The cryptocurrency community displayed optimism when Donald Trump selected Sen. J.D Vance as the US vice presidential nominee.
Both Trump and Vance continue to position themselves as cryptocurrency-friendly candidates in the upcoming US general elections.
The digital assets sector has showcased stability amid the ex-president’s election campaign. In fact, Trump’s campaign continues to receive millions in crypto donations.
And guess what? Amid the ongoing optimism and Bitcoin reclaiming $65K, the Avalanche (AVAX) community has even more bullish news.
Crypto analyst RamenPanda has revealed that Trump’s running mate holds AVAX worth over $70.47 million, making him the fifth largest Avalanche holder.
United States Vice President JDVance is the 5th largest holder of $avax #avalanche
You know what to do pic.twitter.com/5czsmH4okM
— RamenPanda (@IamRamenPanda) July 16, 2024
This essentially means the Ohio Senator has 0.654% of AVAX’s circulating supply on his investment portfolio.
Besides revealing Vance’s love for digital assets, the revelations confirm his confidence in Avalanche’s future performance.
Crypto under Trump’s leadership
The former president of the United States has been pro-crypto lately, and many believe his victory will be a huge win for digital assets.
The crypto market reflects this optimism with surged prices as investors await Trump’s appearance at the upcoming Bitcoin conference.
See Donald Trump at #Bitcoin 2024!
✨ Saturday, July 27th, at 2 PM on the Nakamoto Stage✨ pic.twitter.com/DLaaVyH1Wk
— The Bitcoin Conference (@TheBitcoinConf) July 16, 2024
Meanwhile, experts believe a crypto-friendly vice president will work with Donald Trump to create a lucrative environment for the cryptocurrency industry in the US.
Vance has displayed his support for the digital currency sector in various incidents.
For instance, he voted against the SAB 121 policy, which makes it challenging for financial companies to offer custody to crypto.
JD Vance, potential Vice President under Trump, is a vocal advocate for cryptocurrency. He voted to repeal SAB121 and holds over $250k in bitcoin. His public criticism of Gensler highlights the Trump administration’s pro-crypto stance. pic.twitter.com/bCfYZgGL2m
— Adam Poe (@AdamPoe51867843) July 16, 2024
Furthermore, Vance has criticized the US SEC for handling matters related to digital assets.
Sen. Vance revealed that he had Bitcoin worth $250,000 in 2022. He had also introduced a bill to regulate banks and avoid discriminating against cryptocurrency companies.
Cryptocurrency investors and traders have longed for a decisive regulatory framework for digital assets over the past years.
Many believe Trump’s leadership will create a regulatory atmosphere where digital currencies will flourish.
AVAX’s current price outlook
The altcoin maintained a bullish stance at press time, trading above the $28.18 price mark.
AVAX 1D Chart on Coinmarketcap
AVAX’s gained 4.07% over the past 24 hours, and the impressive daily trading volume cements its upside stance.
The impressive recovery comes as the broad crypto sector displays recoveries.
Bitcoin jumped past the $65K mark the previous day before a slight decline pegged it at $64,808 during this publication.
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