According to the available information Morgan Stanley the multinational bank is exploring opportunities to launch its crypto trading through its E-Trade platform.
According to finance experts, the move of the bank came following the historical victory of Donald Trump in the 47th U.S. presidential elections. It is worth noting the wider cryptocurrency market is expected to reach new heights, Trump will take oath as the president for the second time on January 20, 2025.
However the official announcement from Morgan Stanley is yet awaited, but a person aware of the fact argues that the bank might officially announce the same.
Crypto market to reach new heights under Trump’s administration!
After the victory of Donald Trump in the recent presidential elections of the United States, a statement from Trump is widely circulated in the market raising speculations of a clear set of rules for the digital asset market.
In a speech in July 2024, Trump promised Bitcoiners a change in the leadership of the Securities and Exchange Commission of the U.S.
Trump has shown support for cryptocurrency and associated items, particularly Bitcoin, at numerous of his rallies this year. According to market specialists, a Bitcoin reserve with a favorable set of regulations for the growth and advancement of the larger cryptocurrency sector is anticipated to be developed in the United States.
The rising popularity of blockchain and other blockchain-based technologies, which appear to be the most formidable competitors of national currencies and traditional banking, are some other key factors that might boost the rise of cryptocurrency in the upcoming years.
Not only Bitcoin but several other cryptocurrencies have outperformed reaching new heights, most recently Bitcoin succeeded in breaking its all-time high now ATH is $108k. XRP and Solana have also observed a drastic change in the prices in the past few weeks, especially in late November and early December.
In the mid of October and early November 2024, the crypto market capitalization was hovering just below the mark of $4 trillion, and traders and analysts speculated to achieve this milestone by March 2025.
Crypto Market Price Updates
At the time of writing the market capitalization of the cryptocurrency industry was 3.41 trillion US dollars with a trading volume of 113.73 billion US dollars.
Similarly, Bitcoin was trading at $96,683 with a tiny growth of 0.27 percent in the past 24 hours, however, XRP added 1.1 percent to its price reaching $2.42, and Solana trading at $212 with a loss of 1.21 percent.
The hourly gainer’s list has been topped by The Sandbox adding 5.80 percent trading at $0.6403, Gala grew 3.70 percent reaching $0.04217, and Hyperliquid trading at $23.62 after a surge of 1.1 percent.
According to Kiyosaki’s January 2 X article, Bitcoin is expected to increase by 80.5% to 26.1%, or between $175k and $350k, by 2025. With its current price of $96,952, Bitcoin has recovered from recent lows in the first few days of 2025 and is once again marginally up on the 30-day chart.
