Cryptocurrency advocate John Deaton has formally announced his candidacy for the Senate in Massachusetts, setting his sights on unseating the current Democratic Senator Elizabeth Warren from her position. “I’m excited for the opportunity to fight for change, and for the people of Massachusetts in the United States Senate,” Deaton wrote on Tuesday. Deaton vs. Warren: […]
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Pro-XRP Lawyer Deaton Picks His Top 10 Cryptos For The Year Ahead
In a recent post on X (formerly Twitter), noted XRP advocate and lawyer John Deaton shared his top 10 cryptocurrency picks for the next 12 months. His selection includes a mix of well-established and emerging digital currencies.
He stated, “If you had to pick only 10 tokens to own for the next 12 months (as a trade) what are they? Here’s mine: BTC, XRP, ETH, QNT, RNDR, SOL, KAS, AVAX, HBAR, CSPR. What am I missing?”
Analysis Of The Pro-XRP Lawyer’s Picks
Bitcoin (BTC): Deaton likely selected Bitcoin due to the potential imminent approval of a spot Bitcoin ETF in the United States. Bloomberg Intelligence analysts anticipate that the US Securities and Exchange Commission (SEC) might approve multiple spot Bitcoin ETF by January 10, 2024, a move that could significantly impact Bitcoin’s value
XRP: Deaton’s choice of XRP is consistent with his role as a strong supporter and legal advocate for the XRP community. XRP’s status as a regulatory-defined token in the United States with high utility adds to its appeal. Currently, XRP is consolidating after being rejected at the 0.618 Fibonacci retracement level at .7492.
Ethereum (ETH): Despite the harsh criticism of Ethereum’s founder, Deaton has included ETH in his list. This might be due to its position as the second-largest cryptocurrency by market cap. Also, BlackRock and several other financial giants have recently applied for a Spot Ethereum ETF, adding to the potential bullish trajectory of ETH in the next 12 months.
Quant (QNT): The QNT token of Quant Network has found itself in a downtrend channel since late January this year, down approximately 35% from its year-to-date high. With the current price of .74, QNT is 78% below its all-time high of 8.38 on November 21, 2023. Nevertheless, Quant can boast partnerships with major financial institutions, including the Bank for International Settlements (BIS), Bank of England, Bank of Canada, MasterCard, Amazon, and Barclays, to develop and test use cases for central bank digital currencies (CBDCs).
Render Network (RNDR): The RDNR token is currently up 725% since the beginning of the year. Render Network provides a decentralized GPU rendering platform, allowing artists to scale GPU rendering work on-demand to high-performance GPU nodes. Notably, the RDNR price has also profited from the AI narrative.
Solana: SOL has been one of the other big winners this year, up nearly 600% at the current price since it went below at the end of last year. Solana is currently seen as the potential biggest challenger to Ethereum as a layer-1 blockchain, which is why Deaton may have ranked SOL on his list.
Kaspa (KAS): Kaspa has gained attention due to its positioning as a highly scalable Layer-1 blockchain, with a focus on fast confirmations and high throughput. Its underlying technology, GhostDAG/PHANTOM protocol, aims to balance security, scalability, and decentralization. The KAS token’s impressive performance, with an over 2,600 % increase year-to-date, makes it a notable inclusion.
Avalanche (AVAX): Avalanche’s AVAX token might be included due to its recent gains of almost 130% since mid-October. Deaton may have chosen AVAX because of Avalanche’s involvement in the Monetary Authority of Singapore’s tokenization initiative, Project Guardian, as well as its partnership with Amazon Web Services and Deloitte, all of which are potential catalysts for price appreciation.
Hedera (HBAR): Hedera Hashgraph has gained prominence by becoming part of FedNow, the US Federal Reserve’s instant payments platform. This development led to a significant surge in the price of Hedera’s HBAR token.
Casper (CSPR): Casper’s inclusion may be due to its position as one of the fastest-growing blockchain projects, with a focus on solving the blockchain trilemma of scalability, security, and decentralization.
Remarkably, Deaton’s selections reflect a balance between established market leaders like Bitcoin and Ethereum, and emerging, high-potential projects like Kaspa and Casper. This blend indicates a strategic approach to cryptocurrency investment, recognizing both stability and innovation within the digital asset space.
Pro-XRP Lawyer John Deaton Reveals The Countries Topping The 75,000 Holder List
Over the course of Ripple’s legal battle with the United States Securities and Exchange Commission (SEC), John Deaton has grown to become one of the most prominent voices in support of the crypto firm. The result of this was a list containing 75,000 potential intervenors, all of which hold XRP.
Up until now, the regional composition of this 75,000-holder list has been unknown. But Deaton has finally revealed which countries are leading the pack as ‘potential intervenors.’
The United States Leads The 75,000 XRP Holder List
In a tweet shared on the X (formerly Twitter) platform, Deaton revealed to his more than 292,000 followers that the United States made up the majority of the 75,000 XRP holder list. The tweet highlighted that US holders currently make up 53% of the list, making it the leading region.
Going forward, the pro-XRP lawyer points to the United Kingdom as having the second-largest holder base on the list. This is then followed by Australia, which the lawyer excitedly reveals has moved up to the third position as of the last time he checked the holder list. However, Deaton explained that Australia’s lead over Canada in the fourth place only comes down to a difference of around 11 holders.
The lawyer’s tweet comes in response to an announcement from the Wave of Innovation official X handle that Deaton would be the keynote speaker of an upcoming event. The event totaled “XRP Gold Coast” would run from March 22-24 in 2024, and Deaton was picked as the keynote speaker due to his “significant contributions to the XRP community through his legal work and advocacy efforts.”
Deaton went on to highlight his pleasure of being the keynote speaker at this event by pointing out Australia’s growing dominance on the 75,000 XRP holder list. “I could not say no, nor pass on the opportunity to meet many of them,” he tweeted.
I checked the 75K #XRP Holder list. Australia
has moved to the #3 spot. About 53% of the 75K #XRP Holders are from the United States
The United Kingdomcomes in at #2. After that, Australia
has a very small lead (ie like 11 people) over Canada
, as the 3rd most… https://t.co/HYfaNOioju
— John E Deaton (@JohnEDeaton1) September 10, 2023
Representing The Interest Of Investors
John Deaton’s rise to fame, especially among crypto investors, first came when the lawyer began advocating for XRP holders. While Ripple Labs battled the SEC in the courtrooms, Deaton was the attorney of choice for XRP investors who wanted to make their voices heard in the case.
Support for Ripple had grown rapidly as many referred to the regulator’s actions as an overreach. Meanwhile, the number of XRP investors throwing their hats in the ring grew to over 75,000 on Deaton’s list.
According to the attorney, being on this ’75K List’ meant that XRP investors could potentially be able to seek reimbursement if the price of XRP were to suffer as a result of the regulator’s actions.
The legal battle that began in 2020 is currently still ongoing with the SEC filing an interlocutory appeal in response to Judge Analisa Torres’s ruling back in July. So whether or not there will be any reimbursement for XRP holders impacted by the regulator’s actions remains to be seen.
Pro-XRP Lawyer John Deaton Says He Is Willing To Bet That Ripple Will Win SEC Appeal
Popular XRP advocate and notable attorney John Deaton recently predicted a comfortable appeal victory by Ripple against the United States Securities and Exchange Commission (SEC). The Managing Partner of ‘The Deaton Law Firm’ says he is willing to bet big on the exchange emerging victorious on appeal.
Founded Belief Or Mere Speculation?
John Deaton’s willingness to bet on an uncertain court judgment follows a recent thread penned by digital asset enthusiast and Australian-based lawyer Bill Morgan. According to the thread, Judge Analisa Torres did not err in her summary judgment decision.
Morgan was of the opinion that the Securities and Exchange Commission (SEC) classified sales of XRP by Ripple into three unique classes; institutional sales, programmatic sales, and other XRP distributions. Following the classification, Judge Torres evaluated each class by applying the popular Howey test.
After evaluation, the Judge discovered major differences in each class. For instance, the Judge discovered that every institutional investor signed agreements with Ripple and expected to earn profits from the firm’s activities.
While institutional investors entered contracts with Ripple, programmatic sales on exchanges did not require the signing of contracts, and purchasers, therefore, did not expect to make profits directly from Ripple’s efforts.
Therefore, according to Morgan, Judge Torres ruled that the sale of XRP to institutional investors amounted to a sale of securities, while that of programmatic sales on virtual exchanges was not.
Deaton Ready To Go All In For Ripple
Reacting to the thread, John Deaton commended Bill Morgan and noted that Judge Torres did not differentiate between Ripple’s XRP sales merely out of “thin air.” He stated that the Judge considered each sale the SEC alleges as securities “and applied the Howey test.” Therefore, given his confidence in the decision, he was willing to wager “significant funds that she doesn’t get reversed on appeal.”
While Deaton may have cause to believe in a favorable appeal outcome, recent developments may instigate some doubts in his prediction. Recently, US District Judge Jed Rakoff, who oversees the SEC’s lawsuit against Terraform Labs, rejected the approach used in Judge Torres’s ruling. This creates a certain unpredictability in the outcome of the upcoming SEC appeal.
In the interim, SEC’s Chair, Gary Gensler, has suggested that an appeal against the decision in the Ripple lawsuit is under strong consideration. While Gensler’s comment does not expressly guarantee an appeal, however; it indicates that the US SEC has not conceded a partial defeat in the suit.