Today crypto market extended its recovery amid Trump’s swearing-in ceremony. The global market cap saw a 2.74% increase to $3.72 trillion while the total market volume rose 111.44% to $394.75 billion.
These greener figures have been fueled by anticipation of favorable crypto regulations led by Trump’s pro-friendly administration. As a result, the fear and greed index stands at 76, meaning that investors have the FOMO and are therefore increasingly buying tokens to build their positions.
Bitcoin climbed to $108k
Today, Bitcoin displayed expanded bullishness, reaching a new AHT of $108,744 on Jan.20, 2025. Its trading volume saw a 141.70% increase over yesterday, indicating a recent increase in market activity. Bitcoin’s hitting a new ATH comes when Donald Trump is set to be installed as the next US president today.
Altcoins are green
Today, almost all top 10 cryptocurrencies are seeing green except Solana. Ethereum surged 4.95% to currently trade at $3,386.72. XRP is also up 3.99%, currently hovering at $3.26.
BNB experienced a 1.16% rise to trade at $699.09 while Dogecoin is also up 1.30% to read at $0.381. Lastly, Cardano and TRON are also up 5.32% and 3.10% to stand at $1.49 and $0.2418 respectively. Solana is 1.92% down to currently moves at $267.75.
Altcoins are green as investors shifted their appetite to alternative cryptocurrencies ahead of Trump’s inauguration today. The renewed rally happened amid increasing expectations of favorable crypto legislation under Trump’s regime.
In the past, Trump signaled support for cryptocurrencies during his campaign. Last Friday, he launched his meme coin, Official Trump, which saw a tremendous rise over the past weekend, alongside the recovery of the wider virtual currency market.
Today, Melania Trump launched her meme coin, popularly known as Melania, which so far is experiencing tremendous growth with its market cap hitting $1.8 billion after its launch. However, the Official Trump coin saw a massive 50% decline following Melania memecoin’s debut.
Top gainers
Today, emerging altcoins managed to retain their dominance, though new faces appeared as the best performers in the crypto market.
1DollarCTO took the spotlight after it emerged as the top gainer with a whopping 1704% rise. STONKS SOL followed with a massive 115% surge.
DOGELON MARS came third with an incredible 85.5% increase. NEWTON PROJECT and USA ON CHAIN closed today’s top gainers’ list with remarkable 75.5% and 73.9% rises respectively.
Latest news today
Today, the following are the latest events that took place in the digital asset market:
- Trump’s crypto DeFi project, World Liberty Financial, bought an additional 4,563 Ethereum worth $15 million to expand its total ETH holdings to almost $100 million. The purchases were made a day before Trump’s swearing-in event.
- Meanwhile, Justin Sun further invested an additional $45 million in Trump’s World Liberty Financial, bringing his total investment of $75 million into the crypto DeFi platform.
- Lastly, Robinhood announced the listing of the Official Trump coin to provide users with the ability to trade and invest in the meme coin.
