Bitcoin
The former President wooed the pro-Bitcoin crowd with a long list of crypto-friendly promises.
Right after Presidential Republican nominee Donald Trump’s speech, Senator Cynthia Lummis (R-Wyo.) laid out the much-anticipated idea of a strategic bitcoin reserve to wild applause.
The price of BTC and ETH have both reacted similarly in the days after their respective spot ETFs went live. But experts say it’s unlikely that ETH will soon rally to an all-time high, as BTC did.
The rumored plan would involve new legislation that would make bitcoin a strategic reserve asset for the U.S. central bank.
At the Bitcoin Conference, Senator Scott, the likely Senate Banking Committee Chair next year in a potential GOP-led Senate, revealed for the first time his pro-crypto position.
Regulation
As crypto policy has become a campaign issue in a Presidential election for the first time, how likely is it that any of the promises from Trump come true?
Ethereum
Solana’s trading volume so far in July has outpaced Ethereum’s base layer, but the trading volume of Ethereum combined with that of its layer 2 networks well exceeds that of Solana’s.
Speculation has been growing that the former President will announce plans to establish a bitcoin strategic reserve during his speech on Saturday at the 2024 Bitcoin Conference.
According to one CryptoQuant analyst, a negative Bitcoin Coinbase Premium Index suggests lower demand from US investors.
The price of bitcoin rose past $67,000 on Thursday despite Mt. Gox distributions nearing the halfway point of completion.
