#Trump inauguration, cryptocurrency market plunges#
Hot Topic Overview
Overview
The cryptocurrency market saw dramatic fluctuations on the eve of Trump's inauguration. The launch of the TRUMP and MELANIA meme coins by the Trump family sparked market frenzy, with Solana network trading volume surging and daily transaction fees hitting an all-time high. While the market is skeptical about the future of the Trump family meme coins, their launch is seen as the beginning of a new era of US crypto regulation, potentially driving institutional capital into the cryptocurrency market. Meanwhile, Bitcoin price broke through $109,000, an all-time high, ahead of Trump's inauguration, with the market widely expecting a supportive stance from the Trump administration towards cryptocurrencies and potential measures to promote Bitcoin adoption.
Ace Hot Topic Analysis
Analysis
On the eve of Trump's inauguration, the launch of TRUMP and MELANIA meme coins by his family triggered a dramatic surge in the cryptocurrency market. Bitcoin's price briefly surpassed $109,000, setting a new all-time high. The Solana network also experienced congestion due to heavy trading, with daily transaction fees reaching a record high of $33.3 million. Analysts widely believe that the Trump family's meme coin issuance represents a paradigm shift in US crypto regulatory policy, signifying the government's recognition of cryptocurrency as a technology for direct public engagement and potentially driving the development of the US crypto industry. However, some experts caution that celebrity coins have higher volatility, urging investors to exercise caution and rationality, and remain aware of legal risks.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Trump family's cryptocurrency issuance is a positive for the crypto industry, attracting more retail investors and solidifying the Trump administration's support for cryptocurrencies, potentially even pushing the US to establish a Bitcoin strategic reserve.
Trump family's cryptocurrency issuance is a negative for the crypto industry, as it may overdraw the future of the crypto industry and lead to stricter regulations.
Trump family's cryptocurrency issuance is a turning point for the crypto industry, signifying the US government's recognition of cryptocurrency as a technology directly engaging the public, potentially ushering in a new era of crypto regulation.
Trump family's cryptocurrency issuance is a hype in the crypto industry, its price volatility is extreme, investors should remain cautious and rational.