#Trump's Inauguration, Crypto Market Plunges#
Hot Topic Overview
Overview
The crypto market experienced wild swings before and after Trump’s inauguration. TRUMP and MELANIA meme coins launched by the Trump family quickly gained popularity on the Solana chain, fueling market frenzy and driving Solana network transaction volume and fees to record highs. However, TRUMP coin plummeted after the release of Melania coin, highlighting the volatility of celebrity coins. Nonetheless, the market widely believes that the Trump family’s entry is a significant signal for the crypto industry, potentially driving a shift in US crypto regulatory policies and attracting more institutional investors. Meanwhile, the Trump family’s crypto project World Liberty Financial has also gained attention, with its collaboration with Aave and partnership with stablecoin wealth management platform Ethena, potentially bringing new development opportunities for RWAfi.
Ace Hot Topic Analysis
Analysis
On the eve of Trump's inauguration, a cryptocurrency project launched by his family sparked intense market volatility. Trump himself and his wife Melania each launched a meme coin bearing their own name, igniting market frenzy. TRUMP coin's market capitalization briefly surpassed $10 billion, but subsequently plummeted after the launch of Melania Coin. Additionally, World Liberty Financial (WLFI), a DeFi project backed by the Trump family, announced the completion of a new round of public fundraising and acquired an ENS domain name associated with Trump, sparking further speculation. Market analysts believe that the Trump family's cryptocurrency projects mark the dawn of a new era for US crypto regulation, as the government may begin to view crypto technology as a tool for direct public engagement. However, concerns remain regarding the volatility of celebrity coins and potential legal risks. Overall, the Trump family's cryptocurrency projects have had a significant impact on the market, and their future development warrants close attention.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Trump family's cryptocurrency issuance is a major event in the crypto industry, signaling that the US government views cryptocurrency as a technology for direct engagement with the public, ushering in a new era of regulation.
The Trump family's cryptocurrency issuance has attracted a large number of retail investors to the crypto market and solidified the Trump administration's full support for cryptocurrencies.
The Trump family's cryptocurrency issuance has had a major impact on the Solana network, leading to a surge in trading volume and record-high transaction fees.
The Trump family's cryptocurrency issuance could drive the development of RWA (real-world assets) and provide them with new blue-chip projects.