Treasury Secretary Pick Sparks XRP and ADA Price Rally in Crypto Markets
Hey there! Big news in the crypto world! President-elect Donald Trump has chosen Scott Bessent, founder of Key Square Group, to lead the US Treasury Department as the next Treasury Secretary. The crypto market is buzzing with excitement over this appointment, especially after Ripple CEO Brad Garlinghouse and Cardano founder Charles Hoskinson shared positive remarks that have given XRP and ADA prices a boost.
Scott Bessent has a strong background in finance, having worked at Soros Fund Management and started his own hedge fund. With his impressive resume, many in the crypto community believe that his appointment could lead to a bright future for XRP and potentially help resolve the SEC lawsuit.
XRP has seen a 56% surge in the past week and an 11% increase in the last 24 hours, with a trading volume of $19.29 billion. On the other hand, Cardano (ADA) has exceeded $1 for the first time since April 2022, rising by over 25% in the last 24 hours to reach $1.16. Its trading volume has also jumped by 150% to $6.7 billion, driven by speculation about a new blockchain-based voting system in the US.
Overall, the appointment of a crypto-friendly Treasury Secretary has created positive sentiment in the market, with many crypto enthusiasts eagerly awaiting to see who will be the next SEC chair in the upcoming administration. This is a significant moment for the crypto industry, as regulatory decisions will play a crucial role in shaping its future during the Trump presidency. Stay tuned for more updates and exciting developments!
