The crypto market has an exciting outlook as Trump’s pro-crypto SEC chair pick, Paul Atkins, has just been sworn in to lead the agency.
”Together we will work to ensure that the U.S. is the best and most secure place in the world to invest and do business,” said Atkins.
The new SEC chair is expected to take a softer stance on crypto regulation than the previous chair, Gary Gensler. The SEC has recently dropped several probes and enforcement actions against crypto firms that were initiated by the Gensler-led SEC.
Over 70 spot crypto ETFs are pending approval with the SEC, and Atkins’ leadership could also increase the likelihood of them being approved.
Crypto is gaining acceptance both from governments and major traditional financial institutions, which sets the foundations for strong capital inflows in the months and years ahead. With that in mind, what are the best crypto to buy now?
Solaxy
Solaxy is building the first-ever Solana layer 2 blockchain. Currently, Solana is the blockchain with the most activity. Over 80 million people have used the network this month, more than any other chain. Solana also leads the way in on-chain trading volume.
So if any ecosystem will see new features and apps created in light of a more welcoming regulatory environment, it’s Solana.
However, the network faces congestion issues, with transaction speeds decreasing and failure rates increasing in periods of high network activity. Solaxy is tackling this by handling some of Solana’s workload.
It will use rollup technology to compute transactions in batches, making the network cheaper, faster, and more reliable than Solana.
The project is undergoing a presale, which has raised a staggering $31 million so far. A staking mechanism is also live in the presale and currently offers a 130% APY.
Solaxy has a promising use case that could reshape Solana. Factoring in its early stage and staking rewards, it becomes clear that $SOLX presale buyers could generate massive returns.
Reserve Rights
Reserve Rights is a crypto making waves today with a 10% pump, and it’s because it’s closely linked to Paul Atkins. He was an early advisor to the project but didn’t maintain a connection afterward.
However, the fact that $RSR is pumping as Atkins is sworn in as SEC chair suggests that this could well be a budding narrative for the coming months.
Something worth considering is $RSR’s use case as a governance token for the Reserve Protocol stablecoin.
Interest in stablecoins is soaring, especially in the United States. Fed Chair Jerome Powell recently backed new stablecoin legislation to provide a clearer framework that could bolster state-level adoption.
Could it be that Reserve Protocol gains a deeper foothold in the market thanks to Atkins’ position?
Coinbase also listed Reserve Rights on its exchange today, which undoubtedly contributed to the recent rally.
Kaspa
Kaspa is a layer 1 blockchain that tackles the blockchain trilemma with a technology called BlockDAG.
The blockchain trilemma is a puzzle that engineers have grappled with since Satoshi Nakamoto designed Bitcoin in the 2000s. It’s the rule that blockchains must sacrifice security, scalability, or decentralization to increase the other two.
However, Kaspa’s BlockDAG mechanism allows blocks to be created in parallel, which negates the issue. Kaspa is capable of 3,000 transactions per second (TPS) while maintaining security and decentralization.
Kaspa is also among the best-performing cryptocurrencies today with an 8.5% pump. But while investors are showing interest right now, it remains at a huge 57% discount from its August 2024 all-time high (ATH). This provides plenty of room for growth, and its recent strength and robust use case indicate that it could well fulfil this potential.
It’s also worth noting that, at $2.3 billion, Kaspa’s market cap is relatively small in terms of layer 1 blockchains. There are currently eight layer 1s with a valuation over $20 billion, yet none of them have solved the blockchain trilemma.
