During Trump's inauguration on January 20, his address and initial White House priorities included no mention of cryptocurrency, contributing to crypto markets experiencing a pullback.
Bitcoin's price fell back to the $100,000 levels after reaching its ATH of $109,000, causing numerous liquidations. In total over January 19 - 20, the market recorded $1.9 billion in liquidations. Over the past 24 hours, liquidations came in at $633.61 m.
Following Trump's inauguration, the $TRUMP meme coin has collapsed 40% dropping to $32 and is currently back to $39. Similarly, the $MELANIA is down 65%, a day after its launch.
Tesla CEO Elon Musk and other sources have indicated that Silk Road founder Ross Ulbricht may be released from prison within 48 hours, following apparent confirmation from Trump's staff of an impending pardon or commutation after 11 years of imprisonment.
World Liberty Financial (WLFI), the DeFi project linked to President Donald Trump, made large-scale cryptocurrency purchases totaling around $100 million across major tokens including Ethereum and Bitcoin before his inauguration. Specifically, they bought $47m of wBTC and $47m of ETH to celebrate his inauguration as 47th president of the US.
Whale addresses have continued accumulating BTC, adding over 2 tn satoshis to their holdings since mid January.
A Solana-based meme coin called 'CUBA' reached a $30M market cap before abruptly disappearing in an alleged pump-and-dump scheme, with claims of Cuban government involvement after the country's Ministry of Foreign Affairs' X account promoted the token before being locked.
According to CV Labs CV VC Top 50 Report, the Crypto Valley top 50 experienced a 55% valuation surge, reaching a total of $593 billion, Crypto Valley's blockchain startups raised $586m across 56 deals, representing an 8% year-on-year increase in funding that outpaced the global blockchain funding growth rate of 3%.
Solana's 24h volume dropped 55.57% to $14.65 bn. The price dropped 18.65% from its ATH of $293, currently standing at $239.
Ether's 24h volume also decreased 35.47% to $42.51 bn, while number of ETH whale addresses has dropped from an 11-month high.
