In the first 100 days of Trump's new term, domestic cryptocurrencies in the United States performed disappointingly.
Since January 20, five major U.S. related assets have fallen by at least 20%. Although the government has adopted a more crypto-friendly attitude and introduced some regulatory relief measures, the situation has not improved.
In contrast, non-U.S. domestic cryptocurrencies like Bitcoin and TRON have performed better.
Reasons for the poor performance of domestic cryptocurrencies:
• Gap between market expectations and reality: Trump's election and promises once led to a surge in the cryptocurrency market, but he later failed to fulfill expectations of using fiscal funds to purchase Bitcoin, leading to a cooling of market enthusiasm and a drop in cryptocurrency prices.
• Hacker attacks affect confidence: In late February 2025, the Bybit exchange was hacked, and a hacker stole over $1.4 billion worth of Ether, which dampened investor confidence and impacted the cryptocurrency market, particularly affecting domestic cryptocurrencies in the U.S.
Reasons for better performance of non-U.S. domestic cryptocurrencies:
• Advantages of decentralization: Non-U.S. domestic cryptocurrencies like Bitcoin emphasize decentralization and are relatively less affected by the policies of a single country. When facing policy pressures from the U.S., they can leverage their globally distributed characteristics to maintain a certain level of activity and value support in markets of other countries and regions.
