Will XRP Overtake ETH? Crypto Inaugural Ball, and More — Week in Review

Week in Review

This week in crypto brought major developments, from XRP’s price surge challenging Ethereum to a groundbreaking inaugural Crypto Ball in the U.S. Here are the highlights:

XRP Inches Closer to Overtaking Ethereum

XRP experienced a remarkable price surge, reaching an intraday high of $2.895 on Wednesday. As of now, it’s trading at $2.87, narrowing the gap with Ethereum in terms of market capitalization. This development has sparked debates within the crypto community, especially among Ethereum proponents.

Editor’s Comment: Ethereum maxis now face the challenging perspective of being outpaced, a dynamic that brings excitement and tension to the market.

Crypto Ball: A New Era for U.S. Crypto Leadership

The inaugural Crypto Ball, hosted in Washington D.C., celebrated the pro-crypto agenda of President-elect Trump. Industry leaders gathered to mark what many consider a new dawn for cryptocurrency innovation and policy in the U.S.

Editor’s Comment: This event showcases the unity and energy of the crypto industry in advancing its role within U.S. politics and governance.

Trump’s Executive Orders Signal Crypto Policy Overhaul

Reports suggest that Trump’s first-day executive orders will aim to revise Biden-era crypto policies. The anticipated changes include streamlining regulations to foster innovation while maintaining financial security.

Editor’s Comment: The coming months will reveal whether these reforms will strengthen the U.S. crypto landscape or introduce unforeseen challenges.

Tether Relocates to El Salvador

Tether has announced plans to relocate its headquarters to El Salvador after obtaining a stablecoin issuer license from the country’s regulatory body. This move aligns with El Salvador’s ambitious efforts to position itself as a global crypto hub.

Editor’s Comment: Despite skepticism, this decision emphasizes El Salvador’s growing influence in the crypto ecosystem and Tether’s strategic alignment with supportive jurisdictions.

Sony’s Soneium Faces Pushback on Meme Coin Ban

Sony’s Ethereum Layer 2 solution, Soneium, sparked controversy by attempting to block meme coins to curb unauthorized activities. Users, however, quickly found ways to circumvent these restrictions, reigniting debates on decentralization and platform control.

Editor’s Comment: This highlights the importance of blockchain architecture and user autonomy. Soneium’s approach raises questions about balancing control with decentralization.