Why did the official Trump coin rise today while the Crypto Assets market is falling?

robot
Abstract generation in progress

Official Trump Coin (TRUMP) price surged nearly 10%, reaching around $7.53, rising against the overall sluggish trend of the crypto assets market. This is primarily due to the significant accumulation by Whales, with their open interest increasing from 3.97 million coins to 4.88 million coins, while the holdings on exchanges have also declined. Additionally, a department of the New York Stock Exchange (NYSE) submitted a Bitcoin ETF application linked to Trump's Truth Social, and World Liberty Financial's integration of the $1 stablecoin with the Enso Blockchain has also boosted market optimism. From a technical perspective, TRUMP has broken through a key resistance level, and analysts predict that if it can hold the support level, the price is expected to rise to $13-$19.

TRUMP-11.64%
BTC-2.66%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)