AsianFin -- Bitcoin and the newly launched Trump-branded memecoin both saw declines on Tuesday, as the first set of policies from the newly inaugurated president did not include any reference to cryptocurrencies.
Bitcoin, which had surged to a record high of $109,071 on Monday when Donald Trump was sworn in as the 47th U.S. President, saw its gains wane, with the cryptocurrency last trading at $101,705.40. Meanwhile, the Trump-branded memecoin, which was introduced just days earlier on Friday night, was trading at $34.4, half of its peak price of $74.59 on Monday, when its market cap exceeded $14 billion. The token had initially launched at approximately $6.5.
Trump’s inaugural address, accompanied by several executive orders covering trade tariffs, immigration, energy deregulation, and even a reprieve for the Chinese short-video app TikTok, left cryptocurrency markets waiting for more clarity on his stance regarding digital assets.
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