Market Update
Is 2024 the Year Crypto Takes Over?! + USDC and USDT-backed Loans
01 Aug 20242min
Crypto Market Overview
So everybody’s favourite celebrity turned president came out in unadulterated support for crypto over the weekend. Quite simply, Donald Trump is a #BitcoinBull all of a sudden. His speech at Bitcoin2024 was met with understandable scepticism, mainly because, you know, not quite everything Trump says he actually goes through on. But the important part is to look at how far the crypto ecosystem has come, Bitcoin has gone from basements to a top Presidential Election policy.
Backflipping isn’t only reserved for the Olympians clearly because like Trump, Larry Fink (CEO of Blackrock) performed similar gymnastics when he launched the BTC ETF. Fink is also allegedly in line to take the Treasurer equivalent role of Trump’s cabinet if he were to win.
Ethereum is now also tradeable on the NASDAQ via ETFs which means crypto as a whole has gone from the deepest bear market of all time (it’s all over) to fully legitimised asset class on the largest stock exchange on Earth (we’re so back) in less than 12 months.
The end of 2024 is looking like it’ll be one to remember. Strap in, trade responsibly and always consult professionals for advice…not Tiktok.
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