Recently, it seems the crypto community's attention has been focused on the political actions of the US government, specifically President Trump. It's great that Trump has fulfilled almost all his promises related to crypto, except for taking crypto to the moon. However, unfortunately, these have been overshadowed by concerns about trade wars and the risk of financial recession. The market really needs a big enough event to break this atmosphere of skepticism and fear.
In this context, tokens originating from the US are mentioned more frequently, especially since Trump mentioned XRP, SOL, and ADA for the crypto reserve fund
[1]. Eric Trump also stated that US tokens would provide tax-free benefits for crypto investors
[2], and even Coinmarketcap has a separate list of "Made in USA tokens"
[3]. It seems everything is ready for a US token explosion when needed.
However, David Sacks said that XRP, SOL, and ADA were only mentioned by Trump because they are top coins in the market in terms of marketcap, nothing special
[4]. This sounds quite reasonable, but when we carefully observe on Coinmarketcap: besides BTC, ETH, USDT, and USDC, we have the following tokens in descending order of capitalization: XRP (138B) - BNB (86B) - SOL (69B) - ADA (26B).
I'm keeping an eye on BNB: its market cap is nearly equal to the combined market cap of SOL and ADA, yet it wasn't mentioned by Trump. This is clearly unusual, and David Sacks might be trying to hide something, like Trump only mentioning the top coins on the Made in US tokens list, and Binance's BNB isn't on that list, so Trump didn't mention it.
Conspiracy theories are everywhere, and I love thinking about them when the boring market gives us a break and lets us look for interesting stories about the market itself. I think the market needs more momentum to break out, and I won't pass up an opportunity with US tokens if this trend explodes soon. I still remember the rise of Made in China tokens right after Hong Kong was allowed by China to experiment with crypto, many investors made huge profits by seizing that opportunity.
I'd like to know your opinion on this:
- Do you have any expectations for the success of Made in US tokens in the near future?
- Are you currently holding or looking to invest in any Made in US tokens?
- Are you still waiting for the altseason to continue?
References:[1]
Donald Trump Names XRP, SOL, ADA, BTC and ETH as Part of U.S. Crypto Reserve[2]
Eric Trump Confirms U.S.-Based Crypto Projects Will Benefit From Zero Capital Gains Tax[3]
Made in America Tokens[4]
David Sacks says XRP, SOL and ADA are in Trump’s spotlight due to market cap dominance
Note:- My opinion has been presented in a topic, on BitcoinTalk forum.
- This topic on AltcoinsTalks forum has included a minor change in the way my opinion is presented.
- This statement is to avoid accusations of plagiarism.