The launch of the USD1 stablecoin by World Liberty Financial, connected to Trump’s family, has set a new tone in the crypto market. The increase in stablecoin supply and growing interest in altcoins like XRP, Shiba Inu, and MAGACOIN Finance are drawing traders' attention.
Trump's USD1 Stablecoin
World Liberty Financial has minted $205 million of its USD1 stablecoin, raising the total supply to $2.4 billion. This significant increase comes after Federal Reserve Governor Christopher Waller praised stablecoins for their role in international payments. The SEC also supported actions related to the GENIUS Act, viewing them as a positive step forward.
XRP: Striving for Long-Term Utility
XRP continues to gain attention with upgrades to the XRP Ledger (XRPL) enhancing its potential for stablecoin use and payment systems. The number of wallets holding over 1 million XRP has reached an all-time high, indicating investor confidence. Clarity on several XRP ETF applications is anticipated, which could increase institutional interest.
Shiba Inu: Approaching a Breakout
Shiba Inu (SHIB) is poised for a breakout after a long consolidation period. Analysts suggest a potential surge of up to 528% if certain conditions are met, with the current price at $0.00001246 and substantial levels acting as hurdles.
The launch of the Trump family's stablecoin and the accompanying interest in XRP, Shiba Inu, and MAGACOIN Finance illustrate the shifting landscape of the cryptocurrency market. Traders may want to monitor developments and consider investment opportunities.
