BTC SIMPLIFIED

In the past week, we have witnessed significant changes that have shifted the crypto landscape. Many crypto investors speculated that Bitcoin’s dominance would persist due to the positive macroeconomic factors affecting the crypto environment. Trump’s pro-crypto policies are affecting the crypto landscape a great deal. He has invested into creating his own memecoin $TRUMP and it gained a large market cap of $15B in the first day. $TRUMP is powered by Solana technology and it has resulted in a price surge of the Solana altcoin ($SOL). Trump’s investment in memecoins and ignoring Bitcoin was met with criticism as you would suppose that he would invest in the latter asset for its dominance in the industry. People are now shifting their focus and beginning to invest in memecoins.

Memecoins value proposition relies upon ‘hype’. If a memecoin is introduced into the market and gets alot of recognition/hype especially in social media then its value will proportionately increase. Most people are now hopping on the ‘hype’ train with the hopes that they will reap good returns. The allegations are that there have been a few investors who have gained exponentially from memecoins as it promises ‘instant’ returns. In my opinion, I believe memecoins only benefit a few investors, and also it’s a short-term endeavor so it is not as advisable to invest in memecoins. Another avenue to avoid is referral networks that have digital assets. A good example is the Pi network where you are ‘mining’ for coins and you are also able to refer your network to the platform. There are also a number of referral platforms that I have explored e.g. Pi, Blum, Tomato, and all I can say is that they have ‘false’ value.

In other news, there is planned introduction of Altcoin ETFs. Analysts predict Litecoin, HBAR, Solana and XRP will be the next altcoin ETFs thanks to their non-security status. Litecoin is a fork of Bitcoin that is obviously a commodity. HBAR is recognized as a utility token by the SEC since 2019. What is a utility token you may ask? A utility token in the context of cryptocurrency refers to a type of digital asset that is primarily used to access a specific service or function within a blockchain-based platform or ecosystem. Utility tokens are designed to be used for their intended purpose within the network, often to pay for services, transaction fees, or to participate in certain activities within the platform. A good example is the BNB on the Binance platform used for paying fees and accessing various features within the Binance ecosystem. XRP and Solana are nearing resolution of SEC disputes, clearing the path of ETF approvals in 2025.

If these altcoins get approved for ETFs, it could legitimize them even more in the eyes of mainstream investors and institutions. Litecoin’s long-standing status, HBAR’s utility backing and resolution of XRP and Solana’s SEC issues could make 2025 pivotal year for altcoin adoption