Bitcoin
This Week in Coins: Trump Fuels More Meme Coin Craze as Bitcoin Regains Strength
Illustration by Mitchell Preffer for Decrypt.
It seems that Donald Trump is the latest crypto world star.
After a failed assassination attempt last week, the survival of the Republican presidential candidate triggered a surge in appetite for risk assets such as meme actions-it is a increase in encryption negotiation.
That’s because Trump may well be Wall Street’s favorite. Silicon Valley superstars and crypto bigwigs are betting that the former president and right-wing populist will now win — and they are. putting serious money in the cause.
As a result, digital asset traders appear to be hungry for the riskiest crypto craze of all: meme coins.
The biggest winner in the digital asset market right now is Solana-based pop catwhich has surged 79% in seven days and is now trading at $0.9053, according to data from CoinGecko.
Then another Solana-based token emerged: the popular meme Dogwifhat, which has rose 57% last week, reaching $2.51.
AND Ethereum-based Pepe is the third biggest winner of the week, having shot by 39% in the same period. It is now priced at $0.00001227, CoinGecko shows.
Among the main tokens, Solana—the fifth largest digital currency—also jumped significantlywith traders’ renewed appetite for risk increasing it by 23% in seven days. The Ethereum competitor is now trading at $170.05.
Elsewhere, Ethereum, the second-largest digital asset, has surged in value. It is trading 12% higher than it was at this time last week and entered the weekend priced at $3,504 per coin. According to sources confirmed to decipher the long-awaited Ethereum Exchange Traded Funds (ETFs) would hit the stock exchanges on Tuesday, the date was stated by Cboe yesterday.
Of the other major coins and tokens, many eyes were on XRPthat jumped by more than 18% to $0.58 thanks to rumors that fintech giant Ripple Labs was approaching a settlement agreement with the U.S. Securities and Exchange Commission. It is one of the best performers of the week among the largest market cap assets.
And the largest digital currency, Bitcoin, has also risen significantly: the so-called “digital gold” has risen 15% in the last seven days, ending the week trading at US$66,570.
On Friday, reached its highest price in a monthhitting $67,000 per coin as fears eased over the German government’s Bitcoin liquidations and Mt. Gox refunds. With Trump set to speak at the Bitcoin conference next week, this could mean another rally for BTC.
Edited by Ryan Ozawa.