As it’s recognized, the brand new President of the US, Donald Trump, launched a memecoin yesterday and made a giant splash within the cryptocurrency market.
After inspecting onchain knowledge, it was claimed right this moment that Trump's wallets began actively buying Solana. So how true is that this declare?
Trying on the knowledge, we see that Trump is continually transferring liquidity to TRUMP swimming pools on Meteora, a memecoin launch platform. Nonetheless, the charges accrued in these swimming pools are withdrawn by the crew and Solana is actively bought. Nonetheless, there’s yet another element.
It was noticed that the crew, which was seen to have bought a complete of $7 million price of SOL, despatched these SOL cash on to OKX and doubtless bought them. In different phrases, plainly Trump and his crew haven’t any intention of accumulating SOL within the present state of affairs.
Nonetheless, a current article within the New York Submit claimed that Trump was open to the usage of US-based cryptocurrencies reminiscent of SOL and XRP as a strategic reserve within the US. Contemplating that Trump launched his newest memecoin on the Solana community, it may be stated that he’s not less than extra optimistic about SOL than different cryptocurrencies.
*This isn’t funding recommendation.
