Get ready for a game-changer in how you spend your digital assets! MetaMask, one of the most popular cryptocurrency wallet service providers globally, is set to launch a groundbreaking MetaMask payment card . This isn’t just another crypto card; it promises real-time crypto payments directly from your wallet, bypassing traditional conversion hurdles. Slated for a Q2 release, this development could significantly bridge the gap between the crypto world and everyday transactions. What is the MetaMask Payment Card and Why Does it Matter? The upcoming MetaMask payment card is the result of a strategic collaboration between MetaMask, secure payment card technology provider CompoSecure, and leading Web3 financial services company Baanx. The core innovation here is its ability to facilitate transactions using the cryptocurrencies held within your MetaMask wallet in near real-time – specifically, within five seconds. Traditionally, spending crypto requires a multi-step process: selling your crypto on an exchange, withdrawing fiat currency, and then using that fiat. Even existing crypto cards often involve a pre-conversion step or a slight delay. The promise of the MetaMask card is to make this process seamless and instantaneous at the point of sale, whether online or in a physical store that accepts card payments. This capability is crucial because it removes friction. Imagine using your crypto to buy groceries, pay for coffee, or book a flight without waiting for conversions or worrying about fluctuating exchange rates during the transaction window. This move positions MetaMask to become a more central tool for users not just holding assets, but actively using them in the real world. How Will Real-Time Crypto Payments Work? The magic of real-time crypto payments lies in the technology integration between MetaMask’s wallet infrastructure and the payment network rails provided by CompoSecure and Baanx. While the exact technical details at the moment of transaction are complex, the user experience is designed to be simple: Initiate a payment with your MetaMask card at a merchant terminal or online checkout. The system quickly checks your MetaMask wallet balance. A near-instantaneous conversion of the required crypto amount to the local fiat currency occurs behind the scenes. The transaction is authorized and completed within approximately five seconds. This process eliminates the need for users to manually manage conversions beforehand, simplifying spending and making crypto feel more like traditional money for everyday purchases. It’s a significant step towards mainstream adoption and usability for digital currencies. The Power Behind the Card: CompoSecure and Baanx The partnership with CompoSecure and Baanx is key to enabling these real-time crypto payments . CompoSecure is known for its high-security, premium payment cards, often featuring metal construction and advanced technology. Their expertise in card manufacturing and security infrastructure provides the physical and digital backbone for the MetaMask card. Baanx specializes in providing crypto-friendly financial services, including card programs and payment solutions that bridge digital assets with traditional banking systems. Their technology likely facilitates the rapid conversion and settlement processes required for near-instantaneous crypto spending. This collaboration brings together the strengths of a leading crypto wallet, secure hardware, and sophisticated financial technology. Expanding Horizons: Bitcoin Solana Support and Wallet Evolution Beyond the immediate launch of the MetaMask payment card , MetaMask has signaled broader ambitions for 2024. A major announcement includes plans to support Bitcoin Solana support later this year. This is a significant move as MetaMask has historically been focused primarily on Ethereum and EVM-compatible networks. Adding native support for Bitcoin, the largest cryptocurrency by market cap, and Solana, a high-throughput blockchain, will dramatically expand the range of assets users can hold and potentially spend directly from their MetaMask wallet using the new card. This diversification makes the wallet, and consequently the card, much more versatile and appealing to a wider audience of crypto holders. Furthermore, MetaMask plans a significant revamp of the wallet’s user interface (UI). While details are scarce, a UI refresh often aims to improve usability, streamline navigation, and potentially integrate new features like the payment card more seamlessly. A more intuitive interface can lower the barrier to entry for new users and enhance the experience for existing ones. What Does This Mean for Your MetaMask Wallet Experience? The introduction of the MetaMask payment card , coupled with planned Bitcoin Solana support and a UI revamp, points towards MetaMask evolving into a more comprehensive financial tool. For current users, this means: Increased Utility: Your crypto holdings become instantly spendable at millions of locations worldwide. Simplified Spending: No more complex manual conversions before making a purchase. Expanded Asset Support: Potentially spend not just ETH and ERC-20 tokens, but also BTC and SOL directly from the wallet. Improved User Experience: The planned UI revamp could make managing assets and using new features easier. This makes the MetaMask wallet less of just a place to store digital assets and more of an active account for managing and using your crypto in daily life. Potential Challenges and Considerations While the prospect of real-time crypto payments is exciting, it’s important to consider potential challenges: Fees: There will likely be fees associated with using the card, including conversion fees, transaction fees, or annual fees. The fee structure will be crucial for user adoption. Volatility: The value of cryptocurrencies can fluctuate significantly. While the real-time conversion minimizes risk during the transaction itself, the value of your holdings can change rapidly before you spend them. Regulation: The regulatory landscape for crypto and crypto-linked financial products is constantly evolving. Future regulations could impact the card’s availability or functionality in certain regions. Merchant Acceptance: While the card will likely operate on major payment networks, ensuring seamless acceptance at all merchant types will be key. Adoption Rate: The success of the card will depend on how quickly users adopt it and integrate it into their spending habits. Users should carefully review the terms and conditions, fee structure, and any regional restrictions once the card launches. Comparing the MetaMask Card to the Competition The crypto card market is becoming increasingly crowded. How does the proposed MetaMask payment card stack up? Its primary differentiator appears to be the focus on truly real-time crypto payments within the familiar MetaMask ecosystem. Many existing cards: Require users to pre-load fiat or stablecoins onto the card. Involve a conversion step that might not be truly instantaneous. Are tied to specific exchange platforms rather than a non-custodial wallet like MetaMask. By enabling spending directly from a non-custodial wallet with near-instant conversion, MetaMask is aiming for a higher level of convenience and control for the user compared to custodial card solutions. Actionable Insights: Getting Ready for Q2 If you’re a MetaMask user or interested in easier crypto spending, here’s what you can do: Stay Informed: Keep an eye on official announcements from MetaMask regarding the Q2 launch date and application process for the MetaMask payment card . Understand the Details: Once launched, carefully read the terms, conditions, fee structure, and supported regions before applying or using the card. Prepare Your Wallet: Ensure your MetaMask wallet is updated and you understand how to manage your assets within it. Look for Bitcoin Solana Support: If you hold BTC or SOL, monitor for updates on when native support will be integrated into the wallet, potentially enabling spending of these assets via the card later. Conclusion: A Leap Forward for Crypto Utility The upcoming launch of the MetaMask payment card represents a significant leap forward in making cryptocurrencies more usable for everyday transactions. By enabling real-time crypto payments directly from the user’s MetaMask wallet , bypassing manual conversions, and planning to add crucial support like Bitcoin Solana support , MetaMask is positioning itself at the forefront of crypto-fiat integration. While challenges remain, the potential for increased adoption and utility is immense. Q2 is shaping up to be an exciting time for MetaMask users and the broader crypto ecosystem. To learn more about the latest crypto market trends, explore our article on key developments shaping the future of digital asset spending.
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Bitcoin’s funding rate recently turned positive, signaling a surge in long positions among traders, particularly above the $90k mark. Bitcoin registered a hike in long positions above $90k. The cryptocurrency
Bitcoin briefly dipped before stabilizing around $95,000. Economic data and geopolitical tensions are influencing market sentiment. Continue Reading: Market Reactions Surge as Economic Indicators Shift The post Market Reactions Surge as Economic Indicators Shift appeared first on COINTURK NEWS .
The world of cryptocurrency investing is constantly buzzing with anticipation, especially when it comes to the prospect of new investment vehicles like Exchange Traded Funds (ETFs). Recently, rumors circulated suggesting that ProShares, a major player in the ETF space, was set to launch a ProShares XRP ETF on April 30th. This specific date sparked considerable interest and speculation across the crypto community, eager for more regulated ways to gain exposure to XRP. Debunking the April 30th ProShares XRP ETF Launch Rumor Amidst the swirling rumors about a potential April 30th launch date for a ProShares XRP ETF, a key voice in the ETF analysis space stepped forward to provide clarity. James Seyffart, an ETF analyst at Bloomberg Intelligence, took to the social media platform X (formerly Twitter) to address the speculation directly. His message was clear and concise: ProShares is not launching an XRP ETF on that specific date. This clarification served to temper expectations and correct misinformation that had begun to spread. Seyffart’s statement highlighted the fact that while there is indeed anticipation surrounding the potential launch of an XRP-focused ETF by issuers like ProShares, no official launch date has been confirmed by the company or regulatory bodies. The rumor likely stemmed from general excitement and perhaps misinterpretation of regulatory filings or market discussions. It’s a reminder that in the fast-paced crypto and ETF markets, relying on official announcements and reputable sources is paramount. Understanding the World of Cryptocurrency ETF Before diving deeper into the specifics of an XRP ETF, it’s helpful to understand what a Cryptocurrency ETF is and why it’s such a significant development for the market. An ETF is an investment fund that holds assets like stocks, commodities, or in this case, cryptocurrencies, and is traded on stock exchanges like regular stocks. For investors, Cryptocurrency ETFs offer several potential benefits: Accessibility: They allow investors to gain exposure to cryptocurrencies through traditional brokerage accounts, bypassing the need to set up separate crypto exchange accounts or manage private keys. Regulation: ETFs are regulated financial products, offering a layer of investor protection and oversight not always present with direct crypto ownership. Ease of Trading: They can be bought and sold throughout the trading day at market prices, similar to stocks. Diversification (potentially): While an XRP ETF would focus on a single asset, broader crypto ETFs could offer exposure to a basket of digital currencies. The approval and launch of Cryptocurrency ETFs, particularly in the United States, are often seen as milestones for the industry, signaling increasing mainstream acceptance and institutional participation. The Path to a ProShares XRP ETF: More Complex Than Others? While the US has seen the launch of Bitcoin Futures ETFs (including one from ProShares) and, more recently, spot Bitcoin ETFs, the path for an XRP ETF is notably more complex. The primary hurdle is the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs, the company associated with XRP. The SEC alleges that XRP is an unregistered security, a classification that Ripple disputes. This legal uncertainty creates significant regulatory ambiguity around XRP. The SEC has been hesitant to approve investment products, like ETFs, for assets whose regulatory status is unclear or contested. Until there is definitive regulatory clarity on whether XRP is considered a security or a commodity (like Bitcoin and Ethereum), the prospect of a spot XRP ETF gaining SEC approval remains challenging. Compare this to Bitcoin and Ethereum: Cryptocurrency Regulatory Status (US Context) ETF Status (US) Bitcoin (BTC) Generally considered a commodity by the SEC. Spot and Futures ETFs approved and trading. Ethereum (ETH) SEC stance has evolved, leaning towards commodity, but not fully settled for spot ETFs yet. Futures ETFs approved and trading. Spot ETF applications pending, decision anticipated. XRP Regulatory status highly contested; SEC alleges it’s a security, Ripple disputes. No spot or futures ETFs approved or trading. Regulatory clarity is the major barrier. This table highlights why the regulatory environment is the critical factor influencing the timeline for a ProShares XRP ETF or any other XRP ETF. When Could We See an XRP ETF Launch? Despite the debunked April 30th rumor, the question remains: when could an XRP ETF launch potentially happen? James Seyffart’s clarification, while dismissing the specific date, did offer a general timeframe expectation: likely in the short to medium term. However, this timing is heavily contingent on external factors, primarily regulatory developments. Key factors influencing the timeline include: Resolution of the SEC vs. Ripple Case: A definitive ruling or settlement that clarifies XRP’s legal status in the U.S. is arguably the most significant catalyst needed for ETF approval. SEC Guidance: Even without a full case resolution, clearer guidance from the SEC regarding how it views and intends to regulate cryptocurrencies like XRP could pave the way. Market Demand and Issuer Interest: Strong market demand and continued interest from major issuers like ProShares are necessary drivers for filing and pursuing ETF applications. Political and Legislative Landscape: Potential legislation addressing crypto regulation could also impact the process. The “short to medium term” suggests that if regulatory clarity emerges relatively soon, the standard SEC review process for an ETF application could then begin. This process itself can take several months. Implications for XRP Investment The potential approval and launch of an XRP ETF launch is widely seen as a positive development for XRP investment. Such a product could: Increase Institutional Adoption: ETFs make it easier for large institutions (pension funds, asset managers) to gain exposure to XRP, potentially bringing significant capital into the market. Enhance Liquidity: Increased trading activity via an ETF could improve XRP’s market liquidity. Boost Mainstream Accessibility: Retail investors who are hesitant to navigate crypto exchanges might be more comfortable buying an ETF through their traditional brokerage. Improve Price Discovery: A regulated ETF could contribute to more efficient price discovery for XRP. However, it’s crucial for investors interested in XRP investment to remember that an ETF’s price would track XRP’s market price, meaning it would still be subject to the inherent volatility of the cryptocurrency market. Furthermore, ETF approval is not guaranteed, and the timeline remains uncertain. The Broader ETF Market Context The interest in an ProShares XRP ETF and other crypto-specific ETFs reflects the growing maturity and acceptance of the overall ETF market. ETFs have become incredibly popular investment vehicles due to their low costs, transparency, and ease of trading. The success of Bitcoin spot ETFs in attracting billions in assets under management since their launch in January 2024 has only amplified the anticipation for similar products tracking other major cryptocurrencies. The ETF market is constantly innovating, with issuers exploring various asset classes and strategies. While regulatory hurdles remain for many crypto assets, the trend towards offering regulated investment products for digital assets appears to be a long-term one. ProShares, being a significant player, is naturally expected to explore opportunities across different cryptocurrencies as the regulatory landscape evolves. Actionable Insights for Aspiring XRP ETF Investors Given the current situation – debunked rumors and uncertain timelines – what should investors interested in an XRP ETF do? Stay Informed, but Skeptical: Follow reputable news sources and analysts like James Seyffart. Be highly skeptical of specific launch dates announced via unofficial channels. Monitor Regulatory Developments: Pay close attention to news regarding the SEC vs. Ripple case and any broader statements or guidance from the SEC concerning crypto regulation. Regulatory clarity is the key. Understand XRP Itself: While an ETF offers indirect exposure, understand the underlying asset, its use cases, and the factors influencing its price. Assess Your Risk Tolerance: Cryptocurrency markets are volatile. An ETF doesn’t eliminate this risk, though it may offer regulatory benefits. Ensure any investment aligns with your risk profile. Consider Alternatives (with Caution): If you seek XRP exposure now, research reputable cryptocurrency exchanges. Be aware of the differences in risk and custody compared to an ETF. Patience and due diligence are crucial in this evolving market. Conclusion: Anticipation Remains Despite Debunked Rumors In summary, the recent rumor about a ProShares XRP ETF launching on April 30th has been definitively debunked by Bloomberg ETF analyst James Seyffart. While ProShares and other issuers are likely interested in launching an XRP ETF, and the market anticipates one in the short to medium term, the critical factor remains regulatory clarity surrounding XRP, primarily tied to the outcome of the SEC vs. Ripple lawsuit. Investors should rely on official announcements and regulatory progress rather than unconfirmed dates. The potential launch of an XRP ETF is a significant event to watch for, promising increased accessibility and potential institutional flow into XRP investment, but its timing is not yet set in stone. To learn more about the latest Cryptocurrency ETF trends, explore our article on key developments shaping the ETF market and XRP investment potential.
Bitcoin's funding rate turned positive with longs dominant above $90k.
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The cryptocurrency landscape is constantly evolving, pushing the boundaries of what’s possible with digital assets. A significant development recently emerged from the world of restaking, bridging the gap between the two largest cryptocurrencies by market cap. Bitcoin restaking platform Lombard has announced a pivotal integration, bringing its wrapped Bitcoin asset, LBTC, into the burgeoning EigenLayer ecosystem. This move, undertaken in collaboration with the EigenLayer Foundation, is set to create exciting new opportunities for users. What Does the Lombard EigenLayer Integration Mean? At its core, the integration signifies a major step towards enhanced interoperability and capital efficiency within the decentralized finance (DeFi) space. By integrating LBTC into EigenLayer, Lombard is essentially allowing Bitcoin holders, via their wrapped LBTC, to participate directly in the Ethereum restaking ecosystem facilitated by EigenLayer. This isn’t just a simple bridge; it’s about enabling a new layer of utility for Bitcoin capital. The key takeaway from this integration, as reported by The Block, is the potential for users to receive dual restaking rewards. Specifically, users holding LBTC and participating through this integration can earn rewards concurrently from both the Babylon protocol (a prominent player in Bitcoin restaking) and the EigenLayer ecosystem (a leading force in Ethereum restaking). Understanding Bitcoin Restaking with Babylon Before diving deeper into the dual rewards, it’s helpful to understand the components involved. Bitcoin restaking, as pioneered by protocols like Babylon, allows Bitcoin holders to repurpose their idle BTC capital to secure other decentralized networks or protocols. Traditionally, Bitcoin’s primary utility outside of being a store of value and medium of exchange has been limited to its own blockchain. Babylon’s approach enables Bitcoin holders to ‘stake’ their BTC in a way that provides security services to various proof-of-stake (PoS) systems. This mechanism leverages Bitcoin’s immense security and liquidity, extending it to other parts of the crypto ecosystem. Users who stake their Bitcoin through Babylon earn rewards for contributing to the security and consensus of these external networks. Exploring EigenLayer and Ethereum Restaking On the other side of this integration is EigenLayer, a protocol built on Ethereum that introduces the concept of ‘restaking’. Ethereum restaking allows users who have already staked their ETH (or Liquid Staking Tokens – LSTs) on the Ethereum Beacon Chain to restake that same capital to simultaneously secure other decentralized applications, services, or middleware, known as Actively Validated Services (AVSs). These AVSs might include decentralized oracles, bridges, data availability layers, or new virtual machines. EigenLayer provides a marketplace where AVSs can lease security from Ethereum stakers, and stakers can earn additional yield for providing this security. This significantly increases the capital efficiency for Ethereum stakers, allowing their staked ETH to work harder by securing multiple protocols simultaneously. How Does LBTC Bridge Bitcoin and EigenLayer Restaking? The integration of LBTC into EigenLayer creates a novel pathway. LBTC, being a wrapped representation of Bitcoin on a compatible network (often an Ethereum-compatible chain or a sidechain/layer-2 connected to Ethereum), can now interact with the EigenLayer smart contracts and infrastructure. This allows the value represented by LBTC to be ‘restaked’ within the EigenLayer ecosystem. Here’s a simplified breakdown: A user holds Bitcoin (BTC). The user wraps their BTC into LBTC using the Lombard platform. The user then utilizes the integration pathway to restake their LBTC through EigenLayer. Simultaneously, because Lombard’s platform facilitates interaction with protocols like Babylon, the underlying mechanism allows the user to also be eligible for rewards from Babylon’s Bitcoin restaking activities. This creates the unique scenario where the same underlying capital (originally Bitcoin, now represented as LBTC) is generating yield from two distinct restaking protocols operating on different blockchain paradigms (Babylon for Bitcoin restaking and EigenLayer for Ethereum-centric restaking). What are the Benefits for Users Participating in LBTC EigenLayer Restaking? The primary attraction of this integration is the potential for enhanced yield. By earning rewards from both Babylon and EigenLayer, users can potentially achieve a higher overall return on their Bitcoin capital compared to participating in only one form of restaking. Key benefits include: Dual Yield Generation: The ability to earn rewards from two separate, prominent restaking protocols simultaneously. Increased Capital Efficiency: Making idle Bitcoin capital work harder by securing multiple networks or services. Access to Ethereum Ecosystem Yields for Bitcoin Holders: Traditionally, earning yield within the Ethereum ecosystem required holding ETH or other Ethereum-based assets. This integration opens up new yield-earning avenues for Bitcoin holders using LBTC. Diversification of Restaking Exposure: Gaining exposure to both Bitcoin-native and Ethereum-centric restaking opportunities. Contribution to Ecosystem Security: Participating helps secure both the networks/protocols leveraging Babylon’s security and the AVSs building on EigenLayer. Are There Challenges or Considerations? While the potential rewards are appealing, it’s important to consider the complexities and risks inherent in such cross-chain and layered protocols: Protocol Risk: Both Lombard, Babylon, and EigenLayer are complex protocols. Smart contract bugs, design flaws, or exploits in any of these could lead to loss of funds. Slashing Risk: Restaking often involves slashing conditions, where staked or restaked assets can be partially or fully confiscated if the validator or participant acts maliciously or fails to perform their duties. Users must understand the specific slashing risks associated with both Babylon and EigenLayer. Wrapped Asset Risk: LBTC relies on the security and integrity of the wrapping mechanism provided by Lombard. Risks associated with the custody or pegging of the wrapped asset to the underlying Bitcoin exist. Yield Volatility: Restaking rewards can be variable and are subject to market conditions, the demand from AVSs on EigenLayer, and the protocols leveraging Babylon’s security. Complexity: Understanding the mechanics of wrapping, Bitcoin restaking, Ethereum restaking, and how they interact requires a certain level of technical understanding. Users should conduct thorough research and understand these risks before participating. What’s Next for Bitcoin and Ethereum Restaking? The Lombard and EigenLayer integration is a powerful example of the ongoing trend towards greater interoperability and capital efficiency in crypto. It demonstrates how the security and liquidity of Bitcoin can be leveraged to benefit ecosystems built on other chains, like Ethereum. This development could pave the way for more similar integrations, expanding the opportunities for Bitcoin holders to participate in various DeFi and restaking activities across different networks. It also highlights the growing maturity of the restaking landscape, with protocols finding innovative ways to stack utility and yield. Conclusion: Unlocking New Frontiers The integration of Lombard’s LBTC with EigenLayer marks a significant milestone, particularly for participants interested in Bitcoin restaking and Ethereum restaking. By enabling users to potentially earn dual rewards from both Babylon and EigenLayer, it unlocks new levels of capital efficiency and yield generation for Bitcoin holders. While the complexities and risks should not be overlooked, this development showcases the innovative potential at the intersection of Bitcoin and Ethereum, pushing the boundaries of decentralized finance and cross-chain collaboration. To learn more about the latest Ethereum and Bitcoin restaking trends, explore our articles on key developments shaping the restaking landscape.
Wallet provider MetaMask is launching a crypto payments card that will allow users to spend self-custodied funds, offering crypto holders additional ways to use their tokens. The new card is backed by Mastercard and is being developed in partnership with CompoSecure and Baanx, according to the company. The product uses smart contracts to execute the IRL (In Real Life) transactions, with a processing speed under five seconds. It operates on the Linea network, a layer-2 scaling solution on Ethereum. The companies marketed the self-custodied crypto card as an alternative to the potential risks associated with centralized exchanges. In February, the second-largest crypto exchange by volume, Bybit, was hacked for $1.4 billion , an event that sparked widespread consternation in the crypto space. With the launch of its card, MetaMask is entering a competitive segment of the cryptocurrency market. Major exchanges like Binance, Bybit, Coinbase, and Crypto.com already offer crypto debit cards, some of which feature "crypto-back" rewards that allow users to earn digital assets on their purchases. MetaMask has struggled lately as interest in and participation in the Ethereum ecosystem have dried up. According to Dune Analytics, the wallet collected just $289,312 in fees for the week of April 14, much less than the $1.3 million in fees collected for the same period a year ago. Related: Spar supermarket in Switzerland starts accepting Bitcoin payments Stablecoin, BTC payments growing use cases for crypto Payments have emerged as one of the fastest-growing use cases for cryptocurrencies in 2025, offering a way to bring real-world utility to digital assets. Luxury brands like Dorsia have begun accepting various cryptocurrencies as payment, while messaging app Signal is reportedly exploring adopting Bitcoin for peer-to-peer transactions, and a bill in New York has been introduced to legalize the use of Bitcoin and other cryptocurrencies for state payments. Magazine: Bitcoin payments are being undermined by centralized stablecoins
Prospects of winning a VIP dinner by TRUMP meme coin holders, and potentially meeting the US President Donald Trump, ignited a surge in TRUMP on-chain transfers to the tune of $2.5 billion, according to Kaiko, a blockchain research firm. This follows an announcement made on April 23, which detailed the plans for an exclusive dinner for the top 220 holders of the meme coin. Top 25 TRUMP holders promised more than just dinner According to the Kaiko report , part of the plans included a meet-and-greet session with the President for the top 25 holders. “On Wednesday, April 23, the team behind the official TRUMP meme coin announced plans for an exclusive dinner for the top 220 holders, with the top 25 receiving a meet-and-greet with the sitting president,” noted Kaiko. In their report, the research firm added that this announcement triggered a 200% surge in on-chain activity for TRUMP, amounting to $2.4 billion worth of on-chain transfers, as nearly 10,000 wallets transferred the token. According to Kaiko, TRUMP jumped 60% on the announcement day from $9 to $14.50, adding that it marked the busiest day of the month for the token as well as “its highest trading volume on centralized exchanges since mid-February.” Following the dinner announcement, TRUMP overshadowed all other meme coins, including DOGE, and accounted for almost 50% of all meme coin trading volume on centralized exchanges last Wednesday. Kaiko also noted that there was a spike in the share of smaller wallets that transferred smaller amounts of TRUMP tokens on the Solana blockchain. “Typically, around 46% of active wallets transfer less than $10k worth of TRUMP, but this jumped to 75% following the announcement. Most of this surge came from very small transfers (under $1k), which alone made up 47.2% of active wallets.” Kaiko. The research firm has also pointed out that while Trump is challenging the narrative that meme coins are not valuable, the initiative has not been without controversy. Critics see controversy with the initiative Critics, including Trump’s political rivals as well as ethics advocates, have closely examined the move by the President and expressed concerns that he is rewarding those who buy his meme coin. Senator Jon Ossoff has called for President Trump’s impeachment over the dinner event. Ossoff condemned the plan as unethical and dangerous, saying it blurs the line between politics, personal gain, and public trust. Adding another perspective to the story, some experts noted some suspicious on-chain movements. The next day, after the announcement, a user identified as “Sun” seemed to be registering for the upcoming event, according to Arkham Intelligence. The movements seemed to raise suspicion that the addresses could be directed to Justin Sun, who is the Tron founder and has been a strong supporter of Trump. In November, Sun announced that Tron had invested $30 million in World Liberty Financial, a Trump-linked DeFi project. Thereafter, World Liberty Financial named Sun as its advisor. Citing Chainalysis , The Wall Street Journal recently reported that the meme coin had “generated hundreds of millions worth of cryptocurrency profits for entities affiliated with Trump.” Although volumes have shrunk in the wake of the announcement, Kaiko is upbeat about another wave of intense market action around the corner. “Volumes have since tapered off as the euphoria waned, similar to onchain activity. However, based on the website’s rules for the competition, we can expect to see more activity in the coming weeks.” Kaiko. “The rules stipulate that the top 220 average TRUMP holders between April 23 and May 12 will be eligible for the dinner. Increased activity is likely as the deadline approaches and holders move funds back on-chain to qualify for the event,” added the research firm. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot