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Trump’s Crypto Plans The decision could significantly impact Donald Trump’s plans to create a strategic Bitcoin reserve. Trump promised he would not sell any of the country’s BTC holdings. US Senator Cynthia Lummis introduced the BITCOIN Act to establish a strategic reserve this year. The US is not the only country planning to establish a strategic reserve. Poland has seen a presidential candidate make a similar promise to create a reserve. Brazil is also looking to create a sovereign BTC reserve. BTC’s Stunning Month BTC stunned market watchers during November, registering an increase of almost 40% as it surged towards $100,000. However, its rally has stalled just short of the $100,000 mark, with the price falling from an all-time high of $99,655 on November 23. BTC’s latest rally has been driven by several factors like Donald Trump’s election victory, growing prospects of a clear regulatory framework, and a crypto-friendly administration. Trump has also promised to keep the SEC in check and will likely appoint a crypto-friendly SEC Chair after Gary Gensler steps down. 📲 **Follow me for more trading tips and market analysis!**$RSR
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Is Government Moves $1.9 B of bitcoin to a coinbase wallet Crypto Daily - According to blockchain firm Arkham Intelligence, The United States government has moved $1.9 billion worth of seized Bitcoin (BTC) to Coinbase (NASDAQ:COIN) Prime. The move comes amid growing conversations about establishing a strategic BTC reserve in the US under the incoming Trump administration. US Shifts Seized BTC The transaction involves almost 19,800 BTC seized in 2021 during an investigation into James Zhong’s Silk Road-related activities. Zhong is convicted of wire fraud after authorities discovered hidden BTC. The Department of Justice had previously seized over 50,000 BTC from Zhong, with the government retaining almost $18 billion worth of BTC. While the reason for the transfer is unknown, speculations are rife that the government could sell off the BTC or repurpose the stolen funds. “JUST IN: US Government moves $1.92 billion worth of #Bitcoin to a new address.” The transferred funds were sent to two wallets, each containing $969 million and $949 million in BTC respectively. The government still holds over $18 billion worth of BTC. The transfer of BTC comes with many expecting President-elect Donald Trump to make significant headway on a Bitcoin reserve bill early in his second term. However, Coinbase Prime has partnered with the US government to manage crypto assets linked to seizures and part of the broader enforcement landscape. Meanwhile, calls to pardon Silk Road founder Ross Ulbricht have intensified, with Trump facing renewed pressure to act on his campaign promises. 📲 **Follow me for more trading tips and market analysis!**$XRP
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$XRP XRP was trading at $2.4228 by 15:28 (15:28 GMT) on the Investing.com Index on Tuesday, down 10.32% on the day. It was the largest one-day percentage loss since December 3.$ The move downwards pushed XRP's market cap down to $142.9400B, or 4.15% of the total cryptocurrency market cap. At its highest, XRP's market cap was $155.2807B. XRP had traded in a range of $2.3236 to $2.8928 in the previous twenty-four hours. Over the past seven days, XRP has seen a rise in value, as it gained 84.66%. The volume of XRP traded in the twenty-four hours to time of writing was $48.7967B or 16.77% of the total volume of all cryptocurrencies. It has traded in a range of $1.3547 to $2.8928 in the past 7 days. At its current price, XRP is still down 26.36% from its all-time high of $3.29 set on January 4, 2018. 📲 **Follow me for more trading tips and market analysis!**
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Bitcoin slipped on Tuesday, remaining pinned below record highs as sentiment was rattled by reports that the U.S. government had mobilized some of its coins confiscated from the Silk Road marketplace. The world’s largest cryptocurrency fell into a trading range below the $100,000 level in recent weeks, after largely failing to cross the coveted level during a rally through November. But it still remained close to recent record highs of over $99,000. Bitcoin fell 1.8% to $94,111.0 by 09:03 ET (14:03 GMT). Most major altcoins rallied past Bitcoin in anticipation of more friendly policies under President-elect Donald Trump. XRP was a major beneficiary of this trend, hitting an over six-year high on speculation that the SEC will drop its long-running lawsuit against issuer Ripple. Bitcoin spooked by govt moving $1.9 bln Silk Road tokens Bitcoin clocked some losses after Arkham Intelligence data showed the U.S. government had moved nearly 20,000 coins, worth about $1.9 billion, onto Coinbase (NASDAQ:COIN). Such a move usually heralds a sale event. The coins were confiscated from the now defunct Silk Road online black market, and represent roughly 10% of the government’s overall Bitcoin stockpile, according to Arkham data. The mobilization of tokens onto an exchange usually heralds a sale event, with the government having sold off tokens through similar channels in the past. But the move may not necessarily herald a sale, given that Coinbase has a contract with the Justice Department’s U.S. Marshals Service to provide custody and trading of its digital assets. Trump Bitcoin reserve appears unlikely- TD TD analysts downplayed the possibility of a Bitcoin Strategic Reserve under Donald Trump, stating that the President-elect’s “ironclad” view that the dollar must remain the world’s reserve currency would stymie any attempts to hedge against the greenback. Bitcoin’s latest rally was driven by optimism over Trump’s election victory, given that he promised to enact crypto friendly policies and potentially establish a Bitcoin reserve.
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Today, the cryptocurrency market has reached a new milestone with its total market capitalization hitting **$3.32 trillion**[](https://coinmarketcap.com/ "1"). This growth is largely driven by Bitcoin and Ethereum, which have both seen significant price increases[](https://coinmarketcap.com/ "1"). Bitcoin is now hovering around **$97,765**, while Ethereum is at **$3,351**[](https://coinmarketcap.com/ "1"). Interestingly, Ripple's XRP has emerged as a standout performer, recording a **300% price increase** this month, pushing its market cap to **$110 billion**[](https://blockonomi.com/cryptocurrency-market-cap-hits-3-2-trillion-in-november-2024/ "2"). This growth has moved XRP past Binance Coin (BNB) to become the fifth-largest cryptocurrency by market value[](https://blockonomi.com/cryptocurrency-market-cap-hits-3-2-trillion-in-november-2024/ "2"). It's an exciting time in the crypto world! Are you invested in any cryptocurrencies, or just keeping an eye on the market trends? $BTC
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