The impact of Trumpcoin and the internal and external troubles of Ethereum

2025-02-05 11:59:47

Abstract generation in progress

Preface

On the morning of January 8, Trump posted on Twitter and his social media platform, Truth Social, announcing the launch of a meme coin named TRUMP on Solana. Within just four hours, TRUMP’s market value soared to $16 billion, making it the second largest meme coin after Dogecoin. On January 9, TRUMP’s price continued to skyrocket, with a market value reaching $80 billion, surpassing Dogecoin to become the largest meme coin and closing the gap with SOL, which had a market value of less than $50 billion at the time. In just two days, TRUMP completed the 11-year journey of Dogecoin.

The native token SOL of Solana also continued to rise due to this positive trend. In fact, on January 16th, according to the New York Post, Trump expressed an ‘open attitude’ towards the idea of using digital currencies (such as SOL, USDC, and XRP) issued in the United States as strategic reserves. SOL and XRP (Ripple) are expected to launch spot ETFs this year, and their prices have risen more than 40% in the past week. The voice of flipping Ethereum is gradually rising in the community.

And ETH (Ethereum) and its DeFi tokens (LINK, AAVE, ENA, etc.), which performed poorly in the ‘Trump market’ in December last year, especially Ethereum, which has a market value second only to Bitcoin and is one of the only two with spot ETFs.

TRUMP2.02%

ETH2.26%

SOL1.81%

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