The official meme coin of United States President Donald Trump has been a roaring success since its launch five days ago, witnessing high trading activity and investor participation. Data analyzed by the on-chain intelligence firm CryptoQuant now shows that Official Trump (TRUMP) has recorded roughly $38 billion in total trading volume across centralized crypto exchanges since its release on January 17. The token’s spot trading volume topped $17 billion on January 19; however, the recent figure indicates that the volume has almost doubled over the past few days. The TRUMP Pump CryptoQuant found that the world’s largest crypto exchange, Binance, dominated the spot trading volume with $16 billion, while other platforms like OKX and Bybit followed suit with $7 billion and $6 billion, respectively. The Trump meme was promoted as a cryptocurrency created to express support for and engagement with Trump’s beliefs and ideals. These coins exist on the Solana blockchain, and 200 million TRUMP are currently in circulation, with the total supply expected to grow to one billion over the next three years. Less than two days after its launch, TRUMP became one of the top 20 altcoins on CoinGecko and CoinMarketCap (now at number 25), with a market cap of nearly $15 billion. The rally also made the token the second-biggest meme coin, trailing behind Dogecoin (DOGE). Official Trump’s pump had never been seen before in the crypto space, so during the next few days after its launch, it ranked as the top trending token across the entire sector. Significant Correction Amid the growth in Official Trump’s market cap and spot trading volume, the token’s price skyrocketed from 0 to $72 in less than 48 hours. Although the meme coin’s price had corrected significantly by the time of writing, and it was trading at $35.88 on CoinMarketCap, TRUMP is still up more than 450% from its January 18 trading price of $7. Noteworthily, Official Trump’s market cap now hovers around $7.18 billion, and analysts have attributed this drop in price and market cap to the launch of MELANIA, a competing meme coin by First Lady Melania Trump. Interestingly, President Trump attempted to downplay the success of TRUMP at a press briefing a day after his inauguration; however, it cannot be denied that the memecoin’s pump created new crypto millionaires overnight. The post TRUMP Spot Trading Volume Hits $38B Across Exchanges Within 5 Days: CryptoQuant appeared first on CryptoPotato .
Two widely followed crypto traders say President Trump may have made one of the biggest financial blunders in modern history moments before taking office. In a new video on the state of the markets, pseudonymous analysts DonAlt and Cred say the launch of Trump’s official memecoin (TRUMP) potentially squandered a massive fortune for the 47th President. After its initial launch on January 17th, TRUMP soared to a $72 billion fully diluted market cap in a couple of days, making it among the top 20 crypto assets in existence – with Trump and his affiliates holding 80% of the supply. Then, Trump abruptly launched a second official coin called MELANIA, which triggered an immediate crash in the price of TRUMP as investors realized their coins can essentially be diluted by new Trump family tokens. Crypto trader Cred says the move hammered the seemingly unstoppable rise of TRUMP. “It feels like one of the worst decisions of modern financial history, not to be too hyperbolic about it. But if you look at like how much it went up, how quickly it got to the tens of billions in market cap. The liquidity that was there. The attention. The mind share. It was literally cannibalizing the entirety of the market and you spawned it out of nowhere and then you just fumble that on a Melania coin.” Fellow trader DonAlt says he agrees, warning that Trump and his team’s 80% allocation will be unlocked over time, potentially hitting the open market. “I’m not saying this is going to go to zero anytime soon. I think if anything is probably going to just stabilize and bleed over a while. But I would not want to hold anywhere close to the unlocks because I mean just by the way that they launched Melania coin I’m like 90% certain that you’re going to get dumped on your head.” TRUMP has now dropped from an all-time high of $72.62 on January 19th to $29.43 at time of publishing. The level of involvement that Trump directly had in the launches of both coins – which are attributed to the Trump-affiliated organizations CIC Digital LLC and Fight Fight Fight LLC – is debatable. When asked about his new memecoin two days ago, Trump said he wasn’t closely following its progress. “I don’t know much about it other than I launched it. I heard it was very successful. I haven’t checked it.” Although his memecoins may have faltered, many in the industry are celebrating a number of Trump-fueled digital asset developments this week. On Thursday, President Trump signed an executive order to analyze the creation of a government-held strategic crypto reserve, prohibit the development of a Central Bank Digital Currency (CBDC) and promote stablecoins. Trump’s new leadership at the SEC also eliminated a controversial accounting guideline that effectively prevented banks from holding crypto assets on behalf of their customers. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Trump May Have Made One of the Worst Financial Decisions in Modern History Moments Before Taking Office, According To Crypto Traders – Here’s Why appeared first on The Daily Hodl .
The post XRP vs. Bitcoin: Is Ripple Lobbying Against U.S. Strategic Bitcoin Reserve? CEO Reacts appeared first on Coinpedia Fintech News Bitcoin is climbing towards new all-time highs, with a major breakout on the horizon. A key driver of this upward momentum is a recent executive order signed by U.S. President Donald Trump, which includes the creation of a U.S. government Bitcoin Reserve. This move has raised excitement in the crypto world, particularly for Bitcoin enthusiasts. However, amidst the Bitcoin Reserve news, XRP is facing a lot of heat on social media. Pierre Rochard, VP of Research at Riot Platforms, has claimed that the biggest challenge to the Strategic Bitcoin Reserve (SBR) isn’t the Fed, Treasury, or banks—it’s Ripple. Rochard argues that Ripple is spending millions of dollars lobbying politicians to block the SBR, fearing it could hurt their marketing narrative and push their own agenda for Central Bank Digital Currencies (CBDCs). Rochard even accused Ripple of trying to sabotage Bitcoin mining under the Biden administration and said Ripple has now “declared war” by attempting to block the Strategic Bitcoin Reserve. According to him, Ripple should have focused on its own business and not interfered with the SBR. “Face the facts: Ripple / XRP has been the leading source of anti-bitcoin misinformation for more than a decade. They have aggressively lobbied policymakers around the world to try to ban bitcoin mining. Weaponizing woke ESG narratives to promote their centralized token,” Rochard said. In response, Ripple CEO Brad Garlinghouse fired back, stating that their efforts are actually boosting the chances of a crypto strategic reserve, which could include Bitcoin. Garlinghouse stressed that Ripple’s actions align with the broader goals of the U.S. government to support American companies and technologies.
Following Donald Trump’s inauguration on January 20th, Bitcoin (BTC) has remained range-bound, trading between $101,000 to $110,000. However, a new report by CryptoQuant states that behind this routine price action, Bitcoin ‘whales’ are quietly back to accumulating the premier cryptocurrency. Bitcoin Whales Back In Accumulation Mode According to the report, large BTC holders – commonly referred to as Bitcoin ‘whales’ – have re-entered the accumulation phase. Recent data shows a significant uptick in the monthly percentage growth of BTC holdings among these large investors. Related Reading: Bitcoin Price Forecast Of $150,000 ‘Too Low’ Amid Rising Adoption, Crypto Trader Says Notably, Bitcoin whale holdings increased from a decline of -0.25% on January 14 to a growth of 2% by January 17, marking the highest monthly growth rate since mid-December. In absolute terms, these investors’ BTC holdings rose from 16.2 million on November 4 to 16.4 million as of January 24. The surge in whale accumulation appears to be driven by several bullish developments early in Trump’s administration. For example, the US president has already signed an executive order establishing a Working Group on Digital Asset Markets. This Working Group has been tasked with proposing a federal regulatory framework for cryptocurrencies – including stablecoins – within six months. Additionally, the group will evaluate the potential creation of a national digital asset stockpile, fueling speculation about a potential US strategic Bitcoin reserve. Besides growth in whale holdings, selling pressure for BTC has declined sharply since major profit-taking in December. This aligns with a recent report which found that BTC profit-taking has dropped by 93% from its December peak. The report reads: Bitcoin holders realized daily profits as high as $10 billion as Bitcoin approached $100K in December. However, daily realized profits have fallen to levels around $2-$3 billion in January, which indicates market participants may have finished selling Bitcoin for the most part. Moreover, the traders’ unrealized profit margins have declined near zero, a level which typically marks a price floor during bull markets. However, the report also highlights that overall Bitcoin spot demand has weakened over the past month, raising concerns about the likelihood of another bullish rally. Specifically, the rate of demand growth for Bitcoin has fallen from 279,000 BTC in early December to just 75,000 BTC at the time of writing. Analysts Confident Of Another BTC Rally Despite the cooling of on-chain demand, crypto analysts remain optimistic about another major price rally for Bitcoin. For instance, a recent report suggested that BTC could target a price as high as $249,000 during Trump’s presidency. Related Reading: Could Bitcoin Hit Its Peak In Summer 2025? Analysts Weigh In Another report by Bitfinex predicted that BTC is likely headed to $200,000 by mid-year amid mild price pullbacks. However, a lot depends on how the US Federal Reserve handles interest rate adjustments this year. From a technical standpoint, BTC’s cup-and-handle pattern projects a price target of as high as $275,000. At press time, BTC trades at $106,074, up 0.1% in the past 24 hours. Featured image from Unsplash, Chart from TradingView.com
Morgan Stanley is doubling down on crypto, pledging to work with regulators as it eyes bitcoin’s resilience and the sector’s game-changing potential for finance. Aligning With Regulators: The Key to Unlocking Crypto’s Potential in Finance Morgan Stanley CEO Ted Pick revealed on Thursday that the bank is preparing to collaborate with U.S. regulators to explore
Crypto investment management firm Bitwise filed paperwork to establish a Delaware statutory trust for a dogecoin exchange-traded fund (ETF) on Wednesday, according to a post by Bloomberg ETF analyst Eric Balchunas. The firm manages upwards of $10 billion in assets across sixteen funds, including spot bitcoin and spot ether ETFs. Optimism for a wider variety
At the WAGMI conference held in Miami on Friday, Aaron R. Day, the Chairman and CEO of the Daylight Freedom Foundation, delivered a compelling address centered on Roger Ver’s troubles with the U.S. government. During his speech, Day emphasized to the audience the gravity of the matter, describing it as a “high stakes situation.” Miami
The post XRP Price Prediction For January 25 appeared first on Coinpedia Fintech News In recent market movements, XRP has seen mixed price action and is down by more than four percent on the weekly chart. At press time, XRP is trading at $3.12 and has slightly drifted to the green zone. The Key Scenario: Price Expected to Reach New Highs There is a scenario where XRP could make one more move to the upside before a potential shift in trend. As of now, the price is expected to rise, potentially reaching a new peak. However, the crucial question remains: will this push higher lead to further gains, or will it mark the peak of the rally before a correction begins? After a five-phase pattern, a major top or larger correction typically follows, signaling increased risk. This doesn’t necessarily mean a bearish trend, but the current rally could be nearing its end. Potential Breakout Targets: Where Could the Price Head Next? On the smaller time frame, XRP is facing resistance at its all-time high of $3.30. A breakout above this level could see the price surge towards new targets, including $4.19, $5, and possibly even $6.61. XRP recently completed an internal triangle pattern, which broke out to the upside on January 13. However, the price failed to break above its all-time high and has since entered a consolidation phase. There is no clear breakout signal at the moment, and the price is holding above key support levels between $2.52 and $2.94. These support levels have been respected multiple times, and the price recently reacted to the $2.81 level, which represents a 50% retracement. The expectation remains for a continuation to higher prices, with potential moves to $4.90 or even $5. However, it’s also possible that XRP may form another low before continuing upwards. Traders should watch for a breakout above $3.30–$3.40 to confirm the continuation of the bullish trend. Until that happens, a pullback to the lower support levels remains a possibility.
As the Ethereum price lingers below its all-time highs (ATHs), TRON founder Justin Sun has emerged with a bold vision aimed at revitalizing the altcoin’s value. Sun’s Vision For The Ethereum Price In a recent social post on X (formerly Twitter), Sun proposed a plan that he believes could propel the Ethereum price to unprecedented heights, targeting a price of $10,000. Sun’s strategy hinges on a radical overhaul of the Ethereum Foundation (EF) and the Ethereum protocol itself. Related Reading: US Bitcoin Reserve: Eric Trump’s Deleted Tweet Raises Eyebrows The TRON founder asserts that under his leadership, immediate and decisive actions could almost double the current price peak for ETH. One of his primary proposals is to halt the sale of ETH for a minimum of three years. By doing so, Sun aims to stabilize the currency’s supply and bolster market confidence. To cover operational costs during this period, Sun suggests leveraging Aave (AAVE) lending, staking yields, and stablecoin borrowing, thereby ensuring that the ETH supply remains intact while aligning with deflationary goals. In addition to halting sales, Sun proposes imposing significant taxes on Layer 2 (L2) projects. He believes this move could generate at least $5 billion annually for Ethereum, either in stablecoins or tokens. The revenue from these taxes would be utilized to repurchase and burn ETH in a decentralized manner, further enhancing scarcity and potentially driving up demand. Major Staff Cuts To Transform Ethereum Foundation Into Meritocracy In his social media post, Sun also emphasized the need to streamline operations within the Ethereum Foundation. He suggests a significant reduction in staff, retaining only the most capable team members. Those who remain would receive substantial salary increases, transitioning the Ethereum Foundation into a merit-based organization that rewards high performance. Furthermore, the TRON founder calls for adjustments in node rewards and a stronger focus on fee-burning mechanisms. By reducing node rewards, Sun believes Ethereum can solidify its deflationary status, reinforcing its position as a store of value. Related Reading: Cardano Will Reach $1.50 Once The $1.10 Resistance Breaks – Details The focus, according to Sun, would shift exclusively toward Layer 1 (L1) development, prioritizing scalability, security, and broader adoption. Sun is confident that these initiatives could lead the Ethereum price to surpass $4,500 within the first week of implementation, laying the groundwork for long-term success. While this only represents Sun’s vision for the Ethereum price, any of these proposals, if viable for driving another leg up of the altcoin, could ultimately be adopted by the co-founders or the developers of the platform. As of this writing, the Ethereum price hovers around the $3,200 mark, reflecting a loss of 4% over the past 24 hours. This decline has widened the gap between the current price and its ATH of $4,878, representing a difference of 34.5%. Featured image from DALL-E, chart from TradingView.com
The in-kind redemption model is seen as a more efficient option for the spot Bitcoin ETF and should have been allowed from “the get-go,” says an ETF analyst.