The CoinSpeech team has curated the most significant points from Ivan on Tech’s recent appearance, illustrating the intertwining of politics and cryptocurrency. Below, you can find Ivan on Tech’s new video as well.
Current Bitcoin Market Status
Bitcoin remains largely unchanged, maintaining a “sideways” trajectory in the market. Despite its stagnation, the overall landscape is evolving rapidly.
Political Landscape Impact
A major political shift has taken center stage with former President Trump being convicted as a felon. Ivan stated, “Trump obviously said that this is all a fugazi, it’s a disgrace.” This controversy is deeply polarizing, with half of his audience celebrating and the other half denouncing it as a politically motivated action.
Meanwhile, current President Biden has surprisingly shifted his stance on cryptocurrency. Just a few months ago, he was critical, saying, “crypto millionaires are taking money from the single moms.” However, recently, Biden has expressed a newfound appreciation for crypto. Ivan explained, “Now he wants to make love basically because Trump did it first.”
Crypto’s Growing Influence
Ivan revealed how both political figures are racing to capture the crypto community, which consists of around 50 million Americans. He emphasized that this demographic is largely youthful, making it a critical voter base for future elections. “If Democrats are to have any future, they have to support crypto,” Ivan stressed.
Peppa’s Rising Popularity
While many altcoins face a “bit depressed” market, Peppa coin is defying the odds. Ivan highlighted, “Peppa is the only thing that is doing so well, look here new all-time high.” The unprecedented trading volume for Peppa has triggered discussions about future ETFs, potentially surpassing established cryptocurrencies like XRP.
Will Peppa Coin Get an ETF?
The volume of Peppa even outstrips XRP, leading Ivan to ponder, “Why the hell should Peppa not get an ETF when XRP has one?” This highlights that trading volume and profitability might be more crucial than use cases when considering ETF approvals.
The meme coin market itself is astonishingly large, comprising a significant percentage of the total crypto market. “Memes are like 30% of the market cap of crypto if you exclude Bitcoin and like stable coins,” said Ivan, adding more weight to Peppa’s potential inclusion in mainstream financial products.
Conclusion
In wrapping up his overview of the current crypto scene intertwined with political intrigues, Ivan expressed optimism about a future breakout for Bitcoin, stating, “Sooner or later is going to be sooner or is going to be later.” Until then, Wall Street’s acceptance of crypto is growing steadily, awaiting that much-anticipated market surge.