Ripple (XRP) is up 5% on Monday after US President Donald Trump announced pro-crypto Mark Uyeda as the new acting Securities & Exchange Commission (SEC) Chair. The announcement follows increased buying activity across XRP spot market and investment products.
Bitcoin (BTC) dived over 2% on Monday as President Donald Trump’s administration shared its most important priorities, which do not include crypto. The president also failed to mention crypto or Bitcoin during his inaugural speech. Meanwhile, Trump named Commissioner Caroline Pham and Commissioner Mark Uyeda as the acting Chair of the Commodities & Futures Trading Commission (CFTC) and Securities & Exchange Commission (SEC), respectively.
Ethereum (ETH) trades around $3,330 on Monday following the general crypto market decline stemming from traders’ reaction to Unites States (US) President Donald Trump’s failure to mention crypto during his inauguration. However, the top altcoin could be set for a positive year after the Ethereum Foundation allocated 50,000 ETH to the decentralized finance (DeFi) ecosystem in response to criticisms surrounding its selling activity.
