- November 18, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post 5 Altcoins Poised for Growth Under Pro-Crypto Trump Administration appeared first on Coinpedia Fintech News
In a recent video analysis from Altcoin Daily, the analysts highlighted five altcoins with notable potential under a pro-crypto Trump-led administration while providing insights into recent developments shaping the crypto space.
The analyst noted that the Fit21 crypto bill, categorizes digital assets as commodities if their blockchains are sufficiently decentralized. Having said that a Republican-controlled Senate could improve its chances of becoming law. Decentralization is defined as no single entity owning over 20% of a network, creating a clear distinction between commodities (regulated by the CFTC) and securities (under the SEC).
The bullish wave led by political change is creating room for coins other than ETH and BTC.
Here Are the Top Picks of the Week!
Chainlink (LINK)
Chainlink stands out with its Chainlink Runtime Environment Framework, aiming to seamlessly connect traditional financial systems with blockchain protocols. By supporting familiar programming languages, the framework simplifies creating advanced smart contracts and fosters interoperability. This innovation places Chainlink as a key player in integrating legacy institutions into blockchain ecosystems.
Chainlink (LINK) is currently trading at $14.23, experiencing a 4.67% intraday pullback, ending a 7-day bullish streak with a 45% rise. The pullback could test the 200-day SMA, with potential support around $12.89. Despite the temporary dip, the bullish trend remains strong, indicated by a positive crossover between the 100-day and 50-day SMAs. After the pullback, LINK is expected to break past the $16.75 resistance, potentially reaching $21.69 by the end of the month.
XRP
XRP, once the second-largest digital asset, has been weighed down by the SEC’s lawsuit. However, Ripple CEO Brad Garlinghouse remains optimistic. Recent rumors of a meeting with President-elect Trump have fueled speculation, and XRP surged 10% after the election. While Ripple’s 40% escrow holdings remain a concern under Fit21, the possibility of burning tokens could resolve this. An XRP ETF could further catalyze growth.
Cardano (ADA)
Cardano is investing heavily in integrating Bitcoin DeFi into its ecosystem. Charles Hoskinson, Cardano’s founder, plans to make Cardano the dominant platform for Bitcoin-based decentralized finance. These efforts could drive adoption and expand its ecosystem, especially with growing competition.
AIT Protocol
AIT Protocol, a newer entrant, is pioneering a decentralized marketplace for AI model training. Built on BitTensor, its subnets specialize in logic and math problem-solving. While its execution remains a gamble, its innovative approach to AI and blockchain integration could either make or break its success this cycle.
Solana (SOL)
Solana’s decentralized exchange volume has exceeded Ethereum’s and all its L2s combined, marking a milestone in adoption. This highlights its growing dominance in DeFi and positions Solana as a blockchain to watch closely.
This mix of established projects and newer ventures illustrates the diversity and innovation in the crypto space, signaling significant opportunities in a pro-crypto regulatory environment.
