Market volatility is expected to be high ahead of White House Crypto Summit, 7 March.
This event hosted by the former US president Donald Trump, and David Sacks, a tech investor, will likely shape US regulations for taxing digital assets.
A 0% tax on capital gains for US issued cryptocurrencies is one of the hot topics. This could be a big boost for certain tokens.
Crypto analysts closely monitor how the new policy will impact on market dynamics. This is especially true for coins that have strong US connections.
Capo of Crypto is a well known analyst who has identified key altcoins which could be benefited from regulatory changes in the future and possibly price increases.
Altcoins you should be watching
Altcoins have been in the spotlight after Bitcoin dropped by 9% following Trump’s call for a crypto national reserve. Capo of Crypto identified several digital assets which could benefit from the policy announcements.
- NEAR Protocol: NEAR is known for its developer-friendly environment and scalability. It has strong links to US projects. Some traders still see it as an investment, despite a drop of 14% from the previous high.
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- Render (RENDER), a blockchain platform focusing on AI and 3-D rendering has been gaining traction on the US market. RENDER currently has a market capitalization of $1.8 billion, however, its price is down 15%. This could be a good opportunity to buy.
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- Constellation DAG: Due to government partnerships with this low-cap crypto, it has attracted attention. This could be a good position for the coin if regulations on cryptocurrency become more favorable. DAG has formed a bullish pattern as it approaches its $0.046 level of resistance.
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- Ethena: Ethena, a rising altcoin is priced at $0.34. This represents a 16% drop in price. Ethena has a market capitalization of $1.12 Billion. The innovative stake model, and the potential for growth of decentralised financial (DeFi) has helped it gain traction.
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- Solana: Trump’s Crypto Reserve includes Solana. This makes it an asset worth watching. SOL currently trades for $136. Any major regulatory announcements made at the summit will likely cause significant price changes.
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Trump-backed policies
The White House Crypto Summit is a forum for top crypto CEOs to discuss with policymakers and regulators.
The 1% capital gains tax proposed by Trump could result in a spike in the demand for US-linked cryptocurrencies like Ripple (XRP), Cardano(ADA), and Solana(SOL).
Foreign crypto projects, on the other hand, could be subject to a tax of 30%, which might affect investor perceptions towards digital assets outside the US.
The divide in crypto regulation between the US and other countries could lead to a market with two tiers, favoring those projects that have strong US ties.
Investors remain mixed
Market sentiment is divided as crypto traders position themselves in advance of the Summit. Investors are split on whether a US Crypto Reserve will drive institutional adoption or regulatory clarity.
Some remain wary, fearing potential tax changes may trigger capital outflows of non-US project.
Altcoins such as NEAR, RENDER DAG ENA and SOL will likely see an increase in volatility with only a few days left before the regulatory event. Traders are speculating on what may happen.
How policies are implemented and whether or not the US government adopts more crypto-friendly regulation will determine if these assets have the potential to capitalize on market reactions following the summit.
The post Crypto analyst selects the top altcoins to maximize gains can be updated as new information becomes available
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