Crazy weekend in the crypto world, what can I say?
Yesterday, President Trump launched a memecoin, $TRUMP, on the Solana blockchain. In just one day, it skyrocketed to a staggering $15B market cap. This sent $SOL soaring, outperforming the entire market and reaching an all-time high. Meanwhile, $ETH struggled, bleeding hard in the face of this frenzy.
However, we’re now seeing a reversal. Both $TRUMP and $SOL are pulling back, while $ETH is showing signs of recovery. Interestingly, Trump’s World Liberty Financial (WLF) just purchased $15M worth of $ETH, providing some much-needed support. WLF’s portfolio also includes $LINK, which likely explains the strong bounce in $LINK prices as well.
Honestly, the fact that the President of the United States is launching memecoins feels surreal, but this is the reality we’re living in. The market is shaping up to be a roller coaster, and it’s hard to predict what comes next.
For now, I’m just glad to see $ETH regaining momentum. That said, for a real altseason to emerge, $ETH will eventually need to break out against $BTC. Until then, buckle up for what’s likely to be a wild ride ahead.
Have a great day! 😊
And very long $XRP !!