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Donald Trump, the new President of the United States who will take office with the inauguration ceremony tomorrow, made a big splash in the market with the cryptocurrency steps he took this weekend.
Trump launched a memecoin called Official Trump ($TRUMP) and saw its market cap increase by billions of dollars within minutes. $TRUMP, which continues to rise, is trading at $63 at the time of writing and has a market cap of $12.76 billion.
On the other hand, the second cryptocurrency that benefited the most from these memecoin developments was Solana ($SOL), as Trump launched his memecoin on the Solana network. The $SOL price also broke all-time high price records one by one.
However, Donald Trump's cryptocurrency project, World Liberty Financial, purchased a total of $20 million worth of $ETH in transactions today. We reported this to you as Bitcoinsistemi.com. However, there is a detail that most people miss in these Ethereum purchases, where they were purchased.
According to Onchain data, Trump is buying his $ETH via CowSwap. CowSwap is a decentralized exchange and also has its own altcoin called $COW. After the purchases, the $COW price experienced a significant increase and increased its climb to 25% during the day. The altcoin, which was traded at $ 0.60 before the rise, is trading at $ 0.83 at the time of writing.
*This is not investment advice.