gtag('config', 'G-0PFHD683JR');
Bitcoin

Trump News: Trump Memecoin Draws Eyes but Leaves Crypto Market Without New Investment: Web3 Expert

While Trump Token has drawn significant attention to the crypto market, it has struggled for significant new capital. This is the takeaway from the comparative analysis of Trump’s market cap versus the total value of the crypto market.

Memecoin launched to great effect last week, reaching a market cap of over $10 billion on its first day, but it has since fallen to around $5.3 billion at the time of writing. Meanwhile, the total market cap of all cryptocurrencies fluctuates around $3.5 trillion, according to data from TradingView and Coindesk.

“While $trump is now worth billions of dollars, the total Crypto Market Cap has barely moved. And although it is a curse. Token, and I think what we’ve already done has been on board with a lot of interest.”

“When it came to the actual liquidity and capital that came into the token, very little of it (on a value basis) was from new people. Unfortunately, we ended up moving the hot ball of money around. And you can see this, especially the amount of liquidity on-chain,” Yang added. With ALTS on Solana, the amount of liquidity is quickly transferred to the Solana ecosystem.”

Research conducted by Analysis Chain last week showed that nearly 50% of Trump and Melania Token holders are likely to be first-time Solana token buyers.

Trump market cap vs total crypto market cap. (TradingView)

Trump market cap vs total crypto market cap. (TradingView/Coindesk)

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button