First Lady’s Coin Launch Causes Market Stir!

After the launch of MELANIA, Donald Trump’s TRUMP token price dropped by over 30%.

Author

Danielle du Toit
January 20, 2025

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Here's what we've got for you today:

  • Melania Trump’s Token Debut Causes Big Drop in TRUMP Price

  • Crypto Liquidations Hit $1B Over 24 Hours as Bitcoin Plummets

  • Michael Saylor Hints at Another MicroStrategy Bitcoin Purchase

  • Vitalik Buterin Unveils Leadership Overhaul at Ethereum Foundation to Boost Technical Focus

Melania Trump, the incoming First Lady of the United States, launched her self-titled meme coin, MELANIA.

  • Melania Trump launched her meme coin, MELANIA, on Jan. 19, which saw its market cap rise impressively very shortly after its debut.

  • The success of MELANIA led to a 30%+ drop in Donald Trump’s TRUMP token value in just 40 minutes.

  • While MELANIA's website claimed that the token promoted "support" and "engagement," blockchain analytics revealed that almost 90% of the supply is held in a single wallet. Naturally, this raised questions about its distribution and transparency.

Crypto market liquidations over the last 24 hours reached over $1 billion after Bitcoin briefly fell below $100,000.

  • Over the past day, the crypto market saw $1.18 billion liquidated across close to 406,000 traders. The majority, $921 million, came from long positions and $260 million from shorts.

  • Ethereum led the liquidations with over $207.5 million in long positions wiped out, followed closely by Bitcoin, which saw $202 million in long liquidations.

  • Crypto trader "Bluntz" noticed "top signs" in the market, and advised traders to stay cautious. Bluntz also suggested that it may be wise for investors to consider reducing exposure as the market cycle matures.

Michael Saylor posted the SaylorTracker chart on Jan. 19 for the 11th consecutive week.

  • Michael Saylor hinted in a social media post that, “Things will be different tomorrow,” which fueled speculation about MicroStrategy’s Bitcoin strategy ahead of Donald Trump’s inauguration.

  • MicroStrategy bought 2,530 additional BTC on Jan. 13 of 2025, which was worth approximately $243 million. This purchase increased its total holdings to a staggering 450,000 BTC.

  • The company is pursuing its 21/21 plan, aiming to raise $42 billion through equity and fixed-income securities to further fund its aggressive Bitcoin acquisition strategy.

🔄 Vitalik Buterin Unveils Leadership Overhaul at Ethereum Foundation to Boost Technical Focus

Ethereum co-founder Vitalik Buterin announced several leadership changes at the Ethereum Foundation to prioritize technical expertise and strengthen collaboration with developers.

  • The Jan. 18 announcement pointed out that Ethereum is focused on supporting decentralized application developers while prioritizing decentralization, censorship resistance, and privacy.

  • Buterin also shared that the Ethereum Foundation will avoid political lobbying or ideological shifts to stay true to its decentralized principles.

  • After criticism in 2024 over the Foundation’s spending and personnel practices, it implemented a conflict-of-interest policy in May after researchers took paid advisory roles with EigenLayer Foundation.

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