TRUMP memecoin slid around 50% after President Donald Trump made no crypto-related announcements on his first day in office. CryptoSlate data shows the token peaked near $70 over the weekend, then dropped to about $35 following the inauguration. Its market capitalization briefly exceeded $15 billion before declining to $7.8 billion as of press time.
A wallet linked to the Trump team holding 80% of the memecoin supply currently holds $31 billion worth of TRUMP.
TRUMP holders (Source: Solscan)Trump signed multiple executive orders on energy, border security, immigration, infrastructure, and more but did not address a promised Bitcoin strategic reserve or reverse the prior administration’s policies, known by some as Operation Chokepoint 2.0. He pardoned 1,500 January 6 protesters, including Oath Keepers and Proud Boys but Ross Ulbricht of Silk Road remains incarcerated. Trump promised to free Ross on day one.
Polymarket’s odds of a day-one executive order peaked around 60%, while the odds of a Bitcoin reserve in the first 100 days collapsed to just 30%.
Bitcoin hovers near $103,000 on Tuesday, down from a recent high of $109,300 reached on Inauguration Day. The industry had anticipated signals regarding Trump’s specific policies on digital assets, but no statements were made.
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