Ether is trading hands above $2,000, a three-month high, as the market picked up renewed optimism after a U.S. court found that sales of Ripple’s XRP tokens on exchanges and through algorithms did not constitute investment contracts.
The token for the world’s computer is up 7.4% and is trading at $2,010 during the Asia morning. Various Layer 1 tokens, such as Solana’s SOL, which has been accused by the SEC of being a security, have also seen their tokens gain double digits since the ruling was published.
Stellar’s XLM is up 52% in the last 24 hours, while SOL is up 33.8%, MATIC is up 19.5%, and Cardano’s ADA is up 25%.
Lido DAO’s governance token is also up 25% in the last 24 hours.
The CoinDesk Market Index (CMI) is at 1,368, up 7.2%.
Bitcoin has also passed a one-year high and is now trading at $31,424.
In the last 12 hours, traders liquidated $203 million in short positions, according to Coinglass data.