Crypto Surge: XRP and Bitcoin Skyrocket as Gensler Exits SEC

Crypto Today: XRP, Solana, and Bitcoin Soar Amid Gensler's Departure

The cryptocurrency market has experienced a significant surge as news of Gary Gensler stepping down from the US SEC on January 20 spread. According to FXStreet, this development led to an increase in investor confidence towards altcoins like Solana (SOL), Ripple (XRP), and Binance Coin (BNB). Notably, XRP saw a remarkable rise of 12.7%, briefly surpassing $1.20 following the announcement.

Bitcoin also reached new heights with its price climbing by 5% to nearly $99,000. The rally is attributed not only to regulatory changes but also to substantial buying pressure from large investors or "whales," who have been accumulating BTC over recent weeks.

Bitcoin Nears $100K Milestone Driven by Institutional Demand

MarketPulse reports that Bitcoin’s impressive climb toward the $100,000 mark is largely driven by institutional demand and increased mainstream acceptance. With ETF inflows nearing $2 billion within just three days, speculation around favorable crypto policies under Donald Trump's administration further fuels optimism among investors.

The derivatives market plays a crucial role in driving prices higher; however, it also introduces volatility risks due to leverage-induced liquidations amounting up to $450 million recently.

Satoshi Nakamoto's Wealth Could Surpass Bill Gates'

A Forbes article highlights how Satoshi Nakamoto’s bitcoin stash could be valued at approximately $106 billion if current trends continue—potentially making him one of the world's richest individuals, ahead of even Microsoft founder Bill Gates, whose net worth stands at about $104.9 billion today. Various estimates are based on wallet addresses associated with Nakamoto's identity since the network's inception during early mining operations in 2010 when he ceased activity altogether, without pre-allocating any tokens for himself initially, either directly or indirectly via exchanges such as Coinbase or Binance.

Sources: