Could American Manufacturing Become the New Trend in the Crypto Market? In-Depth Analysis of Five Related Coins

Recently, some political figures suggested that the United States should consider establishing a "crypto currency strategic reserve", which includes not only Bitcoin and Ethereum but also projects like Solana, Ripple, and Cardano. This statement caused a brief fluctuation in the market, especially with significant price increases for the latter three. However, this upward momentum did not last long, and the market quickly returned to the levels prior to the statement.

This event once again highlights the significant influence of political rhetoric on the crypto market. However, what is more noteworthy is the underlying "America First" concept. This concept is not only reflected in the field of encryption but also permeates multiple policy levels, such as the dialogue with the President of Ukraine and urging TSMC to increase its investment in the U.S.

In the future, policies related to cryptocurrency are likely to continue to revolve around the core of "America First". In light of this, this article will delve into five cryptocurrency projects closely related to the United States that may benefit from future policy dividends.

Chainlink (LINK)

Chainlink, as the most mainstream decentralized oracle in the encryption field, was founded by a team in the United States and provides key infrastructure for bringing off-chain data on-chain for blockchain. Recently, Chainlink collaborated with the U.S. securities custody and settlement company DTCC and ten U.S. financial institutions, including a large bank, to successfully complete a fund tokenization experiment called Smart NAV. This experiment demonstrated that traditional financial data can be seamlessly integrated into the blockchain through Chainlink, laying the foundation for large-scale asset tokenization in the future.

Chainlink is also actively involved in U.S. policy dialogue. At the end of February this year, the team held a closed-door meeting in Washington, inviting representatives from the U.S. government to discuss the impact of blockchain on the future of the financial system. This indicates that Chainlink has a unique dialogue channel at high levels of government.

In addition, Chainlink has also announced a partnership with certain DeFi projects to utilize its oracle technology to provide on-chain data and cross-chain services.

LINK, as one of the important infrastructures in the crypto market, not only leads in practical applications but also has an advantage in government relations and traditional financial adoption, consolidating its position as a "US-based" infrastructure coin.

• Market Cap: 8,789,128,324
• Market Cap Rank: 16
• Price change in the last 30 days: -39.5%

Ondo Finance (ONDO)

Ondo Finance is the leader in the current RWA sector, primarily engaged in bringing U.S. Treasuries on-chain and tokenizing them, allowing crypto users to gain returns from U.S. Treasuries.

A well-known encryption investment institution pointed out that tokenized platforms like Ondo are directly competing with traditional asset management giants, attempting to move over $20 trillion in US Treasury bonds onto the blockchain.

Ondo has launched an on-chain U.S. short-term treasury fund product named OUSG, with an asset management scale of approximately $229 million, and has collaborated with a large asset management company to bring OUSG into the DeFi ecosystem.

Recently, Ondo Finance partnered with a major payment giant to become the first provider of tokenized physical assets on its multi-token network. This collaboration enables institutions and businesses to invest directly in U.S. Treasury bills through blockchain, obtaining stable daily returns.

In terms of regulatory friendliness, a senior official once served as an advisor to a company collaborating with Ondo, and this relationship has led the market to anticipate that regulatory agencies may adopt a more open attitude towards compliant tokenization businesses like Ondo in the future.

At the same time, Ondo is also an investment target for certain DeFi projects, currently holding approximately 340,000 Ondo tokens, worth about $316,000.

As a leader in the RWA sector, Ondo stands out in terms of TVL and has close ties with traditional finance and the U.S. government, making its "Made in America" attribute evident.

• Market Cap: 2,896,135,618
• Market Cap Rank: 40
• Price change over the last 30 days: -31.1%

Hedera Hashgraph (HBAR)

Hedera is a public chain project founded in 2018, with its mainnet launched in 2019, characterized by low energy consumption and environmental friendliness. Hedera has attracted collaborations from numerous well-known technology and industrial giants, and recently announced its entry into the RWA market, launching an open-source toolkit for configuring, issuing, and managing tokenized bonds and stocks on its network.

In terms of RWA applications, Hedera has launched a carbon credit trading platform that can tokenize credit limits and convert them into encryption assets for use by businesses, governments, and individuals.

In 2023, the Federal Reserve of the United States included a micropayment platform based on the Hedera network in its list of service providers. The platform supports the use of HBAR as the transaction currency, and this move is seen as an official recognition of Hedera technology.

The Hedera team has always focused on compliance and has clearly expressed its desire to work with regulatory bodies to develop tools that assist businesses in fulfilling consumer protection and regulatory compliance obligations. Supported by large American enterprises, HBAR is seen as one of the cryptocurrencies with the most "American concept" attributes. The market generally believes that under a favorable policy environment in the United States, Hedera will have an easier time gaining opportunities for institutional adoption.

• Market Cap: 9,568,963,706
• Market Cap Rank: 13
• Price change in the last 30 days: -19.5%

Stacks (STX)

Stacks has its origins in the United States that can be traced back to its founding stage: In 2019, Stacks became the first encryption token project in U.S. history to be publicly issued with SEC compliance approval, pioneering compliant fundraising for crypto projects.

From a technical perspective, Stacks introduces smart contract functionality into the Bitcoin ecosystem, enabling users to develop DeFi, NFT, and other applications on the secure foundation of Bitcoin. As multiple U.S. states discuss incorporating Bitcoin into their financial reserves, and with federal-level attention on Bitcoin applications, projects like Stacks that emphasize integration with Bitcoin may benefit from the increased attention brought by Bitcoin's elevated status.

A friendly policy environment may encourage more innovative projects to develop in compliance in the United States, which is exactly the path that Stacks has been adhering to. STX, with its compliance background and technical features, precisely intersects with two key points of the current U.S. crypto narrative: legitimacy and the Bitcoin ecosystem.

• Market Cap: 1,030,949,384
• Market Cap Rank: 83
• Price change in the last 30 days: -43.1%

Stellar (XLM)

Stellar is a blockchain platform focused on cross-border payments and asset transfers, characterized by extensive collaboration with the U.S. financial sector. A typical case is an innovative fund launched by a major asset management giant in 2021, which is the first mutual fund approved by U.S. regulators to process transactions and record shares using a public blockchain.

The fund uses the Stellar blockchain to record shares and rebalance the investment portfolio, which includes low-risk U.S. government securities. This demonstrates the practicality of XLM in the compliant financial sector.

In addition, the Stellar Development Foundation (SDF) is quite active in the US political arena. They have extensive connections in Washington, D.C. and actively participate in lobbying and discussions in Congress regarding encryption and stablecoin legislation.

Therefore, if the United States introduces a favorable regulatory framework or incorporates blockchain into its financial infrastructure, the market attention and benefit opportunities for XLM will also significantly increase.

• Market Cap: 8,677,224,786
• Market Cap Ranking: 17
• Price change in the last 30 days: -27.5%

Conclusion: The crypto market is moving towards the narrative of American manufacturing

From the statements of political figures to the gradual improvement of the regulatory environment in the United States, "Made in America" coins are quietly becoming the new focus of the market. Chainlink, Ondo Finance, Hedera Hashgraph, Stacks, and Stellar, these five major tokens each have their own characteristics, with some connecting traditional finance, some promoting asset tokenization, some gaining recognition from enterprises and governments, and others bestowing new functionalities to Bitcoin. In the future, if the U.S. continues to release favorable policies, these crypto assets with American concepts may usher in a new wave of capital attention.