Recent events in the crypto market include the fast-rising trend of meme coins, with former President
Donald Trump launching his own, dubbed
$TRUMP. This has led to mixed reactions within the global crypto scene leading to an uncertainty around its stability. In its earliest stage, a
whale investor bought $5 million worth of $TRUMP, marking one of the largest purchases since the coin's launch despite Trump's lack of backing towards the project.
As cryptocurrency becomes more mainstream, various platforms such as
Coinbase aggressively battle regulatory bodies, arguing that transactions carried out on-platform are not securities. The trading volume of derivatives platform
Deribit nearly doubled, hitting over $1T in 2024. Meanwhile, meme coins continue to be popular among investors with several promising prospects such as Rexas Finance (RXS), being touted as having massive potential.
There has also been a sharp increase in interest in meme coins like
Shiba Inu and Dogecoin alongside a reluctance to buy the Bitcoin dip. With the
US debt ceiling rising to $36T following Trump's inauguration, Bitcoin saw a correction. Notable personalities including
Dave Portnoy have made significant earnings trading these meme coins. Finally, the market cap of cryptocurrencies hitting a high of $3.1T signals a bright future for digital currencies.
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