Title: Cryptocurrencies Take a Dive Following Trump’s Inauguration: What’s Next?

A cartoon representation of the newly inaugurated US President, Donald Trump, alongside various digital tokens, was on display at a Coinhero shop in Hong Kong, China, on Jan. 20, 2025. This artwork, marking his inauguration, shows the President in front of the iconic White House.

However, the cheerful display seems to contradict the recent developments in the crypto market. Tuesday saw a significant downfall in the value of Bitcoin and other cryptocurrencies. This surprising turn of events followed the hype that had built up amongst investors following Trump’s inauguration.

The TRUMP token, named after the new US President and launched just a week ago, saw a sharp fall of 22% in a day, as per data from CoinGecko. A similar fate was met by a meme token that was released just a day before by Melania Trump, the First Lady. The value of this token plummeted by a shocking 58% within a day of its launch.

Bitcoin’s value also took a hit, falling around 5% to a value of $102,589. Other popular cryptocurrencies like Ether and XRP weren’t spared either, witnessing a decline of 3% and 5% respectively.

The crypto investing community had been optimistic about Trump’s presidency, viewing it as a beneficial turn for the industry. President Trump had earlier promised to implement policies that would favor the growth of cryptocurrencies, including a lenient regulatory framework and a federal bitcoin reserve.

Despite the recent market dip, the future of cryptocurrencies under Trump’s leadership remains to be seen.

Stay tuned as we continue to bring you the latest updates on this developing story.

Note: This article is intended for informational purposes and should not be considered as investment advice.