Bitcoin Soars 40%: Is the Dollar's Dominance Under Threat?

Bitcoin's Meteoric Rise: A New Era for Cryptocurrency?

The Hill reports that Bitcoin has surged over 40% since the reelection of President Trump, sparking discussions about its potential to replace traditional currencies like the dollar. Senator Cynthia Lummis from Wyoming is advocating for a strategic bitcoin reserve at both state and federal levels, which she believes could hedge against inflation and maintain U.S. financial innovation leadership. However, critics caution against such moves due to Bitcoin’s notorious volatility and fear it might undermine the dollar's status as a global reserve currency.

XRP Set for Parabolic Growth by 2025

According to The Motley Fool, XRP has seen an impressive increase in value following recent political developments favoring cryptocurrency regulation under Trump's administration. Robinhood's inclusion of XRP on its platform is expected to boost retail investor exposure significantly. Additionally, anticipated spot ETFs and resolution of ongoing SEC litigation are likely catalysts for further growth in XRP's market presence.

Stellar Lumens Shines Amidst Crypto Market Surge

Crypto.news highlights Stellar (XLM) as one of this week's standout performers with a remarkable rally exceeding 190%. This surge follows news from the Federal Reserve considering Stellar technology for blockchain integration into their FedNow payment system. Meanwhile, Dogecoin continues its upward trajectory alongside Cardano reclaiming significant price milestones not seen since early last year.

NFT Sales Decline Despite Overall Crypto Boom

A report from crypto.news indicates that while Bitcoin nears $100k pushing overall market capitalization upwards, NFT sales have dropped by nearly 10%, totaling $160.9 million recently. Ethereum leads these declines followed closely by Bitcoin-based NFTs despite increased buyer activity suggesting shifting interests within digital asset markets during this bullish phase.

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