Crypto Volatility Surges as Trump Returns to Office
The cryptocurrency market has experienced significant volatility following the inauguration of Donald Trump as president for a second term.
Bitcoin Price Fluctuates
Leading up to Trump's swearing-in, Bitcoin's price reached an all-time high of over $109,000. However, it subsequently fell below $101,000 after Trump delivered his inaugural address.
Trump's Crypto Promises and Policies
During his 2024 campaign, Trump pledged to make the United States the "crypto capital of the planet." However, his inaugural speech did not address any specific crypto policies. An executive order focused on crypto is expected to be released later today.
Trump's AI and Crypto Czar
David Sacks, Trump's appointed AI and crypto czar, expressed optimism about the future of crypto innovation in America.
Trump's Meme Coins
Last Friday, Trump's team launched meme coins featuring himself (TRUMP) and First Lady Melania Trump (MELANIA) on the Solana blockchain. These coins quickly garnered investor interest and are expected to be listed on several major exchanges, including Coinbase and Binance.
Solana Trading Volume Surges
Following the launch of the Trump meme coins, trading volume on the Solana blockchain exceeded $50 billion over the past 48 hours, surpassing all other blockchains.
Analysts' Perspectives
Analysts believe that a new era of crypto regulation is on the horizon. However, they caution that investors may face short-term disappointment if executive orders on crypto do not meet expectations.