From April 21 to 25, the virtual asset market recorded an upward trend due to U.S. President Donald Trump's comments on reviewing tariff reductions on China. The dinner event featuring Trump's meme coin, $TRIMP, along with the appointment of Paul Atkins, known as a pro-virtual asset figure, as Chairperson of the U.S. Securities and Exchange Commission (SEC), also contributed to the rise of altcoins. Experts forecast that economic indicators to be announced next week will serve as a critical turning point for further increases.
As of 4:30 p.m. on the 25th, the price of Bitcoin was $93,557, up 1.29% from 24 hours earlier. Compared to a week ago, this marked an increase of 10.72%. The Bitcoin price stayed at $84,000 on the 21st but surged to $94,000 within two days.
At the same time, the price of Ethereum was $1,774, up 12.19% from a week ago. During the same period, XRP rose 6.45% to $2.19, BNB increased 3.39% to $608.24, and Solana recorded a gain of 14.27% at $153.56. Notably, $TRUMP, along with Sui and STX, surged by 50-60%.
The fact that guidelines requiring banks to obtain prior approval from regulatory agencies to engage in virtual asset activities are being revoked has also positively impacted the virtual asset market. Following the announcement from the U.S. Federal Reserve, funds flowing into Bitcoin spot exchange-traded funds (ETFs) reached $380 million, the highest since January.
Notably, Federal Reserve Governor Christopher Waller's mention of the necessity for interest rate cuts also heightened expectations for a reduction in rates. Choi Seung-ho, an analyst at Jangle, noted, "Expectations for interest rates and regulatory easing are aligning, thereby strengthening the upward momentum in the virtual asset market," and added that the upcoming releases of macro indicators such as the Institute for Supply Management (ISM) Manufacturing Index and Personal Consumption Expenditures (PCE) Index could serve as a critical checkpoint for future increases.
◇ Pro-virtual asset Paul Atkins appointed SEC Chairperson
Atkins' appointment as the 34th SEC Chairperson on the 22nd has also heightened expectations for the virtual asset market. Atkins holds 1.4 billion won in stocks of corporations related to virtual assets, making him an ally of the industry. He promised a "clear regulatory framework," indicating a departure from the regulation-focused approach of Gary Gensler.
With Atkins' appointment, interest is concentrating on the review of 72 cryptocurrency ETF applications submitted to the SEC. The virtual asset market is highly optimistic about the possibility of ETF approvals. However, as Atkins holds assets related to virtual assets, a conflict of interest controversy is expected to arise. He previously served in an advisory role at the now-bankrupt cryptocurrency exchange FTX in 2022.
A Jangle representative remarked, "Atkins' leadership is expected to serve as a turning point in establishing the U.S. as a global cryptocurrency hub."
◇ Own $TRUMP and dine with Trump... 70% surge
President Trump's meme coin, $TRUMP, has also become a focal point of controversy. On the 23rd, Trump announced plans to host a private dinner for the top 220 holders of $TRUMP coins. The top 25 holders will even get to tour the White House. Following this news, the coin's price soared by over 70%.
However, the Trump family holds 80% of the coin supply, which is expected to heighten the conflict of interest controversy. This indicates that President Trump could have used his position to increase his personal assets. The virtual asset market is also engaging in heated debates over President Trump's actions.
A Jangle representative stated, "With the anticipated acceleration in regulatory clarification due to Atkins' appointment as SEC Chairperson, attention will be on whether a clear regulatory framework will be introduced in the meme coin market, such as $TRUMP, to reduce volatility risks and build institutional trust."
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Offers essential operational solutions and trust-based community building services for companies and foundations adopting Web3. Operating the crypto data intelligence platform Jangle, the research team is creating content to showcase trends in the virtual asset investment industry based on global virtual asset information and data.