Donald Trump Launched Memecoin, So What Will Happen to Crypto?


The cryptocurrency market is completely turned upside down. Everyone is very confused. I spent 2-3 hours on Twitter today. Some are very supportive. Some are crazy with anger. Donald Trump released his own meme coin. Those who know crypto already know that meme coins have no meaning, they are useless. Those who buy meme coins are playing for its rise on the one hand. In other words, it is a bit like gambling, on the other hand, they support the person who released that meme coin. In this case, they support Donald Trump and try to make money from it. It has risen incredibly fast, and when we look at it right now, it has become the twelfth most valuable cryptocurrency. It has a valuation of around $ 15 billion. According to coinmarketcap information, it has reached a volume of $ 19 billion in the last 24 hours. They released 20% of the total coin into the market, keeping 80% for themselves. In other words, they may dump it in the future and bring the market down. So I have no idea where the price of the official Trump coin will go. I bought a small amount. Because after all, the president of the USA is behind it. I don't think he will let it go down too much, at least for a while. So even though it was late, I bought a small amount at around $66-67. I also own Solana, and it worked out very well for him. Because Trump chose Solana instead of Ethereum. Solana has been generally preferred lately, especially in meme coins. This also worked out for Solana. It has also gained around 60% in the first day.

So how do I evaluate this? Now, Trump coin is a separate issue in itself, we will see how it develops together. I took a small risk there, it is definitely not investment advice, but what is important is how it will affect the crypto market in general? Most of the players in the crypto market are quite angry right now. Because money went out of altcoins and into Trump coin. That's why there have been quite a few declines in altcoins. But I think this is a very positive development in the short-medium term in terms of crypto. After all, the US president said you can issue your own crypto. Moreover, do you know when he said this, on Friday, the head of the US CMB, Gensler, left his job, he was fired, you name it.

There was a big party on Saturday, a crypto party given for Trump. The crypto industry supported Trump a lot, they held such a celebration party before the inauguration ceremony on Saturday. The people there probably knew about this and they have now withdrawn all the money they invested in Trump. This may be another interesting aspect of the matter, but he made this announcement on such an interesting day. At first, people wondered if this was a hack. But later it was understood that the president of Trump coin, the president of the USA, the world's largest economy and the largest military power, says that I have issued an altcoin in my own name. What does this mean, there are no legal obstacles to this anymore. Anyone who wants can issue altcoins as they wish. On the one hand, this will pollute the already dirty crypto world a little more. Many more coins will come to the market, 100%.

But on the other hand, it actually opens up a great vision for us regarding the legalization of crypto and new areas of use. Because for example, a university can go and issue its own crypto if there is a large community among the graduates of that university and the students. Among those who want to enter there and can earn certain amounts of money in this crypto. It can grant certain rights to those who buy this crypto. For example, this was already possible in the past, but it was a very controversial area legally. Now, for example, let's say Stanford did it and issued it. You try to file a lawsuit against it and it says, well, the president of the USA did it, so it is legal. In this context, I think that the way is actually opening up for those who were previously hesitant to look at the crypto world, both as investors and as building something on crypto.

As you know, we went through a similar process with NFTs. Then, since the value of NFTs decreased a lot during the big crypto declines, we forgot about that. Trump also had his own NFT, by the way. Now we are entering a similar structure. But this time, the president of the USA is behind it with all his might. It's not just him, there is a man called the crypto czar in the White House named David Sacks. Many crypto supporters have now reached important positions in the White House. There is already a very technological team there and with all this, Trump coin is also rising. I don't know how high it will go, but the crypto market is changing. When we look at the development of the previous internet, there was a phase like this. First, there were pure internet companies. If we compare this with crypto, companies like Binance, for example. Later, as the internet developed, more traditional institutions started to use the internet. Banks started to use the internet, retailers started to use it, and that's when the real growth of the internet took place. As far as I can see, we are now entering an important step on this path.

Crypto is no longer a closed world in itself, more traditional players, in this case a politician, a US President, other institutions will also come into this business, I think the possibility of them getting involved with crypto is increasing. Because don't forget, firstly, there are currently large etfs related to crypto, secondly, they fired the head of the US Capital Markets Board, a crypto-friendly person is coming instead, and most importantly, the US president says he is now in this business, too. In this context, I see positive things for crypto in the short to medium term. But this will not be reflected in every altcoin. Most likely, there will be a big player change here and the winners of the past may not be the winners of the future. Here, we need to follow Trump and his team closely. I am curious about both what Trump is doing in crypto on his own behalf and what the American state will do in crypto. Trump's guidance on this issue, what the team will do on this issue, we are entering an extremely exciting period.

Let's say that for the first time in a long time, crypto has caught my curiosity again and I will start to examine and follow it closely. I will share articles with you from time to time about this. The US president is taking the oath on Monday. After such an oath ceremony, cryptos may retreat. Because as you know, there is a situation called selling the news. As of Monday, Trump is expected to sign some new executive orders. When we look at this Trump coin he has released, I think he will sign new executive orders that will support crypto a lot on Monday. That's why I am long in crypto right now. Of course, not with all my money, the risks of crypto always continue, but I am long.

The information, comments and recommendations contained herein are not within the scope of investment consultancy. Investment consultancy services are provided within the framework of the investment consultancy agreement to be signed between brokerage firms, portfolio management companies, banks that do not accept deposits and customers. The comments in this article are only my personal comments and these comments may not be appropriate for your financial situation and risk return. For this reason, investments should not be made based on the information and comments in my articles.

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