Trump's encrypted reserves boost XRP, ADA while other cryptocurrencies are under pressure
Since Trump's election, XRP and Cardano (ADA) have risen by 375% and 163% respectively, while Bitcoin, Ethereum, and Solana have shown weaker performance. The rise of XRP and ADA benefited from the improved regulatory environment of the Securities Exchange Commission (SEC).
Under the leadership of new acting chairman Mark T. Uyeda, the SEC has stopped enforcement actions against several major cryptocurrency companies.
Bitcoin is currently trading at around $86,700, up about 29% since November but far below its January peak of $108,000. Some researchers believe that if Trump had not included Cardano in reserves its performance would be inferior; XRP's rise is more due to hopes that litigation with the SEC will end soon. (Decrypt)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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