On February 1, 2021, there was a story about virtual assets, so I’d like to talk about it.
“Devilish institutions have suspended transactions in the United States. Gamestop shareholders in Canada, Europe, and Asia, please don’t sell, hold on. The U.S. stock market fluctuated greatly as Robin Hood of the U.S. (Ants in Korea, Youth Chuchu in China) took collective action as the article, “Let’s destroy the short-selling power,” was posted on Reddit early on the 29th.
Gamestop evoked memories of many individual investors. During the 2008 financial crisis, there is a high level of antipathy toward short selling forces who took their profits regardless of the pain of individual investors. Organizations that have already started short selling have fallen into a “short squeeze” situation as individual investors have bought stocks.
In other words, as the stock price continued to rise, the short-selling losses were eventually to be repaid by buying spot stocks, and the short-selling forces suffered huge losses and GameStop shares soared. At this time, the game stop’s market capitalization is about $22.6 billion.
But what’s happening in the U.S. stock market has recently been seen trying to do with virtual assets.
Opinions are gathered to show the power of individual investors around Telegram on Ripple (XRP, about $22.3 billion) with a market gun similar to GameStop’s.
Ripple was recently treated as a securities by the SEC and has been sued for violating SEC’s securities laws, and Ripple submitted a rebuttal to the SEC, which will come to a conclusion on February 22.
As a result, the price of Ripple fell by more than 50% on December 23, 2020 when short selling forces of virtual assets sold Ripple in bulk to the market, sparking anger among ants. Of course, the object of this complaint was distributed to short selling forces, Ripple Corporation, SEC, etc. In the meantime, the conflict intensified further as Japan expressed its position that Ripple was not a securities.
Ripple is a virtual asset that is supported by individual investors, such as GameStop, as it is very popular with individual investors because of its high market capitalization and low price. As a result, more than 130,000 individual investors have already gathered on Telegram to make a collective purchase at 10 p.m. on February 01, 2021 Korean time.
As a result, many virtual asset investors are already starting to buy Ripple today, and will Ripple be able to end up as an ant victory as a game stop…Attention is drawn to it. However, one thing to be aware of is. Ripple is that the company is constantly selling its virtual asset Ripple to the market, and even if the price of Ripple skyrockets, it will increase Ripple’s assets rather than win the battle against short-selling forces.
