Donald Trump Sworn In But Crypto Left Out in the Cold
- Donald Trump made no mention of Bitcoin or cryptocurrency during any of his inauguration speeches.
- Bitcoin, Ethereum, and Ripple have dropped a few percentage points in the past 24 hours.
- Trump has signed dozens of executive orders, none of which are related to Bitcoin or crypto yet.
Donald Trump’s inauguration lasted some six hours, and not once did the “Bitcoin President” mention Bitcoin (BTC), cryptocurrencies, or refer to digital assets in any way.
After reaching an all-time high (ATH) of $108,889 on the day of Donald Trump’s White House Presidential Inauguration Ceremony, BTC has failed to maintain its upward momentum.
-
Business Key Economic Indicators To Watch This Week: Trump Inauguration, Japan Interest Rates
-
Crypto Ethereum Foundation Faces Leadership Overhaul as Vitalik Buterin Sets New Goals
-
Crypto Bitcoin ETF Investors: Full List of Institutional BTC Fund Holders in 13F Filings
Not a Word
With zero mention of Bitcoin or cryptocurrencies at all, the community may have set its expectations a little higher. Bearish sentiment has come to cool the markets off from their lofty highs.
After corralling the crypto industry and community into giving him their full support, Trump’s faith in fulfilling his grandiose pledges could begin to wane with each passing day of inaction on the crypto front.
Perhaps as a sign of things to come, Trump failed to make good on his promise to commute the sentence of Silk Road founder Ross Ulbricht on day one of being re-elected.
Bitcoin (BTC)
All eyes are on BTC, which, after relishing a sturdy 7-day rally, increased 6.17% from $96,4000 to a fresh ATH of $108,889 on Jan. 20 and has surprisingly dropped 5.34% since Trump officially took office.
Bitcoin’s market cap now stands at a whopping $2.02 trillion, with the premier crypto’s dominance standing at 57.6%.
With zero mention of Bitcoin or crypto overall, the community is eager to see if any of Trump’s executive orders or priorities relate to cryptocurrency in any way.
Ethereum (ETH)
Having underperformed for most of 2024, ETH was disappointed with a 3.09% decrease.
The token hit its highest price of just over $4,066 in March 2024 and failed to break back above in the following months.
The July launch of U.S. spot ETH ETFs boosted the token’s price considerably from its year-low of around $2,223 to its peak of $4,007 in September.
ETH failed to capitalize on Trump’s decisive victory as BTC did.
Ripple (XRP)
The XRP token dropped 5.9% to $3.07 following Trump’s inauguration.
The token’s resurgence in November 2024 was a much-needed boost to altcoin market confidence as BTC and memecoin mania took center stage last year.
The renewed bullish sentiment followed Trump’s election victory and has two key ingredients.
First, the result was shortly followed by U.S. Securities and Exchange Commission (SEC) head Gary Gensler, announcing he would be stepping down . Secondly, spot XRP ETF applications started landing on the regulators’ desk.
With spot ETF approvals now pending and a 4-year-long battle with the SEC on what parts of XRP’s token sale qualify as a security offering, the markets appear to be ready to back XRP with billions of dollars.
OFFICIAL TRUMP (TRUMP) Memecoin
Launched on Jan. 18 and announced by the President himself, the TRUMP memecoin performed spectacularly, reaching a market cap of $6.91 billion within 24 hours of launching.
Now valued at an astonishing $39.04 , down 24.15% from yesterday, Trump’s token now carries a market cap of $7.51 billion, already ranking it 24th under Uniswap (UNI).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Tether freezes $27 million in USDT from sanctioned Russian exchange Garantex

Deputy Anton Gorelkin Calls for Rejection of USDT Stablecoin

Solana DEX Volumes Suggest Competitive Edge Over Ethereum Ecosystem Amid Memecoin Market Challenges

Franklin Templeton says Solana’s DeFi rise presents a threat to Ethereum
Share link:In this post: A Franklin Templeton report suggested that Solana threatened Ethereum due to its growing influence. Solana’s DEX volumes surpassed the Ethereum ecosystem in January, highlighting a potential market shift. According to the report, the shift to activity to the layer two blockchain shows the Ethereum scaling approach was working.

Trending news
MoreCrypto prices
More








