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    Home»Bitcoin»TRUMP memecoin falls 50% as President ignores Bitcoin, crypto on first day in workplace
    TRUMP memecoin falls 50% as President ignores Bitcoin, crypto on first day in workplace
    Bitcoin

    TRUMP memecoin falls 50% as President ignores Bitcoin, crypto on first day in workplace

    By Crypto EditorJanuary 21, 2025No Comments2 Mins Read
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    TRUMP memecoin slid round 50% after President Donald Trump made no crypto-related bulletins on his first day in workplace. CryptoSlate information reveals the token peaked close to $70 over the weekend, then dropped to about $35 following the inauguration. Its market capitalization briefly exceeded $15 billion earlier than declining to $7.8 billion as of press time.

    A pockets linked to the Trump workforce holding 80% of the memecoin provide presently holds $31 billion value of TRUMP.

    TRUMP memecoin falls 50% as President ignores Bitcoin, crypto on first day in workplace
    TRUMP holders (Supply: Solscan)

    Trump signed a number of govt orders on vitality, border safety, immigration, infrastructure, and extra however didn’t tackle a promised Bitcoin strategic reserve or reverse the prior administration’s insurance policies, recognized by some as Operation Chokepoint 2.0. He pardoned 1,500 January 6 protesters, together with Oath Keepers and Proud Boys however Ross Ulbricht of Silk Street stays incarcerated. Trump promised to free Ross on day one.

    Polymarket’s odds of a day-one govt order peaked round 60%, whereas the percentages of a Bitcoin reserve within the first 100 days collapsed to only 30%.

    Bitcoin hovers close to $103,000 on Tuesday, down from a latest excessive of $109,300 reached on Inauguration Day. The trade had anticipated alerts concerning Trump’s particular insurance policies on digital belongings, however no statements have been made.

    Analyst

    Liam ‘Akiba’ Wright

    Editor-in-Chief at CryptoSlate

    Often known as “Akiba,” Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized know-how has the potential to make widespread optimistic change.

    Disclaimer: Our writers’ opinions are solely their very own and don’t mirror the opinion of CryptoSlate. Not one of the data you learn on CryptoSlate must be taken as funding recommendation, nor does CryptoSlate endorse any undertaking that could be talked about or linked to on this article. Shopping for and buying and selling cryptocurrencies must be thought-about a high-risk exercise. Please do your personal due diligence earlier than taking any motion associated to content material inside this text. Lastly, CryptoSlate takes no duty must you lose cash buying and selling cryptocurrencies.



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