The latest report from 10X Research shows that trading activity has changed significantly since Trump's election. Although his inauguration is still seven weeks away, the early appointments already indicate a major shift towards crypto-friendly policies in the US government. We expect this trend to continue and potentially expand trading opportunities. Other governments, notably South Korea, are also taking a more crypto-friendly stance. As the US moves towards regulation (or deregulation) of cryptocurrencies, expect the world to follow this trend and usher in the popularity of crypto-friendly atmosphere. Alpha tokens in smaller crypto tokens are likely to continue to grow. Retail trading volume in the South Korean cryptocurrency market has surged to $18 billion in the past 24 hours, setting the second highest volume of the year and surpassing the $14 billion volume in the local stock market. Ripple (XRP) ranked first with $6.30 billion in trading volume, followed by DOGE ($1.60 billion), XLM ($1.30 billion), ENS ($900 million), HBAR ($800 million) and SHIB ($600 million). These highly volatile cryptocurrencies are driven primarily by retail traders, capitalizing on and reinforcing momentum-based trends. We see a relatively modest 15% annualized rate for Bitcoin funds, while South Korea's retail trading volume has soared to $18 billion, a record difference. Clearly, the current market focus is on counterfeit products.