Crypto Market Volatility Surges Amid Trump's Second Inauguration
Bitcoin (BTC-USD) reached an all-time high of $109,000 before falling to $101,000 during Trump's inaugural speech.
Executive Orders and Promises for Crypto
President Trump promised to make the US a "crypto capital" during his 2024 campaign but did not elaborate during his speech. An executive order focused on crypto is expected later today.
David Sacks, Trump's AI and crypto czar, declared the end of "the reign of terror against crypto" at a crypto industry gala.
Trump's Meme Coins Launched
Trump's team launched "TRUMP" and "MELANIA" meme coins on the Solana blockchain, with 80% of the supply owned by Fight Fight Fight LLC and CIC Digital LLC, affiliates of The Trump Organization.
Investor Interest and Exchange Listings
The meme coins garnered significant investor interest, with major exchanges such as Coinbase (COIN), Robinhood (HOOD), and Binance planning to list them.
Solana Blockchain Benefits
Following the Trump token launch, the Solana blockchain experienced a trading volume surge of over $50 billion.
Market Analysis and Outlook
Analysts believe Trump's actions signal a new era of crypto regulation. However, some caution that the market may react negatively if expected executive orders are not implemented promptly or lack substance.
Amendment Note
The previous article incorrectly spelled the name of Trump's appointed crypto czar as Davids Sacks. The correct spelling is David Sacks. We apologize for the error.