Trump’s campaign heavily embraced Bitcoin and NFTs, and his support has ignited optimism across the market. As a result, altcoins and crypto whales have reacted strongly to the buzz ahead of the inauguration.
Recall that Trump historically appeared at the Bitcoin Conference in 2024 and made a purchase using Bitcoin.
So, Trump’s actions reflect his interest in strengthening ties with the crypto industry. It has also secured the support of high-profile crypto executives. To celebrate Trump’s upcoming inauguration, crypto executives hosted a luxury crypto event called “crypto ball“. Some of the attendees were Soulja Boy, Snoop Dogg, and representatives from crypto exchanges Kraken and Crypto.com.
Last night the Donald Trump Inauguration Crypto Ball was unreal!
The event brought together crypto heavyweights like Michael Saylor, David Sacks, and Donald Trump Jr. I still can’t believe I was there.Snoop Dogg, Rick Ross, and Soulja Boy killed it on stage, and the launch… pic.twitter.com/vniHzsfpVl
— Todor Minev (@badtorro3) January 18, 2025
In an unexpected twist, Trump launched a meme coin just days ago. The coin was an instant hit, climbing to a $15 billion market cap. The meme coin has sparked conversations about Trump’s interest in the crypto market and how this will signal a shift toward greater integration of digital assets into the broader economy.
Altcoins will surge after Trump’s inauguration.
History will repeat itself.
Why would this time be any different? pic.twitter.com/Hb1rOVbHBw
— Crypto Rover (@rovercrc) January 19, 2025
Ahead of Trump’s inauguration, several projects have seen a surge in whale transactions. These increases could signal anticipation of favorable policies:
Among altcoins with $500M+ market caps, these are the projects with the largest increases in whale transactions this week:
1) @makerdao $DAI (BNB): +800%
2) @dexenetwork $DEXE: +250%
3) @layerzero_core $ZRO (Optimism): +200%
4) @aave $AAVE (Polygon): +200%
5)… pic.twitter.com/myvPNewIYB— Santiment (@santimentfeed) January 17, 2025
These spikes could reflect growing optimism around Trump’s pro-crypto promises. For example, MakerDAO’s significant uptick across multiple chains highlights the increasing interest in decentralized stablecoins. Similarly, LayerZero’s growth in Optimism showcases the expanding role of interoperability solutions in the market.
The rise in crypto whale activity indicates that institutional investors may be positioning themselves for long-term gains, anticipating a friendlier regulatory environment under Trump.
Most altcoins are currently surging, and there’s been notable inflow across retail and institutional markets. Some experts believe hours after the inauguration could be important for the crypto market. Prices could surge or tumble depending on the president’s first actions. In our next article, we’ll highlight what Trump could do for crypto after his inauguration.
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