#Trump's Inauguration, Crypto Market Crashes#
Hot Topic Overview
Overview
On Trump's inauguration day, the cryptocurrency market experienced wild swings. The meme coins TRUMP and MELANIA, launched by the Trump family, sparked market frenzy, driving up Solana network transaction volume and setting a new record for daily transaction fees. However, TRUMP coin plummeted after Melania launched her own meme coin, causing a shift in market sentiment. Meanwhile, the Ethereum Foundation continued its ETH sell-off, prompting questions from the community regarding its fund usage. Vitalik Buterin stated that the Ethereum Foundation is exploring new staking options to address regulatory concerns and potential hard fork disputes. Overall, Trump's inauguration day witnessed extreme volatility and uncertainty in the cryptocurrency market, driven by the impact of the Trump family's meme coins, while the Ethereum Foundation faced scrutiny over its fund usage.
Ace Hot Topic Analysis
Analysis
On Trump's inauguration day, the meme coins TRUMP and MELANIA, launched by his family, triggered a dramatic market fluctuation. TRUMP coin soared rapidly after its launch, reaching a market cap of over $17 billion, but subsequently plunged after Melania introduced MELANIA coin. The Solana network experienced a surge in meme coin trading volume, resulting in a record-high daily transaction fee of $33.3 million. Analysts believe the launch of Trump's family meme coins marks the dawn of a new era for US cryptocurrency regulation, where the government views cryptocurrency as a technology for direct public engagement. Meanwhile, the Ethereum Foundation's continuous ETH sale sparked market concerns, but Ethereum co-founder Vitalik Buterin stated the foundation is exploring new staking options to minimize regulatory issues and hard fork risks. Overall, the cryptocurrency market displayed significant volatility and active exploration on Trump's inauguration day, making its future developments worth watching.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The Trump family's token event is a paradigm shift in US crypto regulation, signaling that the government is beginning to view cryptocurrencies as a technology that directly reaches the public.
The Trump family's token event is a major positive for the US crypto industry, sending a signal that "it is safe to build and issue tokens in the United States."
The Trump family's token event has sparked market interest in celebrity coins, but it has also exposed the volatility and risks of celebrity coins.
The Trump family's token event may lead to tighter regulation of cryptocurrencies in the United States.