Bitcoin retreated from a record high on Monday as Donald Trump was sworn in as 47th president of the United States, his second presidential term, following a weekend during which his own newly-launched digital token rattled crypto markets.
Bitcoin climbed to a fresh record as the US prepares to inaugurate Donald Trump to his second presidential term, following a weekend during which his own newly-launched digital token rattled crypto markets.
The original digital asset gained as much as 5.5 percent to US$109,241 yesterday. The rally came after Trump and his wife, Melania, unveiled memecoins, with Trump’s reaching a market capitalization of more than US$15 billion on Sunday before declining sharply.
US President-elect Donald recently launched the $TRUMP meme coin, which is officially available on Robinhood, a US-based electronic stocks and cryptocurrency trading platform. Robinhood made the announcement on the social media platform X with the caption, “OFFICIAL TRUMP ($TRUMP) is now available to trade on Robinhood.”
In a shock development in the crypto market, $903 million in Bitcoin (CRYPTO: BTC) was moved in several transactions within the last 24 hours, sparking widespread speculation about the
Bitcoin drops from record high amid market volatility and Trump’s inauguration. Memecoins like Trump Token fuel mixed reactions in the crypto world.
"The reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun," Trump’s appointed AI and crypto czar David Sachs said Friday evening while speaking to industry insiders at a crypto industry sponsored black tie gala in DC.
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Crypto-centric stocks like NVDA, HOOD, SHOP, IBKR and COIN are likely to benefit from the ongoing Bitcoin rally.
We recently published a list of 10 Stocks That Received Analyst Approval This Week. In this article, we are going to take a look at where Robinhood Markets Inc. (NASDAQ:HOOD) stands against other stocks that received analyst approval this week.