Cryptocurrencies Mixed Under Trump's First 100 Days, With "Made in USA" Assets Taking a Beating
Performance of 'Made in USA Coins' During Trump's Initial 100 Days as President
In a surprising turn of events, the leading US-linked cryptocurrencies have plummeted by at least 20% since Trump's inauguration, even with his administration's alleged pro-crypto stance and recent regulatory relief. This stark contrast highlights broader policy pressures that might be dampening the effects of domestic crypto reforms.
In comparison, non-US coins, such as Bitcoin and TRON, have exhibited greater resilience. Ethereum and Dogecoin have faced steep losses, but they're faring better than their American counterparts.
The Struggled "Made in USA" Coins
Solana, ADA, LINK, XRP, and SUI—the top five US-linked assets, have all taken a hit. Solana is the worst performer, dropping over 41%, despite a 18% gain in the past month. SUI, on the other hand, has rallied 58% in the same period, owing to strong meme coin trading and DEX volume.
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The Resilient Non-US Coins
After a steep drop, Ethereum and Dogecoin have lost more than 43% and nearly 51%, respectively. But, Bitcoin has only dipped 6%, and BNB has slipped by almost 12%. Short-term trends show a more balanced picture, with Bitcoin increasing nearly 16%, while DOGE, BNB, and ETH remain largely unchanged.
TRON is the only top coin outside the US-linked group that has posted gains over both timeframes, rising 7.5% in the last 100 days. The broader group of global assets has generally fared better than Made in USA coins, despite heavy losses in ETH and DOGE, many of which have fallen more than 20-40% in the same timeframe.
While US-regulated cryptocurrencies may gain from policy improvements, macro and policy-specific headwinds could weigh on domestic crypto assets. Asset selection remains crucial in a market influenced by both regulatory and market dynamics.
Pro-Crypto Stance, Yet Mixed Results for US Coins:
Several factors might account for the contrasting performance of US-centric cryptocurrencies versus decentralized ones:
- Regulatory Burden: The administration's pro-crypto stance may disproportionately advantage established global cryptocurrencies and projects with pre-existing liquidity due to ongoing regulatory scrutiny for US-centric projects under evolving frameworks.
- Market Forces and Speculation: Announcements like the strategic crypto reserve may temporarily boost asset prices, but profits might not translate into sustained gains or a positive impact on smaller US projects.
- ESG and Banking Policies: The administration's anti-ESG stance and anti-deregulation rules could create a more hostile environment for crypto projects linked to progressive causes, while favoring ideologically neutral assets like Bitcoin.
- Investor Favoritism for Liquidity: During policy-driven market volatility, investors tend to back high-liquidity assets rather than niche regional projects. The strategic reserve's selection criteria likely prioritized market cap and stability, thus perpetuating the marginalization of smaller US coins.
- TRON's Strategic Edge: TRON, despite regulatory challenges, gains from its global adoption, ecosystem activity, and backers linked to Trump's associates. Operating beyond strict US oversight, TRON may have a competitive advantage over US-domiciled projects.
- Despite the administration's pro-crypto stance, leading US-linked cryptocurrencies, such as Solana, ADA, LINK, XRP, and SUI, have experienced significant drops, with Solana falling over 41%.
- Contrasting these losses, decentralized cryptocurrencies like Bitcoin and TRON have shown greater resilience, even in the face of Trump's first 100 days.
- Ethereum and Dogecoin have faced steep losses, down more than 43% and nearly 51%, respectively, but they're fairing better than their American counterparts.
- Bitcoin, with only a 6% dip, and BNB, losing almost 12%, have exhibited more stability than US-linked coins, with short-term trends showing nearly 16% growth for Bitcoin.
- TRON, in particular, is the only top coin outside the US-linked group to post gains, rising 7.5% in the last 100 days.
- The broader group of global assets, including Ethereum and Dogecoin, has generally fared better than Made in USA coins, despite heavy losses.
- It's possible that ongoing regulatory scrutiny of US-centric projects, under evolving frameworks, is disproportionately affecting the performance of US-linked cryptocurrencies.
- Investor favoritism for high-liquidity assets, such as Bitcoin and TRON, during policy-driven market volatility might also be a factor.
- Asset selection remains crucial in the crypto market, given its sensitivity to both regulatory and market dynamics, as well as factors like ESG and banking policies, and strategic partnerships.
