In the latest Altcoin Daily video analysis, analysts highlighted the huge potential a crypto-friendly Trump administration offers for altcoins, while also drawing attention to the latest developments in the sector. The analyst noted that a crypto bill called Fit21 could classify cryptocurrencies as commodities, provided that blockchain technology is sufficiently decentralized. The bill would have a higher chance of becoming law if approved by a Republican-controlled Senate. Decentralization is defined as no single asset owning more than 20% of a network, creating a clear distinction between commodities (regulated by the CFTC) and securities (under the SEC). The bull market triggered by the change in policies also creates opportunities for altcoin projects other than ETH and BTC.
Chainlink (LINK) stands out with its Chainlink Runtime Environment Framework, which aims to integrate traditional financial systems with blockchain protocols. This innovation makes Chainlink a major player in integrating legacy financial institutions into the blockchain ecosystem. Currently trading at $14.23, Chainlink has seen a 4.67% pullback in the last 24 hours, but has gained 45% in the 7-day bull market. This pullback could test the 200-day SMA and find support around $12.89. After a temporary bottom, the bull trend remains strong and a positive crossover between the 100-day and 50-day SMAs is observed. According to analysts, after the pullback, LINK could break through the resistance at $16.75 and reach $21.69 by the end of the month.
XRP was once the second-largest asset in the crypto market but is facing a tough time due to the SEC lawsuit. However, Ripple CEO Brad Garlinghouse remains optimistic. Rumors of a post-Trump presidential meeting have sent XRP’s price up 10%. Ripple’s 40% outstanding tokens remain a concern under the Fit21 law, but the possibility of a token burn could address that. Additionally, an XRP ETF could further accelerate growth.
Cardano (ADA) is making major investments to incorporate Bitcoin-based decentralized finance into its ecosystem. Cardano founder Charles Hoskinson aims to make Cardano the dominant platform in the Bitcoin-based DeFi ecosystem. These steps could increase Cardano’s adoption and fuel competition in its ecosystem.
AIT Protocol is a new project creating a decentralized marketplace for AI model training. The subnetworks built on BitTensor specialize in logic and mathematical problem solving. While the success of the project is still uncertain, its innovative approach to AI and blockchain integration could become a major success in the future.
Solana (SOL) has reached a remarkable milestone by surpassing Ethereum and all Layer-2 solutions combined in terms of decentralized exchange (DEX) volume. This achievement further establishes Solana’s growing dominance in the DeFi ecosystem and positions it as a blockchain to watch closely. According to experts, these developments at Solana and the diversity of the blockchain could herald significant opportunities in the pro-crypto regulatory landscape.
These developments showcase the diversity and innovation in the crypto space. Policy changes can create huge opportunities for altcoin projects and trigger new trends that attract investors. A pro-crypto regulatory environment can enable these projects to grow and reshape the dynamics in the industry.
