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Donald Trump becoming the 47th President of the USA has had a positive impact not only on cryptocurrencies but also on crypto-related stocks. According to multinational investment bank Piper Sandler, this positive effect will continue in the future.
“At the start of the campaign, Trump announced his support for crypto and was widely considered the most crypto-friendly candidate,” bank analyst Patrick Molley wrote in a note to clients on Thursday. Since then, we’ve had a major shift in favor of crypto from both arms in DC, with over 200 pro-crypto candidates elected. “Given this shift, we expect comprehensive crypto legislation to be adopted and implemented in the coming quarters and believe that regulatory clarity will attract more mainstream players to the market. ” he said.
According to CNBC, the analyst also recommended a number of crypto-related stocks, assuming that the positive momentum in crypto will continue. Molly, Robin HoodHe emphasized that this is the most attractive option. According to Moley, once a comprehensive legal framework for crypto is established in the United States, Robinhood, which currently lists 15 tokens, should increase the number of tokens it offers for trading. will also expand its crypto services by introducing new products such as staking.
Moley, too CME Group This is also positive for its shares. The analyst predicts that the exchange, which offers 9 different options contracts based on BTC and ETH, will launch new contracts in the future, which will have a positive impact on the company’s shares.
Piper Sandler analysts also added Verto Financial to these stocks. Virtue FinancialStating that crypto has been quietly operating as a major traditional finance player in the space, Molly said, “As crypto’s presence in the traditional finance space grows, we think Virtu will be able to take advantage of this situation. It’s in a good position.” He says
Moley, the final exchange of powers CboeHe spoke. The analyst predicts that the exchange, which offers cash-settled bitcoin and ether contracts, will take part in the crypto boom.
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