• Investors cheered the outcome of the Ripple lawsuit expecting ADA, SOL, MATIC, and XLM won’t be classified as securities by the SEC.
• The development brings confidence among crypto market players to use the Stellar and Solana technology to power their applications.

The outcome of the Ripple vs SEC lawsuit is having a market-wide impact with the entire altcoin space buzzing with strong activity. Apart from Ripple’s XRP gaining more than 70% and becoming the fourth-largest crypto asset, there are four other cryptocurrencies registering massive gains.

Polygon (MATIC), Solana (SOL), Cardano (ADA) and Stellar XLM, each of them have gained anywhere between 25-50% in hours following the Ripple lawsuit outcome. In their recent lawsuit against Coinbase, the SEC categorized ADA, SOL, MATIC, and XLM as securities. However, with the positive outcome of the Ripple case, investors are hopeful that these altcoins may no longer be considered securities in the future.

This is typically the reason that investors of these cryptocurrencies are hopeful leading to a strong surge in trading volumes for ADA, SOL, MATIC, and XLM. Gemini exchange co-founder Cameron Winklevoss called it a ‘watershed moment’ in the history of the crypto market. He added that along with XRP, other cryptocurrencies won’t as well classify as securities. Cameron said:

The sale of XRP on exchanges is NOT a security. Which means the sales of all cryptos on exchanges are NOT securities and @SECGov and @GaryGensler have NO jurisdiction over them. This is a watershed moment that relegates the SEC to TradFi and makes it a dinosaur regulator.

What’s Ahead for Stellar XLM and Solana SOL?

With the recent rally, the Stellar Lumens (XLM) price has surged to the highest level since April 2022. As of press time, XLM is trading 56% up at a price of $0.15 with a market cap above $4.0 billion.

Also, the development is big news for the Stellar ecosystem since it has been the technology provider to Circle, the company behind the world’s second-largest stablecoin USD coin (USDC).

Stellar lumens investors were paying close attention to the SEC vs Ripple case. If the SEC had won, it would have been negative news for Stellar and its ecosystem. It’s likely that the SEC would have filed a separate lawsuit against the company and its creators because they are significant players in the crypto industry.

However, since the SEC lost the case, it means that more companies in the financial services industry can now consider using Stellar’s technology for making payments. One well-known company that already uses Stellar is MoneyGram, a global payments provider. There are also other companies like Circle, Coinme, Abra, Anchorage, and Binance that are using Stellar’s technology.

Similarly, it means a positive development for Solana as investors could confidently bet on the developments in the ecosystem. Solana (SOL) has experienced a significant price increase, rising by over 50% in the past week. Several well-known crypto analysts like Raoul Pal have predicted a price surge of up to 20 times for Solana.

At press time. Solana (SOL) is trading 30% up at a price of $28.11 with a market cap of $11.4 billion.