Trump’s Crypto Push Ahead of 2024 Election

President Donald Trump has positioned himself as a supporter of cryptocurrency as he gears up for his reelection bid in November 2024. Since taking office, he has made it a point to sign multiple executive orders aimed at advancing the use of cryptocurrencies, stablecoins, and blockchain technology.

On August 7, Trump signed an executive order designed to broaden access to alternative investments, including cryptocurrencies, for those participating in 401(k) retirement plans.

Already in his second term, he has endorsed a bill that enables the U.S. to establish its own Bitcoin (BTCUSD) reserve and has permitted government ownership of various other digital currencies, or altcoins.

These moves have led to a general easing of regulations in the crypto space. Ongoing lawsuits, including one involving Ripple, have been resolved, signaling Trump’s continued camaraderie with key figures in the crypto industry. Notably, Coinbase (COIN) sponsored the 250th U.S. Army parade, while two of Trump’s sons and several close aides are actively engaged in the crypto world.

Recently, ALT5 Sigma made headlines by investing $1.5 billion in a crypto project by World Liberty Financial, a company associated with both Eric Trump and Donald Trump Jr.

For investors looking to capitalize on Trump’s recent executive order, here are three cryptocurrencies to consider, identified through Barchart’s Popular Coins screener.

1. Bitcoin Cash (BCHUSD)

Bitcoin Cash may not be on everyone’s radar, but it has shown impressive growth, nearly 400% over the last three years. Designed to tackle Bitcoin’s long transaction times—often exceeding 30 minutes—Bitcoin Cash offers larger block sizes and quicker confirmation times. While Bitcoin remains more popular, Bitcoin Cash has garnered a loyal following and can provide solid exposure if an altseason is approaching, bolstered by its $12.3 billion market cap.

2. BNB (BNBUSD)

BNB serves as the primary cryptocurrency for the Binance ecosystem and is integral to the Binance Exchange, the world’s largest crypto trading platform. After CEO Changpeng Zhao faced legal challenges and served four months in prison, Binance has demonstrated remarkable resilience through market fluctuations and significant fines. With the current regulatory environment under Trump appearing more favorable, BNB stands as a reliable option for long-term crypto exposure.

3. Unus Sed Leo (LEOUSD)

LEO is the native utility token for the Bitfinex exchange, functioning on the Ethereum blockchain. It offers holders various trading fee discounts based on their LEO holdings. Like other altcoins, LEO could benefit indirectly from growth in the crypto market sparked by Trump’s executive actions. The token’s stability, up 70% over three years, presents an opportunity for investors ahead of potential upswings.

As of the publication date, Omor Ibne Ehsan did not hold any positions in the mentioned securities. This article serves informational purposes only and was originally published on Barchart.com.