There is a buzz that Donald Trump’s influence could help boost some popular cryptocurrencies like Cardano (ADA) and Dogecoin (DOGE).
There is a buzz that Donald Trump’s influence could help boost some popular cryptocurrencies like Cardano (ADA) and Dogecoin (DOGE).
Experts believe that these tokens may hit new highs, but another altcoin, DTX Exchange (DTX), is also gaining attention with a price of just $0.08. With Trump's support for crypto-friendly policies, people are excited to see how these tokens may grow. Could this be the start of a big payday for crypto enthusiasts?
ADA price rises amid US crypto policy talks
On November 10, 2024, ADA rallied 35% after Cardano founder Charles Hoskinson announced that he would begin working with U.S. lawmakers on new cryptocurrency rules.
Charles’ involvement comes at an opportune time as the U.S. government pays more attention to digital currencies like Bitcoin, Ethereum, and ADA. With Donald Trump returning as president, there are increasing discussions about creating fair rules to keep people safe and allow for new ideas and developments in the cryptocurrency space. Charles hopes to help guide these negotiations so that the government can make smart choices in supporting the development of cryptocurrencies.
In a video on X (formerly Twitter), Charles stated: “I will be spending a lot of time working with lawmakers in Washington, D.C. to help shape crypto policy.” The news sent ADA’s price up 35% as people became excited and hopeful about the future of Cardano.
The price increase has made Cardano one of the best performers among the major cryptocurrencies, especially at a time when many other currencies are facing uncertain regulation.
Trump and Musk jointly announced the establishment of DOGE government department
Dogecoin surged on Tuesday night, extending its recent gains after Donald Trump, who had just won the election, announced that he would create a Department of Government Efficiency. He even referred to it as "DOGE" in his statement.
Trump said Tesla CEO Elon Musk and Vivek Ramaswamy, who once ran for president and helped start a major investment firm, will run the new department and plan to help cut extra rules, reduce wasteful spending and reorganize the way government agencies work.
After Trump's victory was announced, the price of Dogecoin rose by nearly 20%. It reached a high of around 43 cents, but then stabilized at 37 cents. Since Election Day, Dogecoin has performed well, rising 153%, far more than Bitcoin, which has only risen 30%. Dogecoin even surpassed XRP to become the sixth largest currency in value.
DTX Exchange: One-stop trading for cryptocurrencies, stocks, and more using Phoenix Wallet
The DTX exchange is a place where you can trade a wide range of assets, such as digital currencies (cryptocurrencies), stocks, gold and even oil. November this year was a good month for DTX. The platform raised more than $7.48 million, and the price of its special currency, the DTX coin, rose by 300%. Currently, the price of one DTX coin is about 8 cents, and experts believe that it may soon rise by another 50%.
What’s special about the DTX exchange is that it mixes two types of trading platforms: CEX (centralized exchange) and DEX (decentralized exchange). This “hybrid model” allows people to trade over 120,000 different assets on the same platform. DTX also respects the privacy of its users, so users don’t need to share personal information to start trading. In addition, anyone can use DTX from anywhere in the world.
DTX Exchange also has something called Phoenix Wallet. This wallet helps users keep all their assets in one place, so if a trader has cryptocurrencies, stocks, or foreign currencies like USD or EUR, they can manage all of their assets in one app. Phoenix Wallet makes holding, investing, and trading simple, all with one app.
