#Trump Family Token Plunges#
Hot Topic Overview
Overview
The Trump-backed crypto project WLFI has plummeted, after spending $112.8 million in the past 11 hours buying 6 tokens including ETH, WBTC, AAVE, LINK, TRX, and ENA. However, all the tokens are currently underwater, resulting in a total loss of $9.4 million. While Trump didn't mention crypto in his inauguration speech, his family's crypto project WLFI is still actively buying crypto assets and has made ETH its largest holding, accounting for nearly 57% of its total holdings. However, market confidence in the Trump family's crypto project is lacking, leading to a significant drop in its token price and raising concerns about whether the project will become a "vampire" in the crypto world.
Ace Hot Topic Analysis
Analysis
Trump family-backed DeFi project World Liberty Financial (WLFI) spent over $110 million on six cryptocurrencies, including ETH, WBTC, AAVE, LINK, TRX, and ENA, on Trump's inauguration day. $47 million was spent on ETH and WBTC, while $4.7 million was spent on the other four. WLFI has now spent a total of $220 million on seven cryptocurrencies. However, all of these are currently underwater, with a total loss of $9.4 million. While Trump did not mention cryptocurrencies in his inauguration speech, the large-scale purchase behavior of his family's crypto project WLFI has still attracted market attention. It also raised expectations of whether Trump would launch a policy favoring cryptocurrencies. However, the market's expectations for the Trump family's tokens have now declined, and their prices have fallen 60% from their all-time highs, wiping out over $8 billion in market capitalization in 24 hours.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Trump did not mention cryptocurrency in his inaugural address after taking office, but his family has invested hundreds of millions of dollars in various crypto assets, including ETH and WBTC, and staked some ETH, which is seen as a bullish signal.
The Meme coins TRUMP and MELANIA issued by the Trump family have created a wave of enthusiasm in the market, but have subsequently experienced a sharp decline, raising questions about whether the Trump family will use the crypto world to "scam".
After taking office, Trump's family's crypto project WLFI has been continuously buying various tokens, but is currently in a loss-making state, raising concerns about whether the project can operate successfully.
After taking office, the market expected that Trump would introduce policies favorable to cryptocurrency, but no clear policies have been announced yet, leading to a market correction.
Although Trump has not yet released any clear cryptocurrency policies since taking office, the popularity of his family's crypto projects and Meme coins, as well as market expectations for Trump's policies, have still brought new vitality to the cryptocurrency market.