U.S. Coin Production During Trump's Initial 100 Days of Presidency
Crypto Charade Under Trump's WATCH: USA-linked coins plummet, as global players thrive
The first 100 days of Trump's new reign have been a bumpy ride for America's favorite cryptocurrencies. While the administration's cozier stance towards crypto and a recent wave of regulatory relief were expected to ignite a fire under these coins, the reality has been far from rosy. Alas, here's a rundown of the dazzling disaster that devasted our domestic creations.
A Clown Show in Daddy-o's Circus Tent:USA's leading coins, like Solana, ADA, LINK, XRP, and SUI, have lost their shine, plunging by at least 20% since January 20. Despite brief and meager attempts to recover, these U.S.-linked assets are still salvaging their sunken ships in the sea of losses.
Solana, the pathetic performer, has suffered the most, plummeting over 41% since the smarmy reality-TV-star-turned-president took the reins. SUI, on the other hand, has shown some saucy resilience, climbing a whopping 58%, empowered by the surge in meme coin trading and decentralized exchange volume. However, this triumph is a rare exception in the otherwise gloomy picture.
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Why the Whole Thing Turned into a Hot Mess:Despite the SEC, now led by Paul Atkins, dropping cases against crypto firms, easing regulatory pressure, other policy developments could be casting a long and ominous shadow over the American crypto scene.
In particular, Trump's belligerent approach to trade, as seen in his tariff strategy, could stir up a tempest that threatens to capsize U.S.-linked crypto assets. It's like dancing on the edge of a precipice, teetering between domestic crypto reforms and broader policy pressures.
The Foreign Players Steal the Show:Non-USA coins like Bitcoin and TRON have proven to be more Durable Dan, exhibiting resilience amidst the carnage unfolding in the USA. While Ethereum and Dogecoin have posted massive losses, these two heavyweights have held their ground, standing tall amidst the rubble.
In fact, Bitcoin has regained lost ground, rising nearly 16% over the past 30 days. TRX is the only top coin outside the USA gang to post significant gains, prospering by 7.5% in the last 100 days.
So, while the American crypto scene finds itself floundering, global assets seem to be weathering the storm with ease. It's like watching the USA's Sad Sack tumbling down, while Superman and Spiderman laugh and play in the breeze.
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- Despite a cozier stance towards crypto and regulatory relief, US-linked coins, such as Solana, ADA, LINK, XRP, and SUI, have underperformed, plunging by at least 20% since Trump took office, with Solana being the hardest hit.
- Trump's tariff strategy and other policy developments could be casting a long shadow over the American crypto scene, making it similar to dancing on a precipice between domestic crypto reforms and broader policy pressures.
- In contrast, non-USA coins like Bitcoin and TRON have shown resilience amidst the carnage in the American crypto market.
- Bitcoin has regained lost ground, rising nearly 16% over the past 30 days, while TRX is the only top coin outside the USA gang to post significant gains, prospering by 7.5% in the last 100 days.
- Ethereum and Dogecoin, among other US-linked coins, have posted massive losses, but Bitcoin and TRON have held their ground, standing tall amidst the rubble.
- Investors may consider diversifying their crypto portfolio by including altcoins, such as TRON, to balance the underperformance of US-linked coins.
- The blockchain technology, which underlies cryptocurrencies, continues to be a driving force for innovations in finance and technology but requires careful investing and attention to developments in regulation.
- Now that Paul Atkins is leading the SEC, other regulatory bodies could follow suit in easing pressure on crypto firms, leading to future opportunities for trading various coins, including altcoins and Ethereum.
- It is essential to remember that all cryptocurrencies, including Bitcoin, Ethereum, and TRON, are high-risk investments, and one should always do their research, consult a professional, and heed warnings before taking any financial plunge.
