Trump Tokens Plummet Following US Presidential Inauguration

On January 21, the prices of Official Trump (TRUMP) and Melania Meme (MELANIA) tokens fell from their peak by 29.8% and 53.8%, respectively. The sharp profit-taking was triggered by the absence of any mention of cryptocurrencies during Donald Trump’s inauguration speech.

In his post-inauguration speech, Donald Trump did not mention the creation of a national Bitcoin reserve, which was among his campaign promises.

The cryptocurrency market was left disappointed, having anticipated that digital assets would become a priority area of government policy.

Bitcoin and its main competitors also entered a correction phase. By the end of January 21, the rate of decline had slowed to 0.6-7%.

According to Coinglass, in the past 24 hours, 217,538 trader positions were liquidated for $566 million, with $399 million in long positions.

Experts at Lookonchain recorded a loss of $2.55 million for one market participant in transactions with Official Trump.

A wallet named Ansem(@blknoiz06) sold 194,799 $TRUMP($6.83M) 2 hours ago, losing $2.55M!#Ansem spent 9.38M $USDC to buy 194,799 $TRUMP at $48.14, then sold it at $35.04 for 6.83M $USDC.https://t.co/5oPZOanVCR pic.twitter.com/k0neD0wxcU

— Lookonchain (@lookonchain) January 21, 2025

The wallet labeled #Ansem purchased 194,799 TRUMP for $9.38 million at $48.14 per coin. It later sold these assets at $35.04, receiving $6.83 million.

In recent days, the number of searches for “how to buy crypto” on Google Trends has set a new record. Among “new investors,” some chose to invest in TRUMP and MELANIA.

Earlier, the Trump-associated DeFi project World Liberty Financial (WLFI) acquired $112.8 million in cryptocurrencies on his first day in office.