In less than 24 hours from now, 78-year-old Donald Trump will be sworn-in as the 47th president of the United States of America in an official ceremony at Washington DC, in the presence of world leaders and top industry figures. The moment will also be historic for the crypto community as Trump has chosen to identify himself as “crypto president” and launched a memecoin “Official Trump Coin” just days ahead of his oath taking ceremony.
Ahead of the inauguration day, the crypto community has offered a warm welcome to the crypto enthusiast president elect as crypto markets buzzed throughout the weekend with Bitcoin surpassing $105,000 barrier again and Trump coin hitting $12 Billion market cap. The community has made it clear, they love the maverick prez and they love him to the moon.
In this article, we will discuss the key events that occurred in the crypto domain preceding the much hyped inaugural ceremony of Donald Trump on Monday, as indicative of his support towards crypto policies in the U.S.. So without wasting any more time, let’s jump into the article and discuss five major happenings in the crypto world before the American president’s inauguration.
1. Trump Launches his Official Trump Token
On the morning of January 18, 2025, Donald Trump, the president-elect of the United States of America, launched a meme coin “Official Trump” ($TRUMP) for his fans two days before his oath-taking ceremony.
This meme coin quickly gained traction, with its market cap soaring to over $14 billion shortly after its release. The token features artwork inspired by the event that happened on July 13, 2024, when Trump faced an assassination attempt during a rally in Pennsylvania.
The meme coin already got a hit tag as its value skyrocketed from a few dollars to $75 in just 2 days. Currently, it was trading at the first $69.95 with an astronomical intraday gain of 140%.
2) BTC Crosses $105,000 Mark Again
The crypto community looks positive and excited for the return of President-elect Donald Trump to the White House. This excitement is also reflected in Bitcoin’s performance, as in the last 24 hours it smashed the $105k mark.
For the last three days, Bitcoin has been in a bullish momentum as Donald Trump’s inauguration pours positivity into the crypto investors.
At the time of writing it was trading at the level of $104,612 with a market cap of 2.07 Trillion. Experts believe that the Trump government could bring a more favorable environment for Bitcoin and the crypto space. Moreover, this is one of the main reasons behind the bullishness of the Bitcoin price over the past few months.
3) Murmurs About a Crypto Regulation Committee
According to the sources, President-elect Donald Trump is planning to create a council of members to advise on crypto-friendly policies. The main objective of this initiative is to reduce the regulatory burdens for crypto companies and promote digital asset adoption in his first days in office.
There are murmurs that Trump advisers are discussing revoking the SEC’s 2022 accounting guidance (SAB 121) and ending “Operation Choke Point 2.0,” which allegedly targets crypto companies. As this move will make it easy for the companies and banks to deal with cryptocurrencies.
Moreover, this move could help cryptocurrencies to gain mass adoption and mainstream acceptance.
4) Surge In Altcoins and Memecoins
In addition to Bitcoin’s impressive performance major altcoins as well as memecoins have also witnessed major gains leading up to the inauguration.
Some major altcoins showcased remarkable growth in the last seven days. Solana surged by approximately 41.08% in the last 7 days and 6.33% in the last 24 hours. Chainlink was up by almost 30.09% in the last 7 days and 10.67% in the last 24 hours. The positivity was also witnessed in the XRP price as it was up by almost 24.43%.
Besides altcoins, the real boom was seen in the memecoin market, especially in the PolitiFi Coins. The token related to Trump has seen a tremendous surge. According to CoinGecko data, PolitiFi Coins market cap was surged by almost 1282.8% which is phenomenal and extraordinary.
5) New Celebrity Memecoins Inspired by Trump
Inspired to Donald Trump new “Official Trump” token, now other celebrities are also planning to launch their own memecoins. Rumors are swirling that YouTuber MrBeast might launch a memecoin on the Solana blockchain, following the success of Donald Trump’s Official Trump Token.
Speculation grew after the Solana Foundation’s official Twitter account followed MrBeast, hinting at a possible collaboration. However, there is no official statement or any information has been made yet.
Final Thoughts
As January 20 approaches, the crypto space is witnessing a major change influenced by Donald Trump’s impending presidency. Crypto giants including Crypto.com, Kraken, and Exodus, celebrated the upcoming inauguration of President-elect Donald Trump at a historic crypto-themed ball indicating that the community has already accepted Trump as the “Crypto President”.
However, this is just the beginning of the good days, the crypto space could witness more growth, adoption, and a friendly environment under Trump presidency.
Also Read: Explained: What Is Official Trump Memecoin And How To Buy It?
