In a recent video analysis by Altcoin Daily, the analyst highlighted five Altcoins with huge potential under a pro-crypto currency government led by Trump, while also providing insights into the latest developments in the cryptocurrency space.
The analyst pointed out that the Fit21 crypto bill would classify digital assets as commodities, provided their blockchain is sufficiently decentralized. That said, the Republican-controlled Senate may increase its chances of becoming law. The definition of decentralization is that no single entity owns more than 20% of the network, clearly distinguishing commodities (regulated by the CFTC) from securities (regulated by the SEC).
The bullish wave driven by political change is creating space for currencies beyond ETH and BTC.
Here are the top picks of the week!
Chainlink (LINK)
Chainlink stands out with its Chainlink Runtime Environment framework, aimed at seamlessly connecting traditional financial systems with blockchain protocols. By supporting familiar programming languages, the framework simplifies the creation of advanced smart contracts and promotes interoperability. This innovation makes Chainlink a key participant in integrating traditional institutions into the blockchain ecosystem.
Chainlink (LINK) is currently trading at $14.23, down 4.67% intraday, ending a 7-day bullish streak with a 45% gain. The pullback may test the 200-day moving average, with potential support around $12.89. Although temporarily declining, the bullish trend remains strong, as evidenced by the positive crossover between the 100-day and 50-day moving averages. After the pullback, LINK is expected to break through the $16.75 resistance and potentially reach $21.69 by the end of the month.
XRP
XRP was once the second-largest digital asset, but has come under pressure due to the lawsuit by the U.S. Securities and Exchange Commission. However, Ripple CEO Brad Garlinghouse remains optimistic. There have been rumors that Ripple will meet with President-elect Trump, sparking speculation that XRP will surge after the election, which it did by 10%. While Ripple's 40% escrow holdings remain an issue under Fit21, the possibility of token destruction may solve this problem. A XRP ETF could further drive growth.
Cardano (ADA)
Cardano is heavily investing in integrating Bitcoin DeFi into its ecosystem. Cardano founder Charles Hoskinson plans to make Cardano the leading platform for decentralized finance based on Bitcoin. These efforts may drive adoption and expand its ecosystem, especially in the face of increasing competition.
AIT Protocol
AIT Protocol is a newer entrant, creating a decentralized market for AI model training. Its subnetwork is built on BitTensor, specifically designed to solve logical and mathematical problems. While its execution is still a gamble, its innovative approach to AI and blockchain integration may determine its success in this cycle.
Solana (SOL)
Solana's decentralized trading volume has surpassed the total of Ethereum and all its L2s, marking a milestone in adoption. This highlights its growing dominance in the DeFi space, making Solana a blockchain to watch closely.
The combination of mature projects and emerging ones reflects the diversity and innovation in the crypto space, signaling significant opportunities in the pro-crypto regulatory environment.
