#TrumpCoin plunges 50%#
Hot Topic Overview
Overview
Trump Coin plunged 50%, its family crypto project WLFI spent $112.8 million in the past 11 hours buying 6 tokens including ETH, WBTC, AAVE, LINK, TRX, ENA, currently with a total floating loss of $9.4 million. Although Trump did not mention cryptocurrency in his inauguration speech, his family project WLFI's crazy buying behavior, as well as his appointment of crypto-friendly Caroline Pham as acting chairman of the CFTC, have made the market full of expectations for the future. However, both TRUMP and MELANIA, meme coins issued by the Trump family, have seen significant declines, which has also affected market sentiment. Overall, the cryptocurrency market has experienced a short-term pullback since Trump took office, but in the long run, the market still holds expectations for Trump's policies.
Ace Hot Topic Analysis
Analysis
The Trump family's crypto project, World Liberty Financial (WLFI), announced a strategic purchase of 47 million ETH, 47 million WBTC, 4.7 million Aave, 4.7 million LINK, 4.7 million TRX, and 4.7 million ENA on the day of Trump's inauguration, totaling over $112.8 million. However, the prices of these tokens plummeted after the purchase, resulting in a cumulative loss of $9.4 million for the WLFI project. Although Trump didn't mention cryptocurrencies in his inaugural address, his family's investment activities still drew market attention and were interpreted by some as a bullish signal. However, many others believe that Trump's move was to exploit the crypto market for arbitrage, which will eventually lead to a drain in liquidity. Currently, the market is taking a wait-and-see approach to the future development of Trump's family's crypto project WLFI. Whether it can reverse its losses and ultimately turn profitable remains to be seen.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
After Trump took office, the impact on the cryptocurrency market is controversial. Some believe it is bullish, while others believe it is bearish.
The investment behavior of Trump family's crypto project WLFI has attracted attention. Their massive purchase of ETH and WBTC, and staking them on Lido, is considered a bullish signal.
Trump did not mention cryptocurrency in his inaugural address, nor did he sign any cryptocurrency-related bills, which disappointed some investors and caused a market pullback.
The investment behavior of Trump family's crypto project WLFI is controversial. Some believe it is using the crypto market to harvest, while others believe it is bullish on the cryptocurrency market.