Crypto Assets market experiences major turbulence

The Crypto Assets market recently experienced a huge震荡. Just before taking office, President-elect Trump was the first to trigger market fluctuations. On January 18th, Trump announced the launch of his personal Meme coin TRUMP, setting a precedent for heads of state to issue personal digital currencies, bringing another historic moment to the world of encryption.

Once this news was released, TRUMP coin was subjected to frenzied speculation. The highest intraday increase reached 1250%, with the price soaring to $80, and the market capitalization surpassed $20 billion on the first day, setting one of the fastest records for the growth of Crypto Assets market capitalization. The surge of TRUMP brought substantial returns to participants, but the President's personal involvement in issuing the coin has sparked widespread discussion around the world.

Following closely, First Lady Melania Trump also launched a namesake MEME token early this morning. This political couple seems to be transforming their real estate family into a Crypto Assets family, and the President's intention to amass wealth is becoming increasingly apparent.

TRUMP coin is issued on the Solana chain, officially commemorating Trump's survival after the gunshot incident on July 13, 2024. The total supply of this token is 1 billion coins, with an initial circulation of 200 million coins, while the remaining 800 million coins will be unlocked linearly over 3 years. It is worth noting that Trump's two companies will hold 80% of the tokens, with a lock-up period of 3-12 months.

The impact of this event on the Crypto Assets market is profound. As a MEME coin personally issued by the leaders of global powers, it opens up new channels for political donations and personal profit, while also highlighting Trump's recognition of Crypto Assets. Considering the numerous executive orders he is about to sign, the Crypto Assets market is likely to be included, and the development prospects of the Crypto industry in the next four years are promising.

The surge of TRUMP has also driven up other Crypto Assets. Bitcoin rose from $97,000 to $105,000, and Solana became the biggest winner with a 24-hour increase of 23.02%. However, this frenzied market behavior has also raised doubts. Some argue that Trump's use of his presidential identity to issue coins for profit is unethical, blurring the boundaries between administrative authority and commercial interests.

It is worth mentioning that Trump's money-making activities did not begin today. From universities and hotels named after himself, to issuing NFTs, and now issuing MEME coins, this behavior has run through his entire political and business career.

The low threshold of Crypto Assets perfectly meets Trump's high funding needs. In addition to MEME and NFT, the Trump family's Crypto Assets project World Liberty Financial also announced this morning that 20 billion WLFI tokens were sold out, worth 300 million dollars.

The MELANIA token of Melania has also achieved rapid growth, reaching a market cap of $18.2 billion. However, following the launch of the token, there was a surge of sell orders for TRUMP coins in the market, resulting in a loss of $7.5 billion in market cap within a short period.

Although such behavior may involve ethical issues, the current U.S. Constitution does not seem to explicitly restrict the president from using personal influence for gain, especially in the area of Crypto Assets where regulation is still unclear.

As Trump's inauguration speech approaches, market speculation and fervor may once again heat up. However, whether this will become a new round of wealth feasting or devolve into a harvesting festival for retail investors remains to be seen.