Top 5 Cryptocurrencies To Buy After Trump’s Crypto Speech
One of the main goals of the current US administration, led by President Donald Trump, is to make the country the global leader in cryptocurrency. Trump has spoken about this goal many times, even before he was elected, and he continues to emphasise it. In a recent speech, he discussed the strict rules set by the previous administration and explained how his team is working to build the country’s crypto reserves. He highlighted five cryptocurrencies: XRP (Ripple), Solana, Cardano (ADA), Bitcoin, and Ethereum. The crypto market, which often reacts strongly to the news, saw a 62% increase in the value of XRP, Solana, and ADA and a 10% rise in Bitcoin and Ethereum.
Investing in these coins could be wise, as the administration plans to implement policies and regulations to support their growth. Let’s look at them individually and why you should collect them after Trump’s mention.
Bitcoin (BTC)
Bitcoin is the first crypto coin released after the Satoshi paper. Despite breaking an all-time price high shortly after Trump’s election victory, it is expected to still rise in value thanks to Trump’s long-term crypto plans. Currently, the United States holds a large amount of BTC and is expected to buy more for its proposed reserve.
Bitcoin is often regarded as digital gold because of its scarcity and potential for long-term growth. As a result, it is one of the most highly traded assets in crypto trading. It is also the most liquid coin, which makes it easy to buy and sell. Due to its wide adoption as a mode of payment, it is a great option for you. Bitcoin currently hovers around $86,636.54 as of the time of writing.
Ethereum (ETH)
Ethereum is another cryptocurrency you should consider. It is known for its decentralisation and is second only to Bitcoin regarding market cap. ETH has many use cases, including earning on investments by staking, playing games, and interacting on social media. Its smart-contract characteristics help eliminate the need for intermediaries, a form of security for the coin.
With a market capitalisation of about $261.95B and a price range of $2,172.12 per Ethereum, it is expected to attract major investors in light of Trump’s recent speech. The total supply of Ethereum is about 120 million and runs on about 15.8 transactions per second. Thanks to a proof-of-stake mechanism, it is energy efficient and perfect for building Dapps like NFTs and DeFi tokens. These features make ETH a credible addition to your portfolio at the moment.
Ripple (XRP)
Ripple’s XRP has been on several investors’ radars since former Securities and Exchange Commission chair Gary Gensler stepped down. Buying XRP is a smart move due to the tokens’ unique properties. It is one of the cryptocurrencies known for its international payment, and it is not mined like other coins; instead, it is obtained through a process known as a unique consensus mechanism.
XRP’s market capitalisation is about $145 billion, with a price of about $2.50 and a circulating supply of 57 billion. It has very fast translation speeds, and it is used mainly by big financial institutions for payments. Due to its low transaction cost, you could also use XRP for cross-border payments.
Solana (SOL)
Solana has many profitable prospects, as it has grown by over 11% in recent weeks. It has become a point of interest for savvy crypto investors after being mentioned by the president, and rightly so. It has a total supply of about 595 million Solana with a price tag of about $145.68. Its market capitalisation is about $73 billion, with about 65,000 transactions per second, which makes it very fast and highly scalable. You could also use Solana for the building of NFTs, just like ADA and ETH, and you also don’t have to worry about transaction fees as they are low. Are you thinking of a cryptocurrency that has short and long-term profit prospects? Solana is a good option.
Cardano (ADA)
Cardano’s ADA has powerful scaling properties, which is one reason you should consider collecting ADA. It was created using Proof of Stake ouroboros, which minimises energy consumption. This coin was launched in September 2017 and has about 35 billion ADA in circulation, with a current price of $0.87. Despite its current valuation per token, which stands at less than a dollar, it has a high propensity for growth in the long run.
It has a market capitalisation of about $12.67 billion and plans to achieve about 1 million transactions per second. ADA allows easy interaction with other blockchains and uses smart contracts, which can be used to explore Dapps like NFTs.
Criteria To Consider Before Collecting a Coin
These five coins mentioned by the president of the US are viable crypto additions to your portfolio. Still, before acquiring them, you must ensure that the coins you acquire are perfect for your needs. Here are tips to help you make the right crypto investment choice:
● Adoption: Analyze how many people adopt the coin and what institution recognises it. A wide adoption can be social proof.
● Market trends: Check for the market trends of the coin you plan to invest in, as it will guide you on how the coin has been performing. Opting for a coin in the top market trend might be a good decision.
● Price performance: Knowing the coin’s previous and current price can also give you insight into its performance. Even though the price action might not reflect the coin’s actual value, it can provide insight into its performance.
● Utility: Knowing the coin’s utility can help you discern the coin’s actual value. This can be obtained from its use cases. For example, if the coin’s ‘use cases’ improve, the coin will improve.
You should also check the regulations governing each coin, as there can be different regulations pertaining to each.
Why Now Might Be the Right Time To Invest in These Coins
The market growth of the five coins shortly after the speech reflects that investment decisions are already moving towards the coins, and this could be the best time for you to invest in them. However, before you acquire anyone, ensure they have the utility, price performance and adoption that suit your purpose and satisfy your performance criteria.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
