- Crypto industry leads in U.S. election donations, outpacing oil.
- Bitcoin is predicted to surge to $150,000 by the end of 2024.
- Altcoins like Aave and Helium spike due to whale activity.
The crypto sector’s influence on the U.S. elections is surging. A recent analysis on the Altcoin Buzz YouTube channel highlighted how digital assets are reshaping both politics and the market.
The analysis referenced a CNBC report showing that nearly half of all corporate donations to the elections this year come from the crypto industry, outpacing traditional sectors like oil and banking.
Data from the watchdog group Public Citizen, cited by Altcoin Buzz, shows major contributors like Coinbase, Ripple, and Andreessen Horowitz have collectively donated over $146 million to the bipartisan Super PAC, Fair Shake. With $75 million already deployed, Fair Shake aims to sway key House and Senate races in favor of pro-crypto candidates.
Altcoin Buzz emphasizes that these contributions are intended to create a favorable regulatory environment for digital assets, leveraging broad, bipartisan appeal. The Super PAC’s funding strategy involves backing both Democrat and Republican candidates, targeting a balanced influence across party lines.
Altcoin Buzz also points to a bullish forecast for Bitcoin. Real Vision analyst Jamie Coutts predicts what he calls a “banana zone,” which could propel Bitcoin’s price to $150,000 by the end of 2024. This term, coined by Real Vision founder Raoul Pal, describes a rapid surge phase for Bitcoin.
Coutts noted that in past cycles, Bitcoin hit new highs within 365 days following local U.S. dollar index peaks, suggesting a potential surge to $150,000 from its current price of $64,000 if the pattern continues.
Altcoins are not left behind, with Altcoin Buzz highlighting major moves from Aave and Helium. Aave, a leading DeFi platform, recently moved to integrate BlackRock’s tokenized fund, BUIDL, into Aave’s Ghost Stability Module (GSM). This collaboration has attracted interest from crypto whales. Altcoin Buzz reports that a whale purchased over $10.4 million worth of Aave in less than 24 hours, driving a 30% price increase.
Helium (HNT), another altcoin covered by Altcoin Buzz, has also experienced a significant price surge. Ahead of a major community call scheduled for August 28, Helium’s price jumped 14% to $7.17.
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