Top Crypto Analysts Go All In On Degrain (DGRN) As Ripple (XRP) and Apecoin (APE) Struggle

The bear market has had a negative effect on many tokens, including Ripple (XRP) and Apecoin (APE). The two tokens have made their investors a lot of money in the past; however, as people get more cautious about holding crypto assets in the current market, they have both been losing popularity.

Timeline of Apecoin-ape, , Xrp

On Friday, the cryptocurrency market gained more ground as traders anticipated an immediate rebound from the inflation crisis. Traders are searching for new crypto investments to protect themselves from market inflation by stabilizing their profits and supplying a more reliable source of income.

Apecoin DAO community members have approved a governance proposal that will fund a Bored Ape Yacht Club (BAYC)-centric news publication called the Bored Ape Gazette with $150,000 for the first year.

The SEC and Ripple case has reached a frustrating impasse as both sides struggle to hold their ground. Only recently, Ripple Legal filed a motion to thwart the SEC in which they targeted the SEC's unlawful methods.

The downturn that has tormented the crypto markets of late has left a trail of perished ventures in its trail, alongside billions in investor losses due to sharp declines in asset prices.

Apecoin DAO will fund the Bored Ape Gazette to create a newsletter and to pay the freelancers as we can see more today in our latest cryptocurrency news today. While the NFT market might be slowing down, the Bored Ape Focused news outlet is getting a boost thanks to the ApeCoin DAO treasury.

Ripple's XRP-powered, cross-border payment product has seen massive growth in volume year-on-year (YoY) despite the company's ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). In the second quarter of 2022, the payment product called On-Demand Liquidity (ODL) had a 9x growth in volume YoY, according to a new market report from Ripple.

Ripple Labs released its Q2 2022 report highlighting various development aspects, while also highlighting market dynamics affecting its performance. A key highlight of the report was the confirmation of the company's pursuits aimed at tapping into opportunities in the NFT market.

Ripple's general counsel has urged U.S. lawmakers to pass “sensible crypto legislation” amid a Securities and Exchange Commission (SEC) lawsuit over the sale of xrp. “Rather than providing regulatory clarity through rulemaking, the SEC is bullying crypto markets by filing unproven allegations masquerading as regulation,” he opined.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. In the past few days, Bitcoin was able to defend the $20.8k support level and rapidly climbed from those lows to trade at $23.8k at press time.

Ripple's $XRP-powered On-Demand Liquidity (ODL) solution has seen its volume grow 9x year-over-year in the second quarter of the year, and the company has sold a total of $408.9 million worth of the token in the quarter, compared to $273.27 million in Q1.