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COINTURK NEWS > Cryptocurrency News > Today Marks a Historic Day for Cryptocurrencies as Interest Soars
Cryptocurrency News

Today Marks a Historic Day for Cryptocurrencies as Interest Soars

In Brief

  • Trading volumes for cryptocurrencies surged to $400 billion over the weekend.

  • Trump's inauguration may lead to key decisions impacting the crypto market.

  • Trump's meme coins have quickly risen in popularity and market activity.

Ömer Ergin
Ömer Ergin 4 months ago
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This weekend, trading volumes surged to nearly $400 billion, reigniting interest in cryptocurrencies. While prices have been rising rapidly around BTC and some altcoins, reaching such significant trading volumes across the crypto market bodes well for all cryptocurrencies. The implications of this trend will unfold over time, leading many to question why today is historically significant.

Contents
Trump’s Inauguration and Market MovementsTrump’s Meme Coins Surge

Trump’s Inauguration and Market Movements

Since November, today has been crucial for cryptocurrency traders. Trading volumes nearing $400 billion and soaring search volumes for cryptocurrencies echo the excitement of 2021. The influx of new investors signals the start of one of the most thrilling phases of the market cycle.

As Trump officially takes office today, we anticipate numerous executive orders, some of which will directly impact cryptocurrencies. His supportive measures could further boost the appetite of U.S.-based investors for digital assets.

Trump’s Meme Coins Surge

Trump has officially launched his own meme coin, further fueled by his wife’s similar venture, resulting in a significant increase in trading volumes. We are witnessing a transformation where a President, seemingly mocking the SEC, introduces his token.

The meme coins launched by President Donald Trump and First Lady Melania have quickly climbed into the top 50 cryptocurrencies. Notably, TRUMP Coin even surpassed Shiba, the second-largest meme coin by market capitalization, for a time, significantly increasing activity on Solana $169‘s network.

The combined fully diluted valuation (FDV) of MELANIA and TRUMP Coins has exceeded $71 billion. With the WLFI project, the Trump family’s official crypto ventures have reached three, suggesting a sustained supportive stance towards cryptocurrencies. Additionally, the unlocking of TRUMP Coin is scheduled to occur over 36 months, requiring Trump to fulfill his promises before the end of his term.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 20 January, 2025 - 6:35 pm 20 January, 2025 - 6:35 pm
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