#Trump Family Coin Plunges#
Hot Topic Overview
Overview
The Trump family's cryptocurrency holdings have plummeted, with their crypto project World Liberty Financial (WLFI) experiencing significant losses on investments made during Donald Trump's inauguration. WLFI purchased large amounts of ETH, WBTC, AAVE, LINK, TRX, and ENA, but all are currently in the red, resulting in a total unrealized loss of $9.4 million. ETH is WLFI's largest holding, accounting for nearly 57% of its portfolio.Additionally, the Trump family launched a meme coin named after them, which has also suffered a dramatic decline, dropping 60% from its all-time high and losing $8 billion in market capitalization. While Trump did not mention cryptocurrencies in his inauguration speech, the launch of his family's crypto project and meme coin has sparked widespread discussion in the crypto community, raising questions about whether Trump will utilize his position to benefit his family financially.
Ace Hot Topic Analysis
Analysis
The Trump family's coin plunged, and its crypto project World Liberty Financial (WLFI) spent $112.8 million on 6 tokens, including ETH, WBTC, AAVE, LINK, TRX, and ENA, in the past 11 hours. However, all of them are currently underwater, with a total loss of $9.4 million. WLFI's top holding is ETH, currently holding 56,774 coins, valued at $185.63 million, accounting for nearly 57% of WLFI's total on-chain holdings of $326,150,368.04. Earlier, WLFI announced the following strategic purchases in commemoration of Donald J. Trump's inauguration as the 47th President of the United States: 47 million ETH, 47 million wBTC, 4.7 million Aave, 4.7 million LINK, 4.7 million TRX, and 4.7 million ENA. However, Trump did not mention cryptocurrency in his inaugural speech, leading to market expectations being dashed, crypto market volatility, BTC's ATH falling by 5.7%, meme coins plummeting, and $826 million in derivatives being liquidated.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The Trump family's cryptocurrency project WLFI attempted to manipulate the market and profit by buying large amounts of cryptocurrencies, especially ETH and WBTC.
The Trump family used its political influence to attract a large number of novice investors by issuing Meme coins and profited from it.
The Trump family's cryptocurrency project WLFI suffered significant losses after buying large amounts of cryptocurrencies, leading to market concerns about the project.
After taking office, Trump did not fulfill his promises to the cryptocurrency industry, but instead appointed officials who held a negative view of cryptocurrencies, leading to fluctuations in the crypto market.