Donald Trump, the new President of the United States who will take office with the inauguration ceremony tomorrow, made a big splash in the market with the cryptocurrency steps he took this weekend.
Trump launched a memecoin called Official Trump (TRUMP ($60.67)) and saw its market cap increase by billions of dollars within minutes. TRUMP, which continues to rise, is trading at $63 at the time of writing and has a market cap of $12.76 billion.
On the other hand, the second cryptocurrency that benefited the most from these memecoin developments was Solana (SOL ($269.92)), as Trump launched his memecoin on the Solana network. The SOL price also broke all-time high price records one by one.
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However, Donald Trump’s cryptocurrency project, World Liberty Financial, purchased a total of $20 million worth of ETH ($3,383.70) in transactions today. We reported this to you as Bitcoinsistemi.com. However, there is a detail that most people miss in these Ethereum purchases, where they were purchased.
According to Onchain data, Trump is buying his ETH via CowSwap. CowSwap is a decentralized exchange and also has its own altcoin called COW. After the purchases, the COW price experienced a significant increase and increased its climb to 25% during the day. The altcoin, which was traded at $ 0.60 before the rise, is trading at $ 0.83 at the time of writing.
Chart showing the rise in COW price.*This is not investment advice.
Continue Reading: Everyone’s Talking About Trump’s Memecoin, But Another Altcoin Linked To The Trump Story Has Been Discovered – Price Spikes
