Trump’s VP Pick Bodes Well for CryptoTrump’s VP Pick Bodes Well for Crypto Former President Donald Trump’s recent selection of Senator J.D. Vance as his vice presidential running mate has generated positive sentiment in the cryptocurrency market. Vance’s Pro-Crypto Stance Vance is an outspoken supporter of the crypto industry. He reportedly holds Bitcoin worth between $100,000 and $250,000 and has criticized SEC Chairman Gary Gensler’s approach to crypto regulation. Implications for the Crypto Market Vance’s appointment suggests that a Trump-Vance administration would be more favorable towards crypto than the current administration. Experts believe this could lead to: * Reduced regulatory scrutiny under Gensler’s potential successor * Increased likelihood of approval for Solana and XRP ETFs * A bullish market for Bitcoin and major altcoins Top Cryptocurrencies to Consider In anticipation of a Trump presidency, analysts recommend investing in cryptocurrencies that could benefit from a friendlier regulatory environment: * XRP: Ripple’s ongoing SEC lawsuit could be positively impacted by a Trump victory. * Solana (SOL): The potential approval of a Solana ETF could drive its price to new highs. * Pepe-Themed Meme Coins (e.g., Pepe, PEPU): Frog-themed meme coins have gained traction and could see further appreciation. * AI Coins: AI-powered crypto projects like Worldcoin and Internet Computer could benefit from a bullish tech environment. * WienerAI: This meme coin with an AI trading bot has attracted significant interest and has potential for high returns. Conclusion The upcoming presidential election could have significant implications for the crypto market. Trump’s choice of Vance has injected positive sentiment, suggesting a more favorable regulatory environment for crypto under a potential Trump presidency. Investors are advised to consider investing in cryptocurrencies that could thrive in such a scenario.
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The upcoming US presidential election in November has major implications for crypto, especially after Republican candidate Donald Trump announced his running mate earlier this week.
Trump has chosen Senator JD Vance of Ohio as his vice presidential candidate, which is good news for the crypto market.
Vance is a big supporter of the crypto industry and owns between $100,000 and $250,000 worth of Bitcoin, according to his latest self-reporting.
JD Vance is Trump’s nominee for Vice President and likely the next Vice President.
He is a big proponent of crypto.
He voted to repeal SAB121.
He’s a holder – owned $250,000 bitcoin in 2022 – probably more now.
He has criticized Gensler in open letters.
More evidence that the Trump White House is pro-crypto. photo.twitter.com/lfbytKYII4
— RYAN SΞAN ADAMS – rsa.eth
(@RyanSAdams) July 15, 2024
Unsurprisingly, the market has reacted positively to Vance’s choice, with Bitcoin price soaring as high as $66,000. With the chances of a Trump presidency increasing by the day, experts believe this could be an excellent time for investors on the sidelines to buy crypto.
Trump Picks Vance – Why It’s Good for Crypto
Former President Donald Trump has not hesitated to voice his support for the crypto industry, often drawing comparisons to his Democratic opponent’s anti-crypto stance.
His VP pick of JD Vance cements his pro-crypto stance. Not only does Vance own Bitcoin, he also voted for SAB 121. Politico recently reported that Vance is currently working on drafting an even more crypto-friendly bill than SAB 121.
More importantly, Vance has openly criticized SEC Chairman Gary Gensler for his crypto regulations, even calling him the worst person to regulate the industry.
NEW VIDEO
Senator JD Vance of Ohio on Gensler:He is far too political in his regulation of securities.
He has the opposite in mind: he wants to ban useful tokens and seems to ignore tokens with no specific utility.
Senator Vance sees blockchain as the key to… photo.twitter.com/yKoNmk4Bm4
— Bill Hughes: wchughes.eth
(@BillHughesDC) February 27, 2024
This very likely means that Gensler could be out of a job by January 2025, if the Trump-Vance ticket secures a victory in November. This is a decidedly bullish scenario for the crypto market.
Under Gensler, the SEC has repeatedly classified every major altcoin as a security, including Ethereum and Solana. He has also filed lawsuits against top crypto exchanges like Binance and Coinbase, accusing them of illegally selling unregistered securities.
However, the Commission’s stance on crypto could become much more favorable under a new chairman, especially one chosen by Trump and Vance. Furthermore, the chances of approval of Solana and XRP ETFs would increase dramatically.
Experts are now extremely bullish on crypto. According to FiveThirtyEight, Trump currently has an average lead of 2 points over Biden. Biden, on the other hand, had a lead of almost 8 points this time in the 2020 cycle. It is safe to say that Donald Trump is now the clear favorite to win the White House in November.
As the crypto market starts to take this into account, experts believe Bitcoin and major altcoins could reach new all-time highs, especially if the Federal Reserve begins quantitative easing in September.
Best Crypto to Buy Now
The cryptocurrency market is on the verge of a breakout, presenting an ideal opportunity for investors on the sidelines to get in.
XRP is one of the large-cap altcoins that could skyrocket if Trump wins. A new SEC administration would essentially ensure that Ripple’s historic victory at the Commission will not be appealed.
It comes as no surprise that XRP’s price has risen by over 42% in the past week, following the failed assassination attempt on Donald Trump.
As mentioned earlier, a Trump victory greatly improves the chances of a spot Solana ETF. Therefore, the SOL price could surge to a new all-time high in the coming weeks, making it an excellent crypto to buy.
With spot Ethereum ETFs starting to trade next week, I expect ETH-based meme coins to also skyrocket, led by Pepe. Some analysts even believe Pepe’s price could still deliver 20x returns in this bull cycle.
In fact, savvy investors are generally bullish on frog-themed meme coins. A new PEPE alternative – Pepe Unchained (PEPU) – has raised $4 million in its presale, thanks to its native Layer-2 blockchain, low trading fees, and high staking rewards.
Experts believe that PEPU has the potential to deliver returns of up to 100x after launch.
AI coins like Worldcoin, Internet Computer and The Graph could also prove to be excellent buys. A new AI-powered meme coin WienerAI has raised over $7.5 million in its pre-sale.
Despite its meme coin status, the new crypto coin is launching its own AI Trading Bot, similar to Floki. Unsurprisingly, experts have been quick to recognize its upside potential, with some predicting 50x to 100x returns.
