Welcome, this is The Crypto Explorer, your crypto tour guide.

With election day quickly approaching and polls indicating a close race between Trump and Biden, will support for crypto significantly impact the election outcome?

Here’s what we got for you today:

• 🤔 Could Crypto Decide the Next Presidential Election?

• 🤯 Ethereum's gas fees hit record low!

• 🧱 Around The Block: Bitcoin to hit $100K by US election day, Standard Chartered predicts.

 🤔 Could Crypto Decide the Next Presidential Election?

Election is around the corner, and you know what that means - big promises and high stakes!

Donald Trump isn’t a stranger to any of this, but did you know he's also pro-crypto? (Well, that's if we don't count the years he spent criticizing the space 😀).

He has his own NFT project, hosted crypto events, and made millions since fully entering the space in 2022.

But guess what?

He's making a big move that may affect the outcome of the upcoming election!

Reports say that Trump is working with Bitcoin Magazine CEO David Bailey on a pro-crypto policy agenda.

It's not clear at the moment, but it seems to be a detailed executive order that Trump will sign right after taking office if he wins.

But that’s not all!

Bailey is even aiming to raise $100 million for Trump's campaign to ensure the next President of the United States is pro-bitcoin!

He also says that a Trump victory could kickstart a "Bitcoin space race," positioning the U.S. as a leader in the crypto world.

While he might be overhyping things a bit, having a pro-crypto president won’t be bad at all. 😀

Crypto voters seem to be so crucial in this election that reports suggest that President Biden may also be considering softening his stance on crypto to appeal to them.

But as we should all know by now, putting all your faith in a politician's promises, especially during an election, can be risky.

You can find the full details here — It's definitely worth reading! Oh, and there's also a Forbes article with the opposite view, it's titled “Why Crypto Voters May Not Decide The 2024 Presidential Election.” 

That's worth checking out, too. Mind-blowing, isn't it? 🤯

🤯 Ethereum's Gas Fees Hit Record Low!

Ethereum is known for its high gas fees, but can you believe that they've dropped to around 3 gwei (equivalent to a fraction of a US cent) — the lowest since 2016!

It's a dramatic change from the sky-high 100 gwei we saw during peak periods in 2021.

So, what's behind this sudden drop?

Analysts think it's due to recent network upgrades and the decrease in overall network activity, possibly because of a broader crypto market slump.

Or is the decreased activity because everyone is on Layer 2s, as a Reddit user pointed out?🤔

Whatever the reason, lower fees are great news for everyone!

It makes the Ethereum network more appealing for developers looking to deploy decentralized applications (dApps) and makes it easier for new users to jump in.

However, some experts warn that prolonged low fees could affect network security, as the fees incentivize miners to validate transactions and secure the network.

But for now, it’s a fantastic time to explore Ethereum's potential. You can use this visualization tool from YCharts to track the average transaction fee.

Read more about it here.

🧱 Around The Block:

Bitcoin to hit $100K by US election day, Standard Chartered predicts.

• Bitcoin to hit $100K by US election day, Standard Chartered predicts.

• Crypto influencer shocked as Nigerian user refunds 90 SOL.

• Sydney Sweeney's Twitter account was hacked to pump yet another meme coin scam.

• Bitcoin traders position for ‘Bullish July’ as BTC ETFs record $124M inflows.

• This web3 game sold $1M in NFTs in under 1 minute.

• Australia’s crypto casino ban came into effect last month – but there’s rapid growth in these top countries.

That's all we've got for you today.

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In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be NEW”