#Trump's inauguration, cryptocurrency market plunges#
Hot Topic Overview
Overview
Following Trump's inauguration, the crypto market experienced a significant dip. The primary cause was attributed to the release of a Trump family-backed cryptocurrency, which triggered substantial market volatility. Consequently, numerous investors cashed out, leading to a rapid decline in the overall market. Concurrently, Solana's blockchain witnessed congestion and a subsequent crash. Currently, market sentiment leans bearish, with investors generally believing shorting opportunities outweigh those for long positions. While the Trump family's cryptocurrency initiative sparked controversy, some investors remain optimistic about Trump's policies towards the crypto sector. They eagerly await the executive orders he's expected to issue after his inauguration, particularly those concerning the inclusion of Bitcoin in the national reserve.
Ace Hot Topic Analysis
Analysis
The crypto market experienced wild swings after Trump took office. The meme coin TRUMP, launched by the Trump family, quickly gained popularity, reaching a market cap of over $10 billion, sparking widespread market discussion. However, the price of TRUMP subsequently plummeted, leading to accusations that the Trump family was using the presidency for personal gain. Meanwhile, the Trump family's crypto project World Liberty Financial (WLFI) purchased millions of dollars worth of LINK, AAVE, TRX, and other crypto assets on the blockchain, sparking speculation that the family would leverage its influence to promote cryptocurrency development. Some analysts believe that the Trump family's crypto projects are merely hype, with the ultimate goal being to cash out using market enthusiasm. However, other analysts believe that the Trump family's crypto ventures could signify a shift in the US government's stance on cryptocurrency, potentially leading to the inclusion of cryptocurrencies in national strategic reserves. Currently, the market remains cautious about the Trump family's crypto projects, but their actions are still worth watching.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The Trump family leveraged their influence in the crypto market by launching meme coins, manipulating the market and testing its obedience to them.
The Trump family's meme coin project, particularly TRUMP and MELANIA, has sparked controversy, with some accusing them of profiting from their presidential positions, while others see it as a new era for the crypto market.
The Trump family's crypto project World Liberty Financial (WLFI) made large on-chain purchases of LINK, AAVE, TRX and other cryptocurrencies, sparking market speculation that the Trump family might be incorporating these cryptos into their investment portfolio.
Following Trump's inauguration, the market widely anticipated policies related to cryptocurrencies, such as incorporating Bitcoin into the national reserve and easing regulations on cryptocurrencies, which fueled the rise of the crypto market.