Bitcoin (BTC) Nears $100K, and Altcoins Surge as SEC Confirms Gensler’s Exit

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As a seasoned crypto investor with over a decade of experience in this wild and ever-evolving market, I must say today has been nothing short of exhilarating. The announcement of Gary Gensler’s resignation and Donald Trump’s second term have sent shockwaves throughout the crypto sphere, causing a bullish trend that even the most skeptical among us couldn’t ignore.

After the Securities and Exchange Commission (SEC) announced that its chairman, Gary Gensler, will step down on January 20, 2025 – the same day Donald Trump begins his second term as President – there’s been a surge in the cryptocurrency market. Bitcoin (BTC) is now close to breaking the $100,000 barrier, and other altcoins have also seen significant gains following this announcement.

Today saw a positive trend for Bitcoin (BTC) and several top altcoins like Ripple (XRP), Solana (SOL), and Cardano (ADA) following Gary Gensler’s announcement of his departure as chair of the SEC on the day President-elect Donald Trump began his second term. The market responded positively to this news, with coins such as Ripple (XRP), Solana (SOL), and Cardano (ADA) experiencing significant growth. Bitcoin (BTC) reached a new all-time high of $99,502 and is expected to break through the $100,000 mark shortly.

News about Gensler’s impending departure sparked fresh hope in the market, resulting in impressive price surges for altcoins. Let’s dive into today’s top performers and uncover Husky Inu (HINU), the newest Solana-based memecoin brimming with lucrative investment prospects.

Ripple (XRP) Rallies as Gensler Plans to Step Down

On a significant upswing, Ripple (XRP) saw a 25% price increase following the announcement of Chairman Gensler’s potential departure. Ripple Labs has been entangled in a high-profile legal dispute with the Securities and Exchange Commission (SEC), which took a toll on their finances. In 2020, the SEC filed a lawsuit against Ripple for allegedly violating securities regulations, leading numerous exchanges like Coinbase, Kraken, Bitstamp, and Gemini to remove XRP from their platforms. However, Ripple managed to secure some respite in 2023 when they gained a partial victory over the SEC in their three-year legal battle. The Southern District of New York Court ruled that Ripple’s XRP token may not be considered a security by default, according to Judge Analisa Torres’ decision.

In just the last day, the value of XRP has skyrocketed by approximately 26%, peaking at $1.50. This surge has brought XRP’s total market capitalization to an impressive $81.22 billion. Additionally, its trading volume has seen a significant boost, exceeding 234% within the same 24-hour period.

ADA Jumps 13% After Cardano Releases Updated Constitution

The group responsible for developing the Cardano blockchain, known as the Cardano Foundation, unveiled an upgraded plan for the Cardano Constitution with the aim of enhancing network management. This new plan incorporates modifications to constitutional workshops, online discussions on social media platforms, and feedback from experts and the community. These adjustments are intended to make the Cardano governance framework more approachable and transparent, particularly for those who are less technically inclined. Following the release of this updated proposal, the value of Cardano’s ADA token increased by 13%.

ADA, one of the rapidly rising digital currencies, has seen an increase of more than 153% over the past month. This surge took place following Charles Hoskinson, the founder of Cardano, announcing his intentions to contribute to shaping American cryptocurrency regulations within the incoming administration of Donald Trump.

Solana (SOL) Reaches New ATH

This year, Solana (SOL) has been one of the most scorching alternatives to Bitcoin, boasting an increase of over 367% in the past year. The Solana network stands out as the preferred platform for creating meme-based cryptocurrencies due to its impressive capacity to manage high transactions per second (TPS) at minimal transaction costs. The strength and vibrancy of the Solana blockchain, coupled with an engaged and active community, make it a perfect environment for developing memecoins.

In the dynamic world of cryptocurrency, Solana (SOL) is making significant strides and aiming to capture a substantial portion of Ethereum‘s (ETH) market dominance. Today, SOL hit a new all-time high of $263.70 as regulatory filings for a Solana ETF spiked following Gary Gensler’s announcement of his departure from the SEC.

Great Things Ahead for Solana-Based Husky Inu (HINU)

After the halving event earlier this year, Bitcoin is nearing its highest level of dominance, indicating the onset of an “altcoin rally” or “altseason.” During altseason, investors often shift their focus to lesser-known projects, causing substantial price increases for these alternative coins (altcoins). Lately, there’s been a noticeable surge in altcoin prices, fueled by Donald Trump’s victory and the news that Gary Gensler is leaving the Securities and Exchange Commission.

Investors searching for value-packed alternatives during this unprecedented market surge should consider Husky Inu as their optimal choice.

Husky Inu (HINU) is the newest memecoin to hit the market, built on the Solana blockchain. The creators of Husky Inu aim to provide more value and utility to its holders by utilizing this robust platform. The project and its token, HINU, aim to stand out in the crowded memecoin market by fostering a strong community through innovative features and increased rewards. Husky Inu recently started a presale for HINU, which has drawn significant interest. Since its launch, the presale has raised over $563,000 and is nearing its fundraising goal.

The achievements of Husky Inu’s presale are driven by its distinctive features and aspirations, which include developing its own Earn App and a Decentralized Exchange. The Earn App is designed to incentivize users with HINU tokens as they interact with the platform and accomplish simple tasks like liking, reposting, or sharing content. Husky Inu’s Decentralized Exchange will streamline decentralized trading, ultimately enhancing the usefulness and worth of HINU for its owners.

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2024-11-22 20:09