Kraken has become the first major US-based crypto exchange to list Official Trump (TRUMP), the Solana-based meme coin launched by self-proclaimed ‘crypto president-’ Donald Trump. According to the company’s official announcement , trading for the controversial token began at 20:15 PM UTC on January 18. But as the token hits Kraken, it also saw a 35% decline in value. The token, which celebrates Trump’s leadership and his campaign slogan “Fight, Fight, Fight,” debuted only a few hours ago but has since seen an over 120,000 surge. TRUMP has now surpassed retail sensation stock GameStop (GME), which made history in 2021 and was thought to be the biggest market mania of the 2020s. The initial market frenzy sent TRUMP’s market cap soaring to nearly $6 billion, according to data from CoinMarketCap. Trump launched the meme coin on January 17 through a post on Truth Social and X (formerly Twitter). In his signature style, Trump hyped the token as a rallying point for his movement, declaring, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” The coin’s official website described TRUMP as a token for those who “don’t back down, no matter the odds.” And Trump’s highly-anticipated inauguration is less than 48 hours away. Behind the scenes, the token is managed by Fight Fight Fight LLC, a company promising to release an additional 800 million TRUMP tokens over the next three years. A first batch of 200 million coins hit the market during the launch. Exchanges pile on Other major centralized exchanges (CEXs) were ahead of Kraken. Singapore-based Crypto.com added trading pairs, allowing users to purchase TRUMP using USD, EUR, and 20 other fiat currencies. Meanwhile, Bybit opened pre-market trading for TRUMP/USDT with a call auction on January 18 at 9:35 AM UTC. On decentralized exchanges (DEXs), the token gained traction too. Platforms like Raydium, Orca, and Meteora listed TRUMP. In total, more than ten exchanges, including MEXC, HTX, and CoinW, now support TRUMP trading pairs. But this whole thing is just Trump putting his money where his mouth is. Last summer, he spoke at a Bitcoin conference in Nashville, promising to make America the “crypto capital of the planet.” His sons, Donald Jr. and Eric founded World Liberty Financial, a family-run venture focused on decentralized and centralized finance (DeFi and CeFi). Eric has called TRUMP “the hottest digital meme on earth.” A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
Bitcoin has dropped below the critical $104,268 level, signaling the start of a market correction after an extended period of bullish performance. This pullback has caught many traders off guard as they had expected BTC’s upward trend to continue. The shift in sentiment is driven by profit-taking, caution from institutional investors , and broader economic concerns affecting risk assets. Also, the breach of the $104,268 support level raises concerns about further declines, with lower support zones now in focus. While the correction may feel unsettling, it is a natural part of Bitcoin’s volatile price movements. The next few weeks will determine whether the asset can regain stability and reclaim key support levels or if bearish momentum will persist, potentially leading to a more significant downturn. Bearish Momentum Builds: Bitcoin Struggles Below $104,268 Bitcoin is currently trading below the critical $104,268 level, which increases the likelihood of more declines. BTC’s price action is showing signs of negative movement, with selling pressure outweighing buying interest. As BTC remains below this key support threshold, the risk of deeper corrections grows. However, it’s also important to remember that corrections are a natural part of BTC’s price action, often presenting buying opportunities for long-term investors. If the asset finds support at these lower levels and stabilizes, there’s still potential for a rebound. However, the market remains cautious for now, with bearish momentum continuing to build as Bitcoin struggles to break back above the $104,268 mark. Furthermore, the Relative Strength Index (RSI) aligns with Bitcoin’s current price action, reflecting a cooling of market momentum. As the RSI moves from overbought levels toward neutral territory, it suggests that buying pressure is diminishing. Typically, this shift coincides with the pullback below the $104,268 support level, indicating that the previous bullish strength may be fading. With the RSI trending lower, the market appears to be cooling, suggesting the possibility of further downward movement unless buying interest returns. Can BTC Recover After Dropping Below $104,268? BTC’s recent drop below the $104,268 level has raised concerns about its near-term outlook, but the road ahead remains uncertain. Traders will be closely monitoring how the asset reacts to this key support breach. A successful recovery above $104,268 could signal a potential rebound, causing a move toward the current all-time high of $108,311 for a retest. In contrast, failure to reclaim this level might lead to more drops, testing lower support zones such as the $100,000 mark. Bitcoin’s ability to stabilize and regain upward movement will be crucial in determining whether the recent pullback is a temporary setback or the start of a deeper correction.
The unexpected launch of the Official Trump memecoin has sent shockwaves through the crypto market, particularly impacting Solana’s price dynamics. While the launch drew considerable attention, questions linger about the
The Official Trump memecoin launch captivated the crypto market and could be behind Solana’s new price highs, but the real question is, how sustainable is the rally?
The current President-Elect of the United States, Donald Trump, has caused much controversy in the crypto space after launching his Official Trump (TRUMP) meme coin on Solana (SOL) two days before the inauguration. The announcement on January 17 through Trump’s Truth Social account stated that the token was for him and his “winning.” The initial speculation pointed towards a possible hack, but the confirmation came shortly after, with Trump becoming the first U.S. president to endorse a meme coin. Critics raise ethical concerns Like others, the TRUMP meme coin has been criticized for having no real-world application. Critics and analysts have pointed out that using the Trump administration’s position to endorse cryptocurrency is questionable. YouTuber Stephen Findeisen, also known as Coffeezilla, criticized the timings of the project. In a Jan. 18 post, he called the launch of the coin ‘unethical’ and raised concerns with the reported 80% of the coins being distributed to Trump’s inner circle. Findeisen described the situation as ‘nasty work’ due to the risks of large losses for inexperienced investors. > dropping TRUMP memecoin 2 days before becoming president is nasty work > new SEC/DOJ guarantees no prosecution > 80% of tokens vest to insiders DURING the presidency > most ppl losing money will be MAGA who aren't crypto native > *should* be a crime but crime is legal now ig? — Coffeezilla (@coffeebreak_YT) January 18, 2025 Peter Schiff, an economist who has consistently dismissed cryptos, likened the coin to Bitcoin in sarcasm while making fun of it. Former Trump aide Anthony Scaramucci called it “corruption” and warned it may negatively impact the broader crypto market. Crypto-influencer Max Schwartzman said that it is possible that Trump’s account was hacked, as the TRUMP COIN website has the same design as Trump’s previous NFT project. Others, like 0xCygaar, pointed out that the two have similar technical structures, which only added to the hype. Ok yeah the new Trump memecoin website is deployed almost identically to his previous NFT website. Same cloudflare setup, same deployment with Heroku, same SSL certificate issuer. Very similar HTML structure as before. pic.twitter.com/u1zLD7Vcv7 — cygaar (@0xCygaar) January 18, 2025 Explosive growth amid controversy After the launch, the token only took 15 minutes to reach a market cap of $400 million. The launch also saw SOL, Solana’s native token, rise to an all-time high of $267 due to the buzz around the TRUMP token. However, the TRUMP coin has soared and has recorded more than 12,000% adoption after its launch despite the backlash it has received. The token’s value reached close to $35 and then hovered around $29, taking the market capitalization to $5.98 billion. Successful traders have made a lot of money, with one of them reportedly making $50,000 to $1.1 million within a few hours. However, doubts remain about the prospects of the token in the future. Currently, only 20% of the 1 billion TRUMP coins are in circulation with the remaining 80% to be released over the next 36 months. At the moment, the first twenty holders possess 87.02% of the total token supply, which means only 12.97% remains for all other investors and traders. The developer wallet alone is estimated at about $15.5 billion, which raises questions about developers controlling and manipulating the market. Some critics have claimed that this sort of ownership control weakens the token in question. Crypto analyst JRNY Crypto raised concerns about the lack of concrete information coming from Trump’s advisors to support the project. The FOMO on the TRUMP token pushed many traders into action, causing a rise in the Solana price and an increase in its on-chain activity. Analyst Will Clemente pointed to the chaos, stating that traders have been dumping other assets to buy into the TRUMP phenomenon. However, some analysts have expressed concern that the fast pace may result in a quick drop. Never seen anything like this, SOL ripping and everything on chain nuking as people panic sell to fomo into Trump’s memecoin. What is going on. — Will (@WClementeIII) January 18, 2025 A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.
The dynamics of stablecoin inflows have signaled a bullish trend for Bitcoin, suggesting a robust potential for market momentum. Despite a recent decline in stablecoin exchange activity, the sharp inflows
Phillip Chen appointed Proof of Workforce to drive Bitcoin initiatives in California. Proof of Workforce aims to enhance community engagement and education on Bitcoin. Continue Reading: California Councilman Appoints Proof of Workforce to Propel Bitcoin Initiatives The post California Councilman Appoints Proof of Workforce to Propel Bitcoin Initiatives appeared first on COINTURK NEWS .
The crypto market is buzzing with activity as Solana price surges past $200, signaling renewed investor confidence. Meanwhile, Arbitrum price shows modest gains, reflecting its steady role in Ethereum scaling. However, a lesser-known contender, Web3Bay (3BAY), is quietly stealing the spotlight with a practical approach that transcends speculation. While Solana benefits from ETF optimism and Arbitrum refines layer-2 scaling, Web3Bay focuses on reshaping e-commerce with blockchain-powered solutions. In a market crowded with speculative tokens, Web3Bay(3BAY) delivers a tangible use case: transforming global e-commerce. It’s not just another blockchain project; it’s a solution for businesses and consumers alike, bridging traditional finance and cryptocurrency. Investors searching for meaningful growth opportunities in 2025 might find Web3Bay more compelling than both Solana and Arbitrum. Web3Bay: Transforming E-Commerce with Blockchain Web3Bay is making headlines as the next big disruptor in the e-commerce industry. By integrating blockchain technology into its core operations, Web3Bay is eliminating the inefficiencies of traditional platforms, including high fees and lack of transparency. Instead, it offers users a decentralized, secure, and cost-effective way to engage in online shopping. Central to its ecosystem is the 3BAY token, which enables crypto payments and grants users perks like a 5% discount on purchases and community-driven governance. The presale for Web3Bay has already garnered immense attention, raising over $830,000 and selling more than 220 million tokens. Currently priced at just $0.0045626, the token’s affordability and projected launch price of $0.1959 make it a lucrative opportunity for early investors. With plans to expand into decentralized storage, multi-chain compatibility, and Layer-2 scaling for fast transactions, Web3Bay is well on its way to reshaping global commerce. As Web3Bay expands and adoption increases, the demand for 3BAY is set to skyrocket. By acting now, investors can lock in tokens at their lowest price, well ahead of the next price jump and the growing attention of the broader market. Solana Price Crosses $200 Mark Again As of January 17, 2025, Solana (SOL) is trading at $213.40, reflecting a 5.10% increase from the previous close. The intraday high reached $216.36, with a low of $198.74. The Solana price has been positively influenced by the anticipation of regulatory approval for Solana-based exchange-traded funds (ETFs). Industry experts suggest that the pro-crypto stance of the current U.S. administration may facilitate the approval of these ETFs, potentially attracting significant institutional investments. Analysts project that, upon approval, Solana ETFs could draw substantial investments, further boosting the Solana price.This development underscores the growing confidence in Solana’s ecosystem and its potential for mainstream adoption. Arbitrum Price Sees Modest Uptick Amid Market Fluctuations Arbitrum, an Ethereum layer-two scaling solution, utilizes optimistic rollups to enhance transaction speed and reduce costs. Arbitrum’s native token, ARB, is trading at approximately $0.7820, reflecting a 1.31% increase from the previous close. The token’s intraday performance has seen highs of $0.7871 and lows of $0.7499, indicating moderate volatility. Over the past week, ARB has experienced a 9.32% decline, aligning with broader market trends. Despite this downturn, the 24-hour trading volume has reached $235.32 million, suggesting sustained investor interest. The current market capitalization stands at approximately $3.11 billion, with a circulating supply of 4.21 billion ARB tokens. Takeaway While Solana price climbs on ETF optimism and Arbitrum price steadies amid market fluctuations, Web3Bay (3BAY) is building a foundation for lasting impact. Solana benefits from its thriving ecosystem, and Arbitrum enhances Ethereum’s scalability, but Web3Bay addresses everyday challenges in global commerce—fees, speed, and transparency. This focus on utility positions Web3Bay as more than just an investment; it’s a bridge between blockchain and real-world applications. The platform’s presale performance speaks volumes, with $830,000 raised , over 220 million tokens sold , and an attractive price of $0.004562625 . A projected launch price of $0.1959 signals significant upside for early investors. Features like NFT integration, decentralized governance, and seamless multi-chain functionality make Web3Bay a standout. Join Web3Bay Presale Now: Presale: https://web3bay.io/buy Website: https://web3bay.io/ Twitter: https://x.com/web3bayofficial Instagram: https://www.instagram.com/web3bayofficial/ The post Solana Price Hits $200, Arbitrum Gains Traction, but Web3Bay’s $0.00456 Token Could Be 2025’s Biggest Winner appeared first on TheCoinrise.com .
More stablecoins sent to exchanges means there is more buying power in the market - A bullish development.
Raydium (RAY) has had an exceptionally bullish week, surging over 62% in less than six days and capturing the spotlight in the decentralized exchange (DEX) market. This impressive rally has positioned Raydium as a market leader, with strong momentum that shows no signs of slowing down. The cryptocurrency recently cleared last year’s high, a significant milestone that further bolsters its bullish outlook. Related Reading: Solana Reclaims Monthly And Weekly Support Levels – Expert Sets $330 Target Top analyst BigCheds shared insights into Raydium’s performance, highlighting its relative strength in the market. According to BigCheds, the token’s ability to outperform in a volatile environment signals strong demand and solidifies its position as one of the top-performing DEX tokens. This bullish momentum is drawing increased attention from traders and investors who see the potential for even greater gains in the near term. Raydium’s breakout above last year’s high is a significant technical achievement, paving the way for further upward movement. With market sentiment turning increasingly positive and Raydium showcasing resilience and strength, the DEX is well-positioned to capitalize on its recent momentum. As it continues to outperform, many are watching closely to see just how high Raydium can go in this bullish phase. The coming days will be crucial for determining its next big move. Raydium Reaches Multi-Year Highs Raydium has made a significant move, breaking above the $6.5 mark just a few hours ago and continuing to push higher as the cryptocurrency market gains momentum. This breakout signals strong bullish sentiment for the token, as both technical and fundamental factors align to support further price appreciation. As the leading decentralized exchange (DEX) on Solana, Raydium’s growth and dominance within the ecosystem further bolster its long-term potential. Top analyst Cheds recently shared a technical analysis on X, emphasizing Raydium’s relative strength compared to other altcoins. According to Cheds, RAY’s ability to outperform in a volatile market environment highlights the strong demand driving its rally. The token’s decisive move above key supply levels is a bullish indicator that could pave the way for significant gains in the coming days. Beyond technicals, Raydium’s fundamentals remain robust, contributing to its strong performance. The DEX has cemented itself as a critical component of the Solana ecosystem, providing liquidity and facilitating seamless trading for a wide range of assets. Its expanding user base and consistent innovation reinforce investor confidence, making it a top choice for traders and liquidity providers alike. Related Reading: Dogecoin Leads The Pack As Dog-Themed Coins Rally – “Trump Effect” Sparks Excitement As Raydium builds on its momentum, clearing critical price levels and pushing higher, many investors are now targeting even loftier price points. If the market continues to heat up and RAY maintains its relative strength, the potential for a massive rally becomes increasingly likely. With its strong fundamentals and bullish technical outlook, Raydium is well-positioned to capture further gains, making it one of the most exciting altcoins to watch in this current market cycle. The coming days will be pivotal in determining how far RAY can go in this bullish phase. RAY Breaking Above Key Levels Raydium is currently testing levels not seen since 2022, signaling a remarkable resurgence in its price action. The token’s strong momentum suggests it is primed for further gains, with bullish sentiment dominating the market. However, a potential retest of the $6.5 level could be on the horizon, providing an opportunity for consolidation before the next leg up. As of now, RAY is holding above the critical $6.70 mark, a level that solidifies bullish control. Maintaining this support is crucial, as it underscores market confidence and sets the foundation for continued upward movement. If bulls can defend this level, the next logical target for RAY would be the $7 mark—a key psychological and technical resistance that, once cleared, could pave the way for even greater gains. Related Reading: Ondo Finance Funding Rate Signals Greed Among Investors – Sign Of Strength? Market sentiment around Raydium remains optimistic, with both technical indicators and fundamentals aligning to support its bullish trajectory. As the leading decentralized exchange (DEX) on Solana, RAY continues to benefit from strong utility and growing adoption, further reinforcing its appeal to investors. Featured image from Dall-E, chart from TradingView