On December 6th, Beijing time, the US President-elect Trump announced the appointment of David Sacks as the head of AI and cryptocurrency affairs at the White House, a position colloquially referred to as the 'AI and cryptocurrency tsar' in the market.
Sacks' position mainly involves guiding the government in formulating policies in the fields of artificial intelligence and cryptocurrency. He will also lead the President’s Council of Advisors on Science and Technology.
Delving into Sacks' background, we find that he made his fortune in fintech, is a close friend of Musk, and is a fellow member of the PayPal Mafia. He founded his own venture capital firm, Craft Ventures, in 2017. He has maintained an open and accepting attitude towards cryptocurrencies and has led investments in crypto asset-related projects, including Bitwise, Harbor, and Set Protocol.
This appointment is undoubtedly good news for both the tech and crypto circles, as Sacks is deeply involved in both fields and has a certain level of influence.
In terms of cryptocurrency, Sacks' appointment will also accelerate the legalization and regulation of crypto assets in the US, creating a more open environment, attracting more innovators and investors, and further consolidating the US's leadership position in the global crypto economy.
The next step is likely the SEC, as a picture of crypto governance is unfolding in 2025.
The altcoin season index has soared from 28 on November 22 to 85 today. About 89 of the top 100 cryptocurrencies by market cap have outperformed Bitcoin. Notable old altcoins like XRP, crv, and ALGO have seen impressive gains.
With the policy changes potentially pushed by the Trump administration, US crypto projects with compliance and traditional finance backgrounds will become the new favorites among institutional investors. By introducing these assets into platforms like Coinbase and Grayscale, institutional funds will be able to smoothly enter the crypto market.
In the past 30 days, the average increase of assets held by Grayscale Trust, weighted by circulating market cap, has reached 218.27%.
The following are tokens not held by the Grayscale fund:
First, we can see that the leading token - $XLM (Stellar), has seen a 30-day increase of 400.4%. Stellar is a blockchain platform focused on cross-border payments and remittances. Its native token, Stellar (XLM), facilitates transactions by acting as a currency exchange intermediary and lowering costs. This surge is partially attributed to Grayscale's recent submission of a 10-K filing for its Grayscale Stellar Trust, which added 34,875,230 XLM tokens (valued at approximately $3,923) to the trust, increasing the net assets of the trust.
We see that tao has the smallest increase. Currently, the 30-day increase is 45.3%. Although tao, as a new VC coin, faces selling pressure, its fundamentals are very strong as an AI, and the technical outlook shows a clear bull market pattern. An ideal buy point for a pullback would be around $680.
Additionally, the tokens displayed in the images above are limited; we will pull out another longer list of Grayscale's planned holdings, totaling 35 cryptocurrencies.
First, categorize the 35 cryptocurrencies by track and rank them by market cap.
The DeFi track has a total of 7 cryptocurrencies: JUP, ONDO, ENA, CORE, RUNE, AERO, PENDLE.
The underlying infrastructure track has a total of 6 cryptocurrencies: TIA, PYTH, ATOM, AKT, UMA, UMA, NEON.
The Layer 1 track has a total of 10 cryptocurrencies: TON, TRX, APT, INJ, ICP, KAS, VET, OM, CELO, SEI.
The Layer 2 track has a total of 7 cryptocurrencies: OP, ARB, STRK (formerly MATIC), MNT, IMX, METIS.
The DePIN track has a total of 2 cryptocurrencies: AR, HNT.
The AI + track has a total of 2 cryptocurrencies: FET, WLD.
The meme track has a total of 1 cryptocurrency: DOGE.
Personally, I am most optimistic about three targets: JUP, FET, DOGE, TON.
JUP is a DEX on the Solana chain, and the popularity of memes greatly supports both ray and jup. Recently, Grayscale removed ray but retained Jup, indicating a choice between the two. Jup has a long-term accumulation range and bottom structure, and we believe that a pullback to around 1.3 would be a good entry point.
FET, among the three major players in AI, has already been introduced, but its price is relatively high, while WLD has too much space in its fundamentals, making FET the most favored choice for retail investors. FET is also included in the index 50, with nearly full circulation.
DOGE goes without saying, as Musk's token, it might soar to incredible heights next year, with a target of 1U.
Lastly, there's ton, a magical public chain that focuses on traffic rather than TVL like others. This may be a potential reverse black swan, likely bringing a massive influx of new investors to the crypto space. It remains to be seen if there will be a breakout in games, memes, etc., especially after a significant explosion in playable games, which could push TON to incredible heights.
In the past 30 days, among the several tokens mentioned above, FET's increase is 47.9%, JUP's increase is 47%, DOGE's increase is 84%, and TON's increase is 43%. Except for DOGE, none of them have seen particularly dramatic gains.
Opportunities are shared with everyone, and it's up to individuals to seize them.
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