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Donald Trump To Make US “Crypto Capital” With Pro-Crypto Candidates

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2 days ago

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President-elect Donald Trump is preparing to shift the U.S. government toward a more crypto-friendly stance, aiming to fulfill his campaign promise to make the U.S. the “crypto capital of the planet.” To support this objective, Trump is reportedly considering industry-friendly candidates for key financial regulatory positions, focusing on individuals with pro-crypto views. This strategy comes as Trump’s advisers hold discussions with crypto industry leaders on potential federal policy changes.

Donald Trump Eyes Pro-Crypto Candidates to Make US ‘Crypto Capital’

According to recent reports, Donald Trump intends to appoint pro-crypto figures to lead major financial regulatory bodies in his second term. This move aligns with his goal to transform the U.S. into the leading global hub for cryptocurrency innovation and adoption. Trump’s advisors have been in discussions with various crypto industry leaders and executives to identify suitable candidates for roles in agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Among those under consideration are Hester Peirce and Daniel Gallagher, both known for their favorable stance on digital assets. Peirce, often referred to as “Crypto Mom” for her support of a more open regulatory environment, has expressed criticism of the SEC’s current approach to digital assets. Gallagher, currently an executive at Robinhood, has also faulted the agency’s aggressive stance on crypto regulation.

More so, recent CoinGape report revealed that Gary Gensler is expected to step down by the end of the year. Sources suggest that the Trump administration is considering Dan Gallagher as his replacement to bring a more crypto-friendly approach to the SEC.

Similarly, industry experts and executives have voiced optimism for Trump’s proposed regulatory changes. For instance, Cardano founder Charles Hoskinson expressed a desire to collaborate with the U.S. government to develop clear and consistent regulations for the industry. Hoskinson’s involvement aims to offer the crypto sector a more structured framework to operate within.

Many in the industry see this approach as a step toward more concrete guidelines that will aid crypto business operations.

Pro-Crypto Stance Boosts Market, Rallies BTC To New ATH

Concurrently, Donald Trump’s unqualified support for cryptocurrency has sent a ripple through the markets, contributing to BTC price rally to an all-time high of over $89,000. Crypto investors are hopeful that Trump’s administration will enact policies favorable to the industry. 

The incoming administration’s interest in pro-crypto policies has generated positive sentiment among major stakeholders. A clear and supportive regulatory framework will possibly drive further market rally.

However, some economic commentators remain critical. Economist and crypto critic Peter Schiff voiced concerns over Trump’s proposed national Bitcoin reserve, cautioning that it could harm the dollar’s stability. Schiff argues that if the government were to invest heavily in Bitcoin, the dollar might face devaluation. Nonetheless, Donald Trump’s team and industry advocates remain focused on making the U.S. a “crypto capital.”

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Dogecoin Co-Founder Reveals How To Make DOGE Deflationary

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4 hours ago

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November 13, 2024

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Dogecoin co-founder Billy Markus has revealed how to make DOGE deflationary. The foremost meme coin’s total supply is unlimited, as it has a fixed yearly issuance of 5 billion coins, which could ultimately impact its value over time.

Dogecoin Founder Reveals How To Make DOGE Deflationary

In an X post, Billy Markus shared the GitHub code to remove Dogecoin’s inflation. He mentioned that anyone who was looking to make DOGE deflationary could simply make a pull request and convince the community and miners to use the new version.

The top meme coin currently has a total supply of 146.78 billion DOGE. That figure is bound to grow over time since 5 billion coins come into circulation yearly through mining rewards. However, this inflation rate decreases yearly compared to the coin’s total supply.

Billy Markus’ revelation came following criticisms about Dogecoin’s ‘infinite’ supply. Interestingly, he likened DOGE to Bitcoin while defending the former’s inflationary status. Markus claimed that DOGE and BTC are the “same with very minor parameter changes.”

He made this statement because Bitcoin’s total supply can increase from 21 million if the community and miners agree. Meanwhile, Markus also noted that based on its 21 million supply, BTC will continue to witness a supply shock until 2140.

Meanwhile, in another X post, The DOGE co-founder again highlighted the community’s power in determining the meme coin’s inflationary status. He remarked that the community is literally in control and has always been since Dogecoin is an open-source proof-of-work (PoW) cryptocurrency, and miners agreed to the code.

Elon Musk Says Inflationary Status Is A Feature Not A Bug

Following Billy Markus’ revelation on how to make DOGE deflationary, Elon Musk responded that he thinks Dogecoin’s flat inflation is a feature, not a bug. Flat inflation refers to how the meme coin’s inflation percentage decreases over time.

Markus agreed that Dogecoin’s inflationary status is ideal since it is intended to be used as a currency. He added that this meme coin’s inflation status is steady and predictable, with a percentage that goes down over time. He suggested that this makes DOGE better than the Dollar as a currency since its inflation rate is much lower.

 

Musk’s statement comes after Donald Trump appointed him to lead the Department of Government Efficiency (D.O.G.E). It is worth mentioning that the world’s richest man coined the department’s name. The similarity between D.O.G.E and DOGE is believed to be deliberate since Musk is known for indirectly shilling the foremost meme coin.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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When and Where to Watch the XRP Documentary Live

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11 hours ago

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November 13, 2024

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The XRP documentary film, “XRP Unleashed”, finally debuts in America, sparking substantial intrigue across the broader crypto landscape. Marking its screening premiere in Scottsdale, Arizona, the documentary has finally been released as a reminder of the ongoing legal tussle between Ripple and the U.S. SEC. Here’s a brief report on ‘when and where’ to watch the documentary, aka “Rigged from the Start.”

XRP Documentary Debuts In U.S.; Major Platforms To Follow?

As per a November 12 X post from the Los Angeles-based production house behind the documentary, Fruition Productions, “the first premiere screening of Rigged from the start / XRP Unleashed took place at 7 and 7:30 U.S. time-zone in Scottsdale Arizona. Further, the production house clarified that all seats had been sold and no tickets were available on-site.

For those wondering, the documentary tickets went out on sale the previous month, with a majority of the premiere tickets promptly sold out across various states. Further, the documentary is also set to premiere in New York, Boston, and DC, apart from Arizona and other states. The production house also revealed that it has been cooking something for the state of Florida, sparking additional market discussions amid the documentary’s debut. Moreover, the production house’s first tour encompassed the screening “Rigged from the Start” documentary in seven cities, whereas the second tour remains poised for December, and market participants await further details.

Online streaming and worldwide launch for the same is on November 21 via the Fruition Productions official website. Meanwhile, a previous CoinGape Media also revealed that the XRP documentary eyes release on major platforms like Apple TV and Amazon ahead.

Overall, this endeavor has garnered significant attention to the Ripple-backed token amid a bullish crypto market.

XRP Price Touches $0.7

At press time, XRP price rested at $0.6633, facing some market turbulence intraday. Nevertheless, it’s noteworthy that the coin’s intraday low and high were $0.6101 and $0.7354, respectively. The weekly chart for the crypto shows 24% gains. This gaining action aligns with the broader market trend post-U.S. elections in November. Besides, it’s also noteworthy that 21Shares filed for an XRP ETF earlier in the same month, adding to optimism about the asset.

Simultaneously, the latest XRP documentary premiere has further added to the market buzz surrounding the Ripple-backed crypto amid the abovementioned market developments. Also, with speculations of XRP lawsuit dismissal on the rise with Trump’s recent win in the elections, the market currently reflects optimism for the leading cryptocurrency. Overall, the latest documentary release marks a landmark for the digital asset industry, reflecting the community’s heightened issues surrounding regulatory scrutiny in the sector.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin Price Tops $90K As Analysts Predict Cycle Peak In 200 Days

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17 hours ago

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November 13, 2024

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Bitcoin price recently achieved a new milestone, briefly trading above $90,000 following a period of sustained growth. This rally, attributed partly to renewed optimism within the crypto community, has marked a record-breaking period for the cryptocurrency. Analysts at Copper.co suggest that this upward trajectory could continue for the next several months, pointing to historical cycles that may see Bitcoin peaking within roughly 200 days.

Bitcoin Price Hits New High Above $90K: Analysts Eyeing Peak in 200 Days

Bitcoin price surged past the $90,000 mark, riding a wave of optimism in the crypto market following recent U.S. election results. Trading volumes have soared, contributing to this new all-time high, as investors anticipate pro-crypto regulatory shifts in the coming months. Analysts at Copper.co project that BTC market cycle is far from complete and expect the current rally could lead to a peak within 200 days, or around mid-2025.

Copper.co BTCCopper.co BTC
Source: Copper.co

The recent surge aligns with historical trends, where Bitcoin market cycles, averaging approximately 756 days, culminate in peak valuations before entering a correction phase. According to Copper.co’s Head of Research, Fadi Aboualfa, Bitcoin has entered day 554 of this cycle, potentially signaling a sustained upward trajectory into 2025. 

Based on the analysis, the outlook of past market cycles suggests that Bitcoin price could continue to climb. This opinion is shared among many enthusiasts in the crypto market. Most recently, Andrew Tate shared insights that BTC bull run is yet to begin. 

Potential Recession Timing Adds Uncertainty

Copper.co’s report also considers the potential for a U.S. economic recession in mid-2025, which may coincide with Bitcoin’s anticipated cycle peak. A JPMorgan analysis places a 45% probability on a recession occurring in the latter half of next year. This potential downturn could impact demand and price stability for digital assets. 

However, Bitcoin’s resilience during past recessions provides some optimism, as investors view the crypto as a hedge against traditional market volatility.

While a recession could shift sentiment, some analysts argue that Bitcoin may benefit from economic uncertainty. Analysts note that in previous economic downturns, the asset has experienced an influx of institutional interest, positioning it as a store of value.

In this recent cycle and crypto market rally, BTC utility has attracted many institutions and countries. According to a recent report, Bhutan’s government Bitcoin holdings have reached $1 billion. This cycle, therefore, could see similar investment flows, given the strong infrastructure around Bitcoin price and crypto investment.

Realized and Implied Volatility Suggest Continued Turbulence

As Bitcoin’s valuation reaches historic highs, its market volatility remains notable. The report highlights that Bitcoin’s realized volatility currently sits at 50%, suggesting substantial fluctuations in price movement. Such levels of volatility indicate that Bitcoin’s trajectory may remain turbulent, even amid positive growth prospects. The crypto market could experience swings as investors react to volatile market conditions.

Adding to the volatility, technical indicators suggest that Bitcoin price may have more room to grow. Copper.co points to Bitcoin’s Relative Strength Index (RSI), currently at 60, which is lower than previous bull market peaks. This indicator, when measured against past cycles, implies that Bitcoin has not yet reached an overbought status. These indicators align with the recent BTC price prediction of reaching the $100 mark.

 

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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