WOO X Research: Is American manufacturing a guarantee of appreciation? A review of the ties between five currencies and the United States

Written by: WOO

Trump recently said that the United States will consider establishing a "strategic cryptocurrency reserve" in the future. It is not surprising that BTC and ETH are included, but it is worth noting that SOL, XRP, and ADA are also included. The overall crypto market soared in response, and the highest increase was among the "three American giants" SOL, XRP, and ADA, which gave the overall crypto market a shot in the arm during the downturn, but unfortunately the sustainability was poor, and the overall market fell back to the starting point of $83,000 for Bitcoin before Trump's speech.

The cryptocurrency market has been like a roller coaster in the past few days, with sharp rises and falls. Trump's speech has a profound impact on the price of cryptocurrencies, but in fact, the more important concept behind it is America First. Trump's concept of America First is not only applicable to the cryptocurrency market, but also runs through his core goals as president. From his conversation with Zelensky to his request for TSMC to increase investment in the United States, all of these actions are based on the logic of America First.

Back to the cryptocurrency circle, I believe that in the future, when Trump makes remarks related to cryptocurrencies, he will still focus on the premise of "America First". Therefore, this article will take stock of five currencies that have close ties with the United States and ambush projects that may benefit from political dividends in the future.

Chainlink (LINK)

Chainlink is the most mainstream decentralized oracle in the crypto space. It was founded by an American team and isBlockchainProviding major infrastructure for off-chain data to be on-chain. Recently, Chainlink, the US Securities Depository and Clearing Corporation (DTCC), Chainlink, and ten large US financial institutions including JPMorgan Chase completed a fund tokenization experiment called Smart NAV, successfully publishing the key data of mutual funds to the blockchain through the Chainlink cross-chain interoperability protocol CCIP.

This experiment proves that traditional financial data can be seamlessly connected to the blockchain through Chainlink, paving the way for the tokenization of large assets in the future. As American financial institutions begin to embrace blockchain technology, Chainlink, as a leading oracle, will become a bridge between traditional finance and the crypto world.

In addition to its connection with traditional U.S. finance, Chainlink also frequently participates in U.S. policy dialogues. At the end of February this year, the team held a private meeting in Washington, D.C., inviting U.S. government representatives to discuss the impact of blockchain on the future of the financial system. This also means that Chainlink has the space to actively dialogue with senior U.S. government officials, which is different from other cryptocurrency projects in terms of network strength.

In addition, Chainlink also announced a partnership with Trump-backed DeFi project WLFI (World Liberty Financial) to use its oracle technology to provide on-chain data and cross-chain.

As one of the most important infrastructures in the cryptocurrency world, LINK itself has stronger practical applications than other projects. Coupled with its connections with the U.S. government and its adoption by traditional finance, Link’s position as an “American” infrastructure coin is difficult to shake.

• Market value: 8,789,128,324

• Market capitalization ranking: 16

• Change in the past 30 days: -39.5%

Ondo Finance (ONDO)

Ondo Finance is the leader in the current RWA track. Its main function is to put U.S. Treasury bonds on the chain and tokenize them, so that crypto users can also enjoy the yield of U.S. Treasury bonds.

Pantera, a well-known crypto investment institution, pointed out that tokenization platforms like Ondo are competing head-on with Wall Street institutions such as Franklin Templeton and BlackRock, trying to move more than $20 trillion of U.S. Treasury bonds to the blockchain.

In fact, Ondo has launched an on-chain U.S. short-term Treasury bond fund product called OUSG, with an asset management scale of approximately US$229 million, and has cooperated with BlackRock and Securitize to introduce OUSG into the DeFi ecosystem.

In addition to working with traditional asset management companies, Ondo Finance recently partnered with credit card giant Mastercard to become the first service provider of tokenized physical assets on its Multi-Token Network (MTN). This collaboration allows institutions and companies to invest directly in U.S. short-term Treasury bonds through blockchain and earn stable daily returns. For U.S. investors, ONDO's appeal lies in its combination of the robustness of traditional U.S. fiscal instruments (such as Treasury bills) and the efficiency of cryptocurrencies, which means that Ondo not only has innovative technical solutions, but also has the support of traditional financial giants.

In terms of regulation and government friendliness, Paul Atkins, the new SEC chairman nominated by Trump, once served on the advisory board of Securitize, a company that cooperated with BlackRock and Ondo to promote the tokenization of securities. This personal connection has led the market to expect that US regulators will be more open to compliant tokenization businesses such as Ondo in the future.

At the same time, Ondo is also the token purchased by WLFI (World Liberty Financial), a DeFi project supported by Trump. It currently holds 340,000 Ondos with a total value of approximately US$316,000.

As the leader of RWA, Ondo has the largest TVL in the data. It has close ties with the US government in traditional finance and is one of the few currencies held by WLFI. The relevance of Ondo as "Made in the USA" is difficult to deny.

• Market value: 2,896,135,618

• Market capitalization rank: 40

• Change in the past 30 days: -31.1%

Hedera Hashgraph (HBAR)

Most users are unfamiliar with HBAR, which is an old project from the previous cycle. It was founded in 2018 by Dr. Leemon Baird and Mance Harmon. The mainnet was launched in 2019. It is an old public chain that focused on low energy consumption and environmental protection at the time. Hedera has also attracted many well-known Web 2 partners and customers, such as Google, IBM, Boeing, LG, Tata, etc. Recently, it also announced its entry into the RWA market and launched an open source toolkit for configuring, issuing and managing tokenized bonds and stocks on the Hedera network.

In terms of RWA applications, they launched the DOVU carbon rights trading platform, which can tokenize credits and convert them into crypto assets for use by businesses, governments and individuals.

In 2023, the U.S. Federal Reserve's instant payment system FedNow will include Dropp, a micropayment platform based on the Hedera network, as a service provider. Dropp allows merchants to accept small payments and supports the use of HBAR as a transaction currency. It is even included as part of the official payment ecosystem. After the news came out, the price of HBAR once soared, reflecting the market's optimistic expectations for the relationship between Hedera and the U.S. government. In addition to FedNow, HBAR is also seen as one of the currencies that may benefit from the improvement of the U.S. regulatory environment.

The team has attached great importance to compliance from the beginning and has made it clear that it hopes to work with regulators to develop tools to assist companies in fulfilling their consumer protection and regulatory compliance obligations. With the participation and support of large American companies, HBAR is regarded as one of the most "American" cryptocurrencies. The market generally believes that under the friendly policy environment of the United States, Hedera will be more likely to gain institutional adoption opportunities. For example, some analysts pointed out that the US SEC is very likely to approve multiple crypto spot ETFs including HBAR, which will become a catalyst for the development of the Hedera ecosystem.

• Market value: 9,568,963,706

• Market capitalization ranking: 13

• Change in the past 30 days: -19.5%

Stacks (STX)

Stacks's roots in the United States can be traced back to its founding stage: as early as 2019, Stacks (formerly known as Blockstack) was the first crypto token project in U.S. history to be issued to the public with SEC compliance approval, creating the first case of compliant fundraising for a crypto project.

This means that STX has been highly consistent with the US regulatory system since its inception, and is hailed by the industry as a "positive teaching material" compliance model. From a technical perspective, Stacks brings smart contract functions to the Bitcoin ecosystem, allowing users toSafetyDeFi, NFT and other applications are carried out on a flexible basis. As several states in the United States discuss the inclusion of Bitcoin in fiscal reserves and the federal level pays attention to Bitcoin applications, projects like Stacks that emphasize integration with Bitcoin may benefit from the attention brought by the improvement of Bitcoin's status.

The Trump administration’s friendly policies may encourage more innovative projects to develop in compliance with regulations in the United States, which is exactly the route that Stacks has been taking. STX, with its compliance background and technical features, just hits the two main points of the current US crypto narrative: legality and Bitcoin ecology.

• Market value: 1,030,949,384

• Market capitalization ranking: 83

• Change in the past 30 days: -43.1%

Stellar (XLM)

Stellar is a blockchain platform that focuses on cross-border payments and asset transfers, and is characterized by its extensive cooperation with the U.S. financial circle. One example is that asset management giant Franklin Templeton launched an innovative fund in 2021 - the first mutual fund approved by U.S. regulators to use a public blockchain to process transactions and record shares.

The fund uses the Stellar blockchain to record shares and rebalance its portfolio, which includes low-risk U.S. government securities. In other words, XLM helps traditional Wall Street investment products to be put on the blockchain and maintain operations, proving its feasibility in the field of compliant finance. In addition, the Stellar Development Foundation (SDF) is also quite influential in the U.S. political arena.Xiaobai NavigationActive. They have many connections in Washington, DC, and actively participate in lobbying and discussions on cryptocurrencies and stablecoin bills on Capitol Hill.

Therefore, if the United States introduces a favorable regulatory framework or incorporates blockchain into its financial infrastructure, XLM's market attention and chances of benefiting from it will increase significantly.

• Market value: 8,677,224,786

• Market capitalization ranking: 17

• Change in the past 30 days: -27.5%

Conclusion: The cryptocurrency world is moving towards a narrative melody made in the United States

From Trump's order to the gradual warming of the US regulatory wind, "Made in the USA" cryptocurrencies are quietly becoming the new focus of the market. Chainlink, Ondo Finance, Hedera Hashgraph, Stacks and Stellar, these five major tokens have their own characteristics, some of which build bridges to connect traditional finance, some promote asset chain, some are recognized by enterprises and governments, and some give Bitcoin new functions. If the United States continues to release favorable policies in the future, these American concept coins may usher in a wave of funds.

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