Disappointing TRUMP launch leads to SOL crash, can this $0.08 altcoin recover losses?
The crypto markets and investors got a rude awakening as incoming US President Donald Trump launched a new meme coin on January 18.
The TRUMP coin was hyped and social media tried their best to boost this on the cryptocurrency markets and managed to attract billions of dollars of investment.
The TRUMP coin launch was done on the Solana (SOL) network, which helped boost Solanas price as well, while other networks like Cardano, Ether, and XRP were left crashing as the hype pulled in investor interest from all these and other major crypto coins.
The global crypto market cap this morning is $3.11 trillion, while CMCs 100 Index is up almost 3%. The overall crypto market volume increased by 8% percent to $371 trillion over the last 24 hours. However, it all proved to be short-lived as TRUMP coin is trading down by 25% as the hype fizzled out.
Solana (SOL) Price Down 12%
Solana (SOL) was launched in 2020 as an alternative to the Ethereum network and it is rapidly gaining ground as a strong developer network. Solana (SOL) hosts some of the most popular coins like Dogecoin and popular decentralized finance (DeFi) and gaming projects. Solanas price was already shooting up when the launch of the TRUMP coin surprised everyone.
Source: CoinMarketCap
Theres no question that Solanas price got a boost from the TRUMP coins launch, but it proved to be temporary. The Solana price is currently around the $259 range right now as it dropped from $273. The drop in TRUMPs coin served to pull SOL down as well. Solanas price is down almost 12% in the daily charts while its market cap is $126.2 billion (down 11.3%) and its market volume is $32.14 billion right now.
TRUMP Coin Down 27%
The coin, named after President-elect Donald Trump, was launched as a new crypto token. Although it was meant as a gesture of support for the incoming US President, and not as an investment option, it has soared in value for a short while. The launch of the TRUMP coin has sent the markets into a frenzy. While many lined up to add the coin to their portfolio, others did it to show their support.
Source: CoinMarketCap
Many others took this as a sign of a pro-crypto administration starting and hoped for better returns from investing in other altcoins. Meanwhile, the TRUMP coin launch pulled Solanas price up initially before pulling it downwards as the new coin tanked.
IntelMarkets (INTL): The Future Is With AI-Powered Trading
While established projects like Solanas prices start to dip low, IntelMarkets (INTL) is picking up a pool of dedicated traders and investors, who are attracted by its AI-powered trading ecosystem as well as high return potential.
With over $6.8 million raised in its presale and a current token price of approximately $0.082, the platform is geared up to deliver high value. By the next stage, prices will rise further. A major feature of INTL is the Quantum X Wallet
This will give IntelMarkets (INTL) users access to a highly secure, user-friendly wallet solution to manage all digital assets. This wallet is quantum-proof, which means that your valuable crypto holdings are safe from quantum computing attacks.
Conclusion
Solanas price movements, as well as IntelMarkets presale gains, tell a story of changing direction in the crypto space. Both these different but high-utility altcoins offer a great combination of steady but explosive gains.
The prospect of using state-of-the-art AI technology, along with unparalleled growth potential, is drawing in savvy investors to the project. Make sure not to miss the IntelMarkets (INTL) presale stage and its opportunities for explosive growth. Check out the website for more and become part of the growing community of investors putting themselves in good stead for life-changing returns.
Check out the IntelMarkets for more information about the technical platform, or Join the Presale for exclusive benefits.
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.
Text source: NullTX
