DeFI News by Thebittimes.Com

SOL, AVAX and DYDX rank among the top-performing altcoins this month. Cointelegraph investigates what is behind the move. On Nov. 15, several altcoins continued to show strength alongside Bitcoin (BTC), which notched an intra-day high at $37,400. Leading into the week, DYDX, Solana’s SOL (SOL) and Avalanche’s AVAX (AVAX) currently reflect double-digit gains , with each chasing after new year-to-date highs.  The sustained bullish price action from altcoins has led some analysts to declare the arrival of an altcoin season, and at the time of writing, the total market capitalization of the altcoin market has hit a 2023 high at $659.5 billion. Altcoin price rallies typically involve a slew of factors, some being sentiment-based and others based on project fundamentals. Let’s look at a few of this week’s top market performers to see what catalysts underlie their growth. dYdX fee switch boosts price The platform behind the DYDX token is dYdX, a decentralized exchange that offers futures co...

XRP surged more than 8% after the Securities and Exchange Commission (SEC) dropped charges a gains t two top Ripple executives in what they called a ”stunning capitulation” by the regulator. The SEC said on Oct. 19 that it is dismissing its lawsuit a gains t Ripple CEO Brad Garlinghouse and co-founder Chris Larsen over their alleged involvement in the illegal sale of securities. Ripple called the SEC’s decision a ”landmark surrender” and said it is a third consecutive victory over the regulator after a July ruling that declared its XRP token is not a security when sold to the public and an October decision to deny the SEC’s request to appeal that ruling. “For nearly three years, Chris and I have been the subject of baseless allegations from a rogue regulator with a political agenda,” Garlinghouse said. “Instead of looking for the criminals stealing customer funds on offshore exchanges that were courting political favour, the SEC ...