On December 12, 2024, Time magazine announced that US President-elect Trump would be its Person of the Year, triggering a further rise in related cryptocurrencies. Later, when asked about the "strategic reserve of crypto assets" at the New York Stock Exchange, Trump said that "some great things will be done in the field of cryptocurrencies."
This is the first time that the industry has welcomed a US president who is so supportive of cryptocurrencies. What cryptocurrency targets are related to him? Do these Trump targets still have room for growth before taking office in January? Please see the inventory and analysis.
BAKKT: The Rise of the First Trump Concept CoinSince Trump's victory in the 2024 election, the cryptocurrency market has experienced significant fluctuations and new opportunities. Among them, $BAKKT has become a focal point in the market due to its close association with Trump, earning it the moniker "Trump Concept Coin."
Background of BAKKT is a company under the Intercontinental Exchange (ICE), established in 2018, initially renowned for providing trading and custody services for digital assets. BAKKT aims to offer a secure, regulated platform for institutions and consumers to buy, sell, and store cryptocurrencies. However, recent developments suggest that BAKKT is becoming part of Trump's strategy in the cryptocurrency market.Trump's Connection with BAKKTTrump Media & Technology Group (TMTG): Shortly after Trump's election win, the market heard rumors that Trump's social media company, TMTG, was in deep negotiations to acquire BAKKT. This news led to a significant surge in BAKKT's stock price, reflecting investors' optimism about the cryptocurrency policies Trump might push. Trump promised to retain 53% of TMTG's shares, further solidifying his influence in the cryptocurrency market.
Policy Impact: Trump's campaign promises included promoting the role of Bitcoin in the U.S. economy, even considering it as a strategic reserve asset. This policy direction offers immense development space for platforms like BAKKT. The market anticipates that the Trump administration might enact regulations favorable to the cryptocurrency industry, further driving the concept and practical application of $BAKKT.
Personnel Appointments: Trump nominated former BAKKT CEO Kelly Loeffler as Secretary of Agriculture, further highlighting the close ties between BAKKT and the Trump administration. Loeffler, not only a co-founder of BAKKT but also a co-chair of Trump's inaugural committee, with her husband being the founder and CEO of ICE and a Trump donor, at the same time ICE holds a 55% stake in BAKKT, signals Trump's support for the development of the cryptocurrency sector through these appointments.
Trump's Event at the New York Stock ExchangeIn a series of attention-grabbing actions, Trump, as the president-elect, rang the opening bell at the New York Stock Exchange (NYSE). This was the first time a president-elect had done so since Ronald Reagan. This event not only symbolizes Trump's focus on financial markets but was also set against the backdrop of his announcement to make breakthroughs in the cryptocurrency sector. Also during the ceremony, when interviewed by Jim Cramer, President Trump said that "We are going to do something great with crypto". Trump's bell-ringing event was seen as a vote of confidence and support for BAKKT and similar platforms, boosting the attention and value of BAKKT Coin in the market.The men standing right next to him at the ceremony was Jeffrey Sprecher - the founder and CEO of global stock exchange operator Intercontinental Exchange, also known as ICE. ICE owns the New York Stock Exchange (NYSE) and BAKKT，Back in March, when $DJT Trump Media Stock IPO’d on NASDAQ, Trump expressed an interest & desire in moving DJT Trump Media over to the NYSE.
Market Performance of $BAKKTSince Trump's election, BAKKT Coin's market performance has been exceptionally notable. BAKKT's price soared by over 4000% overnight, showing the market's strong recognition of it as a Trump Concept Coin. Investors are betting on the potential cryptocurrency-friendly policies from the Trump administration, driving up the market cap and trading volume of $BAKKT.Future Outlook$BAKKT, as the "Trump Concept Coin," has not only captured the wide attention of investors but also symbolizes the beginning of a new era for the cryptocurrency market under political influence. The future development will depend on the actual effects of policy implementation and BAKKT's strategic adjustments.
The Trump family is planning a blueprint for a crypto empire. Trump’s Crypto Project Is Buying Niche Tokens Worth Millions of Dollars, World Liberty Financial will serve as a value investment entity to attract users, and BAKKT, which has a national crypto operating license, will serve users as infrastructure in future.We are witnessing the rise of another crypto trading giant. If it can reach the level of a first-class exchange, $BAKKT has the potential to grow 10,000 times from its current million-dollar MC.
$BAKKT OFFICIAL LINKS:
CA: Hz4CJCpZky4YD75Zs2R2nBjP5wY6tYbraaT2hVZCpump (SOLANA chain)
X/TWITTER:http://x.com/BAKKT_Solana
TELEGRAM: EN:http://t.me/BakktSolana CN:http://t.me/BakktSolanaCN
WEBSITE: https://bakkt.wtf
LISTED ON GATE IO:https://gate.io/pilot/solana/bakkt-bakkt…
LISTED ON MEXC:https://mexc.com/exchange/bakkt_USDT…
ASSETS COINGECKO:https://coingecko.com/en/coins/bakkt
ASSETS FORBES:https://forbes.com/digital-assets/assets/bakkt-bakkt/…
COINMARKETCAP:https://coinmarketcap.com/dexscan/solana/3c3KVbgpS3jorxUXHWaBZg4KSm6sC7T4V4wZUNrqhgUU/
DEXSCREENER:https://dexscreener.com/solana/3c3KVbgpS3jorxUXHWaBZg4KSm6sC7T4V4wZUNrqhgUU
GMGN:https://gmgn.ai/sol/token/Hz4CJCpZky4YD75Zs2R2nBjP5wY6tYbraaT2hVZCpump
OKX:https://www.okx.com/web3/dex-market/detail/501/Hz4CJCpZky4YD75Zs2R2nBjP5wY6tYbraaT2hVZCpump
