#Trump Family Token Plunges#
Hot Topic Overview
Overview
Trump family token plummets, its crypto project World Liberty Financial (WLFI) spent $112.8 million in the past 11 hours to buy 6 tokens including ETH, WBTC, AAVE, LINK, TRX, and ENA, but all are currently underwater, with a total loss of $9.4 million. WLFI has previously spent $220 million to buy 7 tokens, including 47 million ETH, 47 million wBTC, 4.7 million AAVE, 4.7 million LINK, 4.7 million TRX, 4.7 million ENA, and 4.7 million ONDO. Despite the Trump family announcing these strategic purchases on Inauguration Day, Trump himself did not mention cryptocurrency in his inauguration speech, leading to market expectations falling short, the crypto market fluctuated, BTC fell below 101,000, meme coins plummeted, and $826 million in derivatives were liquidated.
Ace Hot Topic Analysis
Analysis
The Trump family's tokens have plummeted, with its crypto project World Liberty Financial (WLFI) spending $112.8 million in the past 11 hours on 6 tokens, including ETH, WBTC, AAVE, LINK, TRX, and ENA, but all are currently underwater, resulting in a total loss of $9.4 million. WLFI has cumulatively spent $220 million on 7 tokens, with ETH being its largest holding, currently accounting for nearly 57%. Additionally, the meme coin TRUMP, issued by the Trump family, has continued its downward trend, falling 60% from its all-time high, wiping out over $8 billion in market capitalization within 24 hours. Although Trump did not mention cryptocurrency in his inaugural address, his family's crypto projects and meme coin's moves have caused market fluctuations, raising questions about whether he will deliver on his promise of supporting cryptocurrency.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Trump family's crypto project WLFI attempted to capitalize on the hype surrounding Trump's presidency by buying large amounts of cryptocurrencies, but ultimately resulted in huge losses.
The meme coins TRUMP and MELANIA issued by the Trump family attracted a large number of novice investors, but ultimately the price plummeted, causing many to lose money.
After Trump took office, he did not fulfill his promises to the crypto industry, instead leading to a decline in the crypto market.
The Trump family's crypto project WLFI did not succeed and instead became a 'scam' tool in the crypto world, resulting in negative impact on the crypto market.