• Bitcoin social interest is going low as Ethereum’s and other altcoins rise 
• Bitcoin and Ethereum have not been swayed much by the industry turmoil 

Santiment, a popular on-chain data vendor, has tweeted that three leading altcoins; XRP, Ethereum, and Binance Coins, are rising in social sentiment.

🗣️ With #Bitcoin‘s social volume finally declining ever so slightly after its March ascension, #Ethereum, #XRPNetwork, and #BinanceCoin are now getting increased discussion. #Altcoins continue recovering by varying degrees based on crowd confidence. https://t.co/JFGG5s76at pic.twitter.com/Vxwur2Qsds

— Santiment (@santimentfeed) June 14, 2023

The self-proclaimed market intelligence platform has said that the decline in Bitcoin’s social interest is the major propeller of the altcoins’ growth. According to the Santiment charts, Ethereum is leading in social interest besides ETH, DOGE, ADA, XRP, and BNB, which are attracting the crypto community’s interest and are being actively discussed.  

Bitcoin Remains Steadfast Despite the Current Industry Turmoil

Binance Coin has gone down this week alongside other altcoins after SEC Chair Gary Gensler announced that his crypto crackdown is ongoing. The SEC recently files a lawsuit against Coinbase and Binance for selling unregistered securities, among other allegations. 

The SEC accused Coinbase of operating as an unregistered broker and exchange. It said that at least 13 digital assets listed on the platform were considered “crypto asset securities.” the main digital assets in the list include Solana’s SOL token, Polygon’s MATIC coin, Protocol Labs’ Filecoin token (FIL), and Cardano’s ADA token.

Robinhood, the US-based trading app, announced that it would not support trading coins from Solana, Cardano, and Polygon starting June 27, 2023. The company, however, stated that no other coin would be affected and that the traders’ coins are still safe on Robinhood. On the same Friday, crypto.com announced that it would close its US-based institutional exchange. 

According to CoinMarketCap data, Bitcoin and Ethereum, the two leading crypto coins, declined by less than 5% as Cardano declined by 20%, Solana by 18%, Polygon by 18%, Filecoin by 19%, and Binance’s BNB token fell by 16%.

President Joe Biden appointed Gensler to head the SEC in 2021 and has been on a crackdown, going after crypto exchanges and firms for trading speculative and risky securities masquerading as different assets. 

The SEC secretary has prioritized the crypto industry, and high-profile frauds have been uncovered during his reign, including Do Kwon’s Terraform Labs and Sam Bankman-Fried’s FTX.

Gensler said his role is to protect all industry investors by ensuring companies comply with US security laws.  

BTC Markets Adds XRP to its Trading Pairs

This report comes just in time when BTC Markets, the leading crypto trading platform in Australia, has announced that it is expanding its crypto assets to include XRP. 

The XRP/USDT pair is set to go live on BTC Markets on Thursday, June 15.

🔈The XRP / USDT trading pair is now fully live and available to trade on BTC Markets.

Place your buy and sell orders today at https://t.co/oJoe7QstK9#xrp #usdt #crypto #new #trading #pair #tradingpair #buy #today pic.twitter.com/qBuDnWRXBK

— BTC Markets (@BTCMarkets) June 15, 2023

The listing of XRP is rare since the SEC filed a suit against Ripple in 2020, and the case has not been closed. However, the SEC recently published Hinman Documents stating that XRP  should not be classified as an investment contract. 

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