the launch of Shrapnel could impact both SHRAP and AVAX prices. Stay updated on these altcoin projects as they potentially shape the dynamics of the crypto market this week.
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