The Trump administration appears to be gearing up to create a more favourable environment for cryptocurrencies that could lead to significant growth for more than just Bitcoin.
Donald Trump‘s election as president of the United States is set to impact the cryptocurrency market. While Bitcoin is often considered the gold standard in the crypto world, other digital currencies, called altcoins, could benefit from more favourable policies toward cryptocurrencies. Let’s dive deeper:
Ethereum: The Second Cryptocurrency
Solana: Thousands of Transactions
Cardano: Innovative and Sustainable Technology
Binance Coin: Continuous Expansion of Services
Polkadot: Blockchain Interoperability
Ripple: Fast and Cheap Transactions
Ethereum: The Second Cryptocurrency
Ethereum, the second-largest cryptocurrency by market cap , is a key player in the crypto world thanks to its smart contract platform and decentralised applications. The transition to the Ethereum 2.0 blockchain has improved scalability and reduced energy consumption. With a Trump administration Ethereum could see greater institutional adoption and value growth, with some experts predicting a doubling in value by 2025.
Solana: Thousands of transactions
Solana is a high-speed, low-cost blockchain that is popular for DeFi and NFT projects.Solana could multiply its value fivefold by 2025. If Trump’s policies are favourable to the technology and financial industries, Solana could receive further momentum, thanks to the attention of institutional investors towards efficient platforms like its own.
Cardano: Innovative and sustainable technology
Cardano is a blockchain platform developed with a scientific and academic approach with a focus on sustainability and security. Cardano is known for its methodical approach and layered architecture, which allows for constant updates without compromising the security of the network. With the growing interest in eco-friendly solutions, a more open policy could favour Cardano as an alternative to Ethereum and Solana.
Binance Coin: Continued Expansion of Services
Binance Coin is the token of the Binance exchange, the bigest in the world. The token is used to pay fees on the exchange and has uses in the Binance ecosystem, from payments to DeFi services. Binance has proven to be a key player in the cryptocurrency space, and the Trump administration’s support for cryptocurrencies could strengthen its position. The continued expansion of Binance’s services makes BNB an attractive asset for the long term.
Polkadot: Blockchain Interoperability
Polkadot is a project that aims to connect different blockchains and allow them to communicate and transfer data between them. If Trump were to implement deregulation policies to encourage technological innovation, Polkadot could benefit from a key role, becoming a sort of Internet of blockchains. With growing interest in projects the value of Polkadot could see a significant increase.
Ripple: Fast and cheap transactions
Ripple is one of the most widely used cryptocurrencies for cross-border transactions due to its speed and low costs. Despite legal disputes in the United States, more favourable regulation under the Trump administration could boost Ripple adoption among financial institutions. If the legal issues are resolved favourably, Ripple could see an increase in value , especially in a global context increasingly oriented towards the adoption of cryptocurrencies in payments.