Coinbase analysts maintain a positive outlook for the cryptocurrency market as 2024 nears its end, underscoring how economic and political shifts may drive growth in the coming months.
Key factors in this optimistic view include recent U.S. election outcomes, which could bring crypto-friendly policies, and the expanding role of memecoins on the Solana blockchain.
With the Trump administration set to take office in early 2025, analysts anticipate pro-business policies that may support economic expansion and higher risk tolerance, benefiting crypto investments. Coinbase analysts point out that increased deficit spending and a rising money supply could push investors toward digital assets.
The election results also saw substantial gains for pro-crypto candidates, with 263 in the House and 18 in the Senate, signaling the possibility of more favorable regulatory conditions for the industry.
In addition to political changes, Solana’s role as a “memecoin hub” has surged. The network has seen over three million memecoins launched on platforms like pump.fun, with these transactions accounting for more than 82% of Solana’s non-voting transaction fees. This popularity in memecoin trading has positioned Solana as the third-most profitable sector after stablecoins and layer-1 networks, driving significant network growth.
Looking ahead, Coinbase analysts believe 2025 could start strong for the crypto market as a combination of favorable U.S. policies, positive economic conditions, and growth in blockchain networks like Solana create a promising environment for digital assets.
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