The first Favourable Information the Trump administration has given to the crypto community is not about BTC reserves or regulatory opening, but about the issuance of their own meme coin TRUMP and MELANIA. SOL is rising synchronously, reaching a historical high. However, BTC, ETH, and most other coins are showing a downward trend, with BTC dropping below 100,000 at one point, causing a total liquidation of 1.19 billion USD across the network.
Trump’s first Favourable Information: Meme coin
The hottest topic this weekend is undoubtedly the meme coin TRUMP by Donald Trump, which has skyrocketed from 6.54 to a high of 72 US dollars. Although it has dropped to 47.95 US dollars before the deadline, its market value has reached a staggering 9.7 billion US dollars, with a trading volume of 39.3 billion US dollars in 24 hours.
TRUMP has quickly gained the third highest market value in the meme coin category, with a circulating market value of 9.7 billion US dollars, surpassing PEPE. However, there is still a gap between SHIB and DOGE.
Data Source: CoinGecko
In addition, this morning, there was also a meme coin named MELANIA, which is the first lady Melania Trump’s issuance.
SOL benefits from reaching a new all-time high
In addition to the rapid rise of TRUMP, SOL also experienced a simultaneous boost, reaching a high of $293 yesterday, setting a new record. However, BTC and ETH coins showed a downward trend. Even the meme coin pioneer, Dogecoin, was affected, plummeting 11% within 24 hours.
Source: CoinGecko BTC once fell below 100,000, and the entire network Get Liquidated 1.19 billion dollars.
BTC fell below the 100,000 mark this morning. According to Coinglass data, the total liquidation across the network in the past 24 hours amounted to 1.19 billion US dollars, with 208 million US dollars in ETH and 203 million US dollars in BTC being the largest. TRUMP also made the list with a position worth 136 million US dollars being liquidated.
(Lost Ethereum? Investing in a New Paradigm: TRUMP Driving SOL, Skipping ETH into Altcoin Season)
This article, the first family crazy issuance of coins, TRUMP, MELANIA’s fundraising effect, BTC once fell below 100,000 pounds, first appeared on Chain News ABMedia.
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