Trump Goes All-In on Crypto

DAILY MARKET OVERVIEW
Trump’s Crypto Revolution Begins

👋 Hey Crypto Enthusiasts! A lot is unfolding in the crypto world today, let's dive right in!

🇺🇸 Trump’s Crypto Vision and WLFI Token

Donald Trump has officially entered the crypto scene! On Monday late at night, he revealed details about his new project, World Liberty Financial, alongside the launch of its governance token, WLFI.

• Trump, once skeptical about crypto, shared how his success with NFTs (over $7 million in earnings) changed his perspective.

He now sees cryptocurrency as the future, poised to leave traditional banks behind. His son, Donald Trump Jr., supported this sentiment, describing WLF as a step toward disrupting the lending market through decentralized finance (DeFi).

❓️ What’s WLFI and Its Potential Impact

World Liberty Financial aims to bring decentralized finance to the mainstream by offering lending and financial services on the blockchain.

The WLFI token will be non-transferable and available only to accredited investors due to regulatory uncertainties.

• It will be distributed with 63% going to the public, 17% for user rewards, and 20% for team compensation.

• The token aims to leverage DeFi, offering returns through stablecoins like USDC and USDT.

The real impact lies in how WLF could reshape lending: by offering higher yields on stablecoins like USDC and USDT through decentralized platforms, it could provide returns exceeding 5%, far surpassing traditional money markets.

If successful, this could trigger a shift in how lending and financial services are done, attracting more investors to the DeFi space.

This is significant as Trump is the first presidential candidate directly involved in crypto. If re-elected, it could result in clearer and more favorable regulations for the industry.

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TWITTER SENTIMENT
Ethereum Analysis

ETH recently hit a new low against Bitcoin, as noted by Analyst CredibleCrypto in his latest analysis. He believes the downside target for ETH/BTC has been reached, and we might see some relief soon.

• He's not planning to long buy ETH at this point, but he hopes that if Bitcoin rallies to the $61-62k range, ETH could experience an even stronger bounce.

• This would drive ETH/BTC higher, potentially offering a solid shorting opportunity if everything lines up correctly.

Following that, he expects one more decline across the market, pulling ETH/BTC back to range lows (setting up a higher low) and pushing ETH below $2100.

• Afterward, CredibleCrypto anticipates a major bounce across the board, which could lead to a substantial rise in ETH/BTC.

In the longer term, he foresees ETH/BTC dropping to new significant lows, ideally as Bitcoin breaks out and resumes a strong upward trend.

NEWS OVERVIEW
The Latest Crypto Headlines 📰 

DeFi Technologies Prepares for Nasdaq Listing After Strong Growth
DeFi Technologies, a Canadian crypto firm, is planning to list on Nasdaq after seeing a 275% stock increase this year

Trump Warns U.S. Crypto Startups Will 'Live in Hell' Without His Re-Election
Trump warns U.S. crypto startups will face harsh regulation if he's not re-elected, criticizing the SEC's approach under Gary Gensler.

WalletConnect Announces Airdrop of 185 Million WCT Tokens
WalletConnect is launching its native token, WCT, and will airdrop 185 million tokens to users.

MicroStrategy Selling $700 Million in Notes for Bitcoin Purchases
MicroStrategy plans to raise $700 million through a note sale to buy more Bitcoin and repay debt, continuing its aggressive Bitcoin accumulation strategy.

YOUTUBE INFLUENCER SUMMARY 📷️ 
Miles Deutscher - Honestly, Altcoins Are F*cked (17.09.2024 Summary)

Miles highlights serious issues in the altcoin market. Unlike previous cycles, the current one is flooded with new tokens, but demand can’t keep up, driving prices down. He notes that while 2021 saw a lot of capital entering the market, this time, there's less money coming in as the number of coins keeps rising.

• Insiders like founders and venture capitalists are launching tokens at inflated prices, aiming for quick profits rather than long-term growth.

• This, combined with regulatory pressures, is making it harder for regular investors to get in at fair prices, further hurting the market.

Despite this, Miles sees some opportunities. He recommends focusing on a few altcoins with strong communities, solid technology, and low dilution, such as Fantom. Meme coins in strong ecosystems might offer short-term gains but are risky.

His advice is to be selective and hold fewer altcoins to avoid dilution risks. Instead, concentrate on high-conviction picks in market leaders. While big gains may be less likely this cycle, careful choices and awareness of market trends can still lead to profits.

Jesse Eckel - Here's Where Crypto Is Going Next (17.09.2024 Summary)

Jesse predicts crypto’s future based on key factors like rate cuts and market cycles. Historically, rate cuts cause an initial dip but drive long-term gains. With another rate-cut cycle starting, Jesse sees this as a bullish signal, as liquidity from 2020 is still available and may flow into crypto.

• He also points to the four-year cycle, which has consistently predicted crypto trends, expecting prices to rise by late 2024 and peak in 2025.

• Bitcoin and Ethereum ETFs, along with liquidity cycles, could further boost prices.

Although crypto lacks a major innovation like DeFi, improvements in user experience and regulation are keeping it on track. Jesse also highlights a significant wealth transfer to younger generations, which could lead to more crypto investment.

While short-term dips are possible, Jesse is confident that strong fundamentals, liquidity, and demographic shifts will push crypto higher in the coming years.

CRYPTO MEMES

"When You Wake Up to Check Your Memecoins and They Still Haven't Mooned”