It can be tempting to FOMO on good coins hitting all-time highs, but for higher returns, traders should consider newer tokens with high utility and potential.
Although Bitcoin will likely continue to rise in the long term and is currently just below its all-time high at $104,229, for new entrants the upside potential is still limited. Similarly, after the SEC cabinet change to a new pro-crypto cabinet was announced, XRP has soared approximately 450% since the election.
Bitcoin Hits $105,000, But Is the Cap Near?
Just as history predicted, Bitcoin entered a new bull run after the BTC halving in 2024. The new US government also played a big role in this, with Trump legitimizing crypto and encouraging common people to use DeFi and cryptocurrencies.
While BTC has struggled to maintain the psychological threshold of $100,000, it has broken the milestone in recent days. $103,250 is now a key resistance level that can change to support if Bitcoin can consecutively close above this level.
BTC is currently trading at $104,229, down slightly from its Monday high of $105,815, and some expect a temporary pullback. But to what extent and for how long? That remains to be seen.
With over 60% of Binance users currently selling Bitcoin, now is not the time to make a move on BTC, but rather to wait and see which way the market will move.
Although BTC may reach $200,000-$500,000 later in this bull cycle, returns from other newer assets could be greater.
Ripple’s victory in sight? All eyes on the SEC
XRP is a sleeping giant in the crypto world, battling the SEC for years.
With pro-crypto Paul Atkins set to succeed SEC Chairman Gensler in January, there is much anticipation about whether the SEC will pursue its appeal against Ripple’s legal victory, by the January 15 deadline .
However, everything currently depends on the position of Caroline Crenshaw, anti-crypto commissioner of the SEC. A reappointment vote is scheduled for Wednesday and, if things go the right way, Republicans could gain a majority in the SEC. This would mean that the appeal against XRP would be dropped. Otherwise, Bob Mason predicts that XRP could return to $1.
Separately, XRP fans were disappointed to learn that Ripple’s upcoming stablecoin RLUSD is currently trading above the $1 level at $1.23.
The Ripple team informed people on X that the market would stabilize soon and would not invest in RLUSD at the current price.
What’s next for crypto and DeFi?
While Bitcoin is the foundation of crypto, XRP, now the third largest crypto by market cap, is one of the first DeFi coins.
While Ripple has suffered from regulatory setbacks over the years and is only now reaching its full potential, other DeFi coins have seen huge success over the years and into 2024, including Ripple’s borrowing and lending platform. first order Aave.
This will likely continue under the Trump administration, with Donald Trump and his family associated with World Liberty Financial’s “Be DeFiant” project.
This project aims to involve people in the future of DeFi by voting on proposals and potentially offering exclusive partnerships to WLFI holders.
Can Elluminex unlock TON’s DeFi potential?
Elluminex, a new project has a similar goal: facilitating DeFi on one of the most promising blockchains in crypto – TON.
As TON is built on Telegram, it has the potential to introduce Telegram’s 950 million user base to crypto. But for this to succeed, TON’s user experience needs to improve.
Right now, using TON for DeFi is like using DeFi in 2021. Although this DeFi summer 2021 saw many new users coming to DeFi, things were difficult to find and understand, and most of the Users relied on word of mouth to find out where to trade and bet. , and receive high returns on their crypto.
Elluminex plans to change that by creating a full-fledged DeFi ecosystem, with all the tools people could need, in one easy-to-use place – and with a sleek user interface.
Elluminex users will be able to take advantage of advanced DEX features to pool and bring new liquidity to TON, making swaps easy and cheap and increasing the ease of trading on TON.
Importantly, Elluminex will also help people move their money in and out of TON via their cross-chain bridge, which is currently very confusing to do.
With many other useful features in the works, including AI-powered portfolio tracking and a learning portal, Elluminex will be a complete DeFi solution for anyone looking to deepen their knowledge of TON.
With the ELX presale about to launch, the earning potential could be similar to acquiring BTC or XRP when they were much newer.
For more information on Elluminex (ELX), visit the links below:
Website: https://elluminex.com/
Twitter/X: https://x.com/elluminex
Telegram:
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