There are quite a few reasons for the popularity of altcoins when used in cryptocurrency mixers. Plus, a number of top cryptocurrencies will now be included in the US cryptocurrency reserve soon. The only thing is that in matters of anonymity, some altcoins were embarrassing, so they did not get the popularity they needed among users of cryptocurrency mixers.
In my opinion, only bitcoin has the potential right to be used as a reserve asset for any country as its a digital gold; other than that, if we look at the recent Trump tweet on X, he is considering some other altcoins as well for the American national reserves like XRP, ADA... After his tweet, ADA got pumped and increased its value to 2x.
On the other hand, the market is way more frustrating because of the Trump effect, haha, as he has imposed tarrifs on many countries, including Mexico, Canada, and China. This thing effects the market sentiments very badly. IMO, it has to be stopped, and it will be, and it cannot carry on for a long time. These countries have to settle up or sort out these tarrif wars after discussing some other beneficial agreements. What do you think of it?
Yes, the tariffs imposed by the US is greatly affecting the market, even the crypto economy is having the impact, However, I think this high tariffs will gradually be absorbed by the crypto market in a short periods.
Now, as concerning the Bitcoin strategic reserve, the addition of some altcoins, Solana, Ada, XRP, Ether tokens is not a bad idea, at least, investors should be able to diversify the investments opportunities on other crypto assets, and also help reduce Bitcoin market dominance factors on the long run.
I think the idea of adding some altcoins is a welcome development, like I mentioned, it will definitely reduce Bitcoin dominance.