Bitcoin reaches all-time highs as trump-backed coins surge in value
Date
1/21/2025 7:08:17 AM
(MENAFN) Bitcoin reached new all-time highs on Monday, coinciding with the US presidential inauguration of Donald Trump, a notable advocate for bitcoin. Meanwhile, meme coins associated with trump and his wife experienced significant increases in value.
The TRUMP coin, launched on January 18, fluctuated between $38 and $75 over the past 24 hours, surging by 700 percent within just two days.
Currently, TRUMP's market capitalization stands at approximately USD11 billion, with a 24-hour trading volume of USD47.4 billion.
In addition, the MELANIA coin, introduced by the incoming First Lady just 12 hours ago, saw a 50 percent increase, reaching USD11.
MELANIA’s market cap is USD2.13 billion, with a trading volume of USD4.55 billion.
It is highly unusual, if not unprecedented, for a president-elect's family to engage in selling such products. However, Trump has made headlines by promoting various items, including Bibles, non-fungible tokens (NFTs), and sneakers.
Following Trump’s victory in the November elections, markets have anticipated favorable developments for cryptocurrencies, as he promised that the US would become the "crypto capital" of the world.
"If crypto is going to define the future, I want it mined, minted, and made in the USA. It will not be made elsewhere," Trump declared last July.
MENAFN21012025000045016953ID1109112584
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.