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<p>The recent U.S. election has created a wave of excitement in the crypto market, with Donald Trump’s victory sparking optimism across the industry. As Bitcoin, Solana, and Dogecoin surge, investors anticipate regulatory changes that could benefit digital assets under the new administration.</p><h3 id="trump-s-win-sparks-hopes-for-crypto-friendly-regulations">Trump’s Win Sparks Hopes for Crypto-Friendly Regulations</h3><p>With Trump projected to secure 306 electoral votes, his return to the White House may bring favorable shifts in crypto regulations. His campaign promises include removing SEC Chair Gary Gensler, establishing a national Bitcoin reserve, supporting U.S.-based crypto mining, and opposing a central bank digital currency (CBDC). These pledges have fueled hopes for a more welcoming environment for blockchain innovation.</p><p>Coinbase CEO<a href="https://x.com/brian_armstrong" rel="noopener noreferrer nofollow"> Brian Armstrong</a> noted a surge in pro-crypto support within Congress, with over 200 pro-crypto representatives elected to the House. This development paves the way for clearer policies that could reduce regulatory pressures on the crypto industry. “Americans across party lines are vocal about their desire for crypto-friendly regulations,” Armstrong emphasized.</p><h3 id="dogecoin-soars-amid-trump-and-musk-speculations">Dogecoin Soars Amid Trump and Musk Speculations</h3><p>Following Trump’s win, Dogecoin (DOGE) surged by 30%, hitting $0.21 for the first time since April. The price spike was fueled by speculation around <a href="https://x.com/elonmusk" rel="noopener noreferrer nofollow">Elon Musk</a> and Trump’s mention of a potential “Department of Government Efficiency” (D.O.G.E.). This idea quickly gained traction within Dogecoin’s community. The momentum allowed DOGE to surpass XRP, making it the seventh-largest cryptocurrency with a $30 billion market cap.</p><h3 id="solana-gains-institutional-attention-as-traditional-finance-moves-in">Solana Gains Institutional Attention as Traditional Finance Moves In</h3><p>Meanwhile, Solana’s influence is expanding beyond retail traders, with <a href="https://www.coindesk.com/markets/2024/11/05/its-so-early-how-solana-is-competing-with-ethereum-for-institutional-interest/" rel="noopener noreferrer nofollow">financial giants</a> like Citibank and Société Générale launching projects on the blockchain. Attracted by its low transaction costs and high throughput, Solana is gaining recognition as a strong competitor to Ethereum.</p><p>Solana’s built-in scalability and low fees appeal to high-volume applications, such as real-time payments. Tristan Frizza, founder of Solana-based <a href="https://www.zeta.markets/" rel="noopener noreferrer nofollow">Zeta Markets</a>, highlighted Solana’s capabilities, noting, “Institutions are building innovative applications on Solana.” This shift underscores Solana’s suitability for complex financial products.</p><h3 id="vaneck-launches-pyth-etn-expanding-defi-access-for-traditional-investors">VanEck Launches PYTH ETN, Expanding DeFi Access for Traditional Investors</h3><p>VanEck recently launched an <a href="https://www.investopedia.com/terms/e/etn.asp" rel="noopener noreferrer nofollow">exchange-traded note</a> (ETN) for the PYTH token on the Euronext Amsterdam and Paris exchanges. The <a href="https://www.pyth.network/" rel="noopener noreferrer nofollow">Pyth Network</a>, a decentralized oracle protocol, enables real-world data integration with smart contracts. Through this ETN, VanEck offers investors a regulated way to participate in DeFi without directly holding PYTH tokens. Bank Frick, based in Liechtenstein, securely holds the ETN’s assets, adding an additional layer of security.</p><p>This launch highlights the convergence of DeFi and traditional finance. The recent 3.85% rally in PYTH’s value underscores the growing interest in DeFi solutions within the traditional finance sector.</p><h3 id="market-outlook-crypto-set-for-a-transformative-period-under-new-administration">Market Outlook: Crypto Set for a Transformative Period Under New Administration</h3><p>The market’s response to the election reflects strong expectations for positive regulatory changes. With major assets like Bitcoin hitting new highs and a <a href="https://icogemhunters.com/bitcoin-hits-historic-75k-price-on-election-day-how-high-can-it-go/" rel="noopener noreferrer nofollow">Republican-led Congress</a> likely to support crypto-friendly policies, investors are optimistic about future growth.</p><p>As the regulatory landscape evolves, industry leaders are calling for a cooperative approach. Coinbase’s Chief Legal Officer Paul Grewal has urged the SEC to “start talking to crypto,” signaling a preference for dialogue over litigation. This new era in U.S. crypto regulations could bring substantial transformation, with major coins like Solana, Dogecoin, and Bitcoin leading the charge.</p><p><strong>Disclaimer:</strong> This article is intended for informational purposes only and should not be construed as legal, tax, investment, financial, or any other form of advice.</p><p><em>Souce: </em><a href="https://icogemhunters.com/solana-and-dogecoin-surge-amid-trumps-victory-whats-next-for-crypto/" rel="noopener noreferrer nofollow">ICOGemHunters</a></p>

Solana and Dogecoin Surge Amid Trump's Victory – What's Next for Crypto?

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