Memecoins
This Week in Coins: Trump Stirs Meme Coin Craze as Bitcoin Recovers
Illustration by Mitchell Preffer for Decrypt.
It seems that Donald Trump is the last star of the crypto world.
Following a failed assassination Last week, the survival of the Republican presidential candidate triggered a boom in appetite for risk assets, such as meme actions-and one Cryptocurrencies surge trade.
That’s because Trump may well be Wall Street’s favorite. Silicon Valley superstars and cryptocurrency bigwigs are betting that the former president and right-wing populist will now win — and they are. put a lot of money in the cause.
As a result, digital asset traders appear to be hungry for the riskiest cryptocurrency of all: Meme Coins.
The biggest winner in the digital asset market is now Solana-base Popcatwhich has increased by 79% in seven days and is now trading at $0.9053, according to data from CoinGecko.
Then another Solana-based token surged: the popular meme Dogwifhat, which 57% increase over the past week to reach $2.51.
And Ethereum-base Grandpa is the third biggest winner of the week, with exploded by 39% over the same period. Its price is now $0.00001227, CoinGecko reports.
Among the main tokens, Solana—the fifth largest digital currency—also has made a significant leapwith a renewed appetite for risk among traders pushing it up 23% in seven days. The Ethereum competitor is now trading at $170.05.
Elsewhere, Ethereum, the second-largest digital asset, has seen its value surge. It is trading 12% higher than the same time last week and entered the weekend at a price of $3,504 per coin. According to sources confirmed to decipher what has been long awaited Ethereum Exchange Traded Funds (ETFs) is expected to hit the stock market on Tuesday, the date has been confirmed by Cboe yesterday.
Among other prominent coins and tokens, many eyes were on XRPwho jumped by over 18 years old% to $0.58 on rumors that fintech giant Ripple Labs was on the verge of reaching a settlement agreement with the U.S. Securities and Exchange Commission. It is one of the best performing assets of the week among the largest market capitalizations.
And the largest digital currency, Bitcoin, is also up significantly: The so-called “digital gold” is up 15% over the past seven days, ending the week at $66,570.
On Friday, he reached its highest price in a monthhitting $67,000 per coin as fears eased over German government Bitcoin liquidations and Mt. Gox refunds. With Trump expected speak at the Bitcoin conference Next week, this could mean further upside for BTC.
Edited by Ryan Ozawa.