• Donald Trump was discovered to be holding up to $500,000 worth of Ethereum in April.
• Ethereum lost nearly 10% of its value within the last seven days after Ripple’s legal battle with the SEC.
• ChatGPT has proven to be an advantageous natural language processing tool for traders and analysts.
Donald Trump Holds Ethereum
In April 2021, former U.S. President and 2024 White House contender Donald Trump was found to have up to $500,000 held in an Ethereum [ETH] wallet according to a filing with the U.S. Office of Government Ethics. Later on, it was revealed that he had $2.79 million stored in a crypto wallet as per documents received by Citizens for Responsibility and Ethics in Washington (CREW). The news sparked a surge in social activity surrounding the token, but did not lead to any price correction.
Ripple’s Legal Battle with SEC
After Ripple [XRP] won its partial legal victory against the US Securities and Exchange Commission (SEC) on 13 July 2021, ETH shot up to a three-month high; surpassing the $2,000 mark the following day before falling back down again soon after. The U.S District Court ruled that XRP tokens sold via exchanges and programmatic sales do not constitute investment contracts; therefore are not considered securities under this case’s context. However, they also determined that institutional sales of XRP tokens violated federal securities laws .
Ethereum Market Cap
Currently ranked second largest cryptocurrency by market cap at approximately $200 billion USD , Etheruem is known as the bedrock behind many successful blockchain projects out there today .
Crypto Investors Experienced Heartbreak in 2022
At the start of 2021 , investors saw some respite compared to their experiences over 2020-2022 , but it still doesn’t stack up well compared against AI hype during this same period . One reason could be attributed to natural language processing tools like ChatGPT catering conversations more towards human-like conversation .
Trump’s revelation regarding his holdings of Ethereum sparked much discussion among industry participants ; however , it failed to result in any significant price movements for ETH . Despite Ripple’s legal win over SEC resulting initially in increased prices , these were short-lived as prices dropped back down soon afterwards . Despite this , Ethereum remains one of most widely used cryptocurrencies thanks largely due to its use as bedrock for many blockchain projects running successfully today .