The crypto market has seen a significant boost this week with a recent ruling stating that XRP is not a security. This is a bullish development for altcoins, including Cosmos (ATOM), which is considered a commodity rather than a security. The judge’s ruling has led to a rally in altcoins, such as Compound and Synthetics, as well as XRP and Stellar. Solana and Injective have also experienced price increases, while ATOM has remained relatively stable. Overall, this ruling is seen as a positive development for the market, indicating a potential end to the bear market. Additionally, there have been updates regarding partnerships and developments within the Cosmos ecosystem, including a revamp of the partnership between Cryptocito and FMOS Ethereum on Cosmos. The ticket sale for the Consumer event has also begun, with early bird tickets selling out quickly. The launch of the Stride blockchain, which will be the second consumer chain on the Cosmos Hub, is also approaching. Atom stakers will have the opportunity to earn various tokens from these consumer chains. The Cosmos Hub has also seen developments in the financial sector, with Umi exploring migration to a consumer chain and the release of Babylon’s Bitcoin staking light paper. Levana Protocol has launched on the Osmosis mainnet, bringing perpetual swaps to the platform. Lastly, the lawsuit against Velocity has been dropped, and updates on national currencies losing value against Bitcoin will be covered in upcoming videos.
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