The price of bitcoin and other digital assets has soared since Trump won the US elections. A lavish "Crypto Ball" ahead of Trump's inauguration sold tickets for thousands of dollars. Now, the mood is souring.
Within hours, TRUMP skyrocketed in value, climbing from pennies to over $50, with a market cap over $10 billion. The coin now ranks among the world’s top 20 digital assets, attracting both investors and critics. Trump’s business arm holds 80% of the tokens, set to release gradually during his presidency.
The incoming first couple have launched a pair of meme coins in the leadup to president-elect Donald Trump’s inauguration that are already worth billions of dollars on paper. But the timing of the Trump cryptocurrency launch,
Bitcoin, however, is a fundamentally different, hard asset. While the mania surrounding crypto often spills over into Bitcoin’s price movements, Bitcoin itself remains largely unaffected in the long term. It continues to progress steadily, and I believe we’ll see a full recovery soon.
The soon-to-be First Lady introduced $MELANIA on Sunday, after which her husband's meme coin saw a significant price drop.
"God candle," Samson Mow, a bitcoin developer who leads the Jan3 bitcoin wallet company, posted to X and referring to a sudden spike in the bitcoin price that creates a "candle" on a trading chart as the bitcoin price suddenly soared, hitting $109,400 on the Coinbase bitcoin and crypto exchange.
Trump- and Melania-themed digital tokens minted billions on paper for the first family while raising conflict-of-interest and foreign influence concerns.
Bitcoin and other cryptocurrencies recoiled after Trump's first set of policies following inauguration did not refer to this asset class.
The cryptocurrency market continues to experience volatility, with Bitcoin (BTC) dropping below $102K on Thursday. Other major cryptocurrencies, including Ethereum (ETH), XRP, and Solana (SOL), also saw declines in the 1%-3% range.
Ethererum was once a serious contender to challenge bitcoin’s status, but it’s struggled to keep up with the Trump-fuelled crypto rally.
As the post-inauguration rally kicks off, a lot of excitement has come from the Rollblock space. Lauded as the biggest crypto out now, its market performance is