Regulatory and Political Impact

- Trump’s Tariffs Hit Layer 1 and Meme Coins: President Trump’s new tariffs have disproportionately impacted Layer 1 blockchains (e.g., Ethereum, Solana) and meme coins, causing declines of over 20% year-to-date. Bitcoin $BTC and $XRP remain relatively stable due to their perceived utility .

- XRP’s Regulatory Clarity: Following the SEC dropping its appeal in March 2025, XRP’s price surged 335% YoY, buoyed by Ripple’s cross-border payment partnerships and network activity exceeding 2 million daily transactions . $SOL