Oh, the crypto market. What a delightful dumpster fire 🔥. Nearly every coin is bleeding red, and Bitcoin (BTC) is down almost 4%, flirting with the $102,550 mark like it’s a bad Tinder date. Ethereum (ETH) isn’t faring much better, dropping below $3,300 and sulking at $3,201. Honestly, it’s like watching a soap opera, but with more math and fewer dramatic pauses.
And let’s not forget the supporting cast: Ripple (XRP), Solana (SOL), Dogecoin (DOGE), and the rest of the gang are all taking a nosedive. The crypto market cap? Down 3.15%, sitting at a cool $3.53 trillion. Trillion. With a T. But hey, who’s counting? 🤑
TRUMP, MELANIA Meme Coins: The Gift That Keeps on Giving (Losses)
Ah, the Trump family meme coins. Because what the world needed was more Trump-branded chaos. The TRUMP token has seen its gains halved, dropping to a market cap of $7 billion. MELANIA? Down from $2 billion to $790 million. Ouch. Around 80% of the TRUMP tokens are owned by Donald Trump’s Affiliated CIC Digital and Fight, Fight, Fight. Because of course they are. 🙄
“While it is tempting to dismiss this as just another Trump spectacle, the launch of the official Trump token opens up a Pandora’s box of ethical and regulatory concerns.” – Justin D’Anethan, independent crypto analyst
Cryptocurrency lawyer Preston Byrne chimed in, predicting a 90% chance of a civil lawsuit. Because nothing says “legitimacy” like a lawsuit, right? 🎭
“Someone will lose money, and some lawyer will come up with a theory and file. The meme coin launch is, purely from a political perspective, an enormous unforced error.” – Preston Byrne
Meanwhile, the Trump Organization assures us that Trump will hand over his business empire to his kids. Because that’s worked out so well in the past. 🤷♀️
Banking on Crypto: Bank of America CEO Weighs In
Bank of America CEO Brian Moynihan thinks the US banking industry will embrace crypto if regulators give the green light. Because banks are just waiting for permission to dive into the chaos. 🏦
“If the rules come in and make it a real thing that you can actually do business with, you’ll find that the banking system will come in hard on the transactional side of it.” – Brian Moynihan
American banks have been hesitant to let customers use crypto for retail transactions, but their institutional arms are already dabbling in spot Bitcoin ETFs. Because why not? 🤔
Ripple (XRP): The Comeback Kid?
Ripple (XRP) jumped 3% after the SEC announced a new crypto task force. Because nothing says “progress” like a government task force. 🎉
“Looking forward to working with the Crypto Task Force to undo the prior administration’s damage.” – Stuart Alderoty, Ripple’s Chief Legal Officer
Ripple’s legal team is clearly thrilled. Because who doesn’t love a good regulatory framework? 📜
Bitcoin (BTC): The Rollercoaster Continues
Bitcoin (BTC) is down over 3% in the past 24 hours, struggling to stay above $102,000. For bullish sentiment to return, BTC needs to stay above $100,000. But let’s be real, it’s Bitcoin. It’s always a gamble. 🎲
If BTC drops below $100,000, we could see a spike in selling pressure. But hey, it’s not like the crypto market is known for its stability. 😅
Ethereum (ETH): The Drama Never Ends
Ethereum (ETH) is down nearly 1%, trading around $3,211. The community is in a public spat with the Ethereum Foundation, because nothing says “decentralization” like a good old-fashioned feud. 🍿
Solana (SOL): Volatility Central
Solana (SOL) is down over 3%, trading around $249. It’s been a wild ride, with SOL setting a new all-time high before dropping dramatically. Because why not keep us on our toes? 🤸♂️
Celestia (TIA): Struggling to Stay Afloat
Celestia (TIA) is down marginally, trading around $4.67. If sellers drive the price below $4, we could see a further drop. But hey, it’s crypto. Anything can happen. 🎢
Algorand (ALGO): Bearish Sentiment Intensifies
Algorand (ALGO) is down over 2%, trading around $0.395. If sellers retain control, the price could drop to $0.35. But hey, it’s not like the crypto market is known for its predictability. 🐻
Uniswap (UNI): Trading in the Red
Uniswap (UNI) is down 2.36%, trading around $12.57. It’s been a rough week for UNI, failing to stay above $15. But hey, it’s crypto. The only constant is chaos. 🌪️
Filecoin (FIL): Sellers Take Control
Filecoin (FIL) is down 1.39%, trading around $4.92. Sellers are looking to drive the price toward $4.50. But hey, it’s crypto. The only thing we can expect is the unexpected. 🎭
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2025-01-23 18:02