🌎 Crypto Market Sees Green Ahead of Trump Summit

Crypto Market Sees Green as Trump Prepares to Host Inaugural Crypto Summit

On Saturday, the cryptocurrency market experienced a surge, with Bitcoin and most altcoins turning green. This shift in market sentiment is attributed to the upcoming inaugural crypto summit, set to be hosted by President Donald Trump.

Bitcoin Price Update

Bitcoin rose to $85,000, marking an 8.5% increase from its lowest level this week. The total market cap of all cryptocurrencies also saw a significant jump, reaching $2.8 trillion. At the time of writing, Bitcoin was trading at approximately $84,600, up 2.1%.

Top-Performing Cryptocurrencies

Some of the top-performing cryptocurrencies included:

Hedera Hashgraph, with a gain of over 15%
Celestia, also rising by over 15%
Official Trump, Stellar Lumens, and Sonic, all experiencing significant gains

Trump’s Crypto Summit: What to Expect

The inaugural crypto summit, scheduled to take place next Friday, is expected to feature officials from the Treasury Department and a team from the crypto and AI office led by David Sacks and Bo Hines.

Attendees

Top leaders in the crypto industry, including the heads of exchanges like Coinbase, Gemini, and Kraken, are likely to attend. Other potential attendees include leaders of popular US-based cryptocurrencies like Cardano‘s Charles Hoskinson, Stellar‘s Jed McCaleb, Ripple‘s Brad Garlinghouse, and Ondo Finance‘s Nathan Allman.

Elon Musk, who is leading the Department of Government Efficiency, is also expected to attend. As a prominent crypto backer, Musk’s presence could have a significant impact on the summit’s discussions.

US Government and Crypto Regulations

The US Securities and Exchange Commission has ended some litigations involving companies like Uniswap, Coinbase, and Gemini, following the resignation of Gary Gensler as chair.

As Trump considers establishing a US Bitcoin reserve, there is a likelihood that Bitcoin and other altcoins will experience a rally ahead of the summit.