Last week will undoubtedly remain one of the most eventful in the crypto world throughout 2025, making this week’s crypto news a bit longer than usual. The events of the week offered valuable insights into how news and influential figures can shape the overall crypto market and cryptocurrency values—knowledge that can help investors make more informed decisions.
The market was significantly impacted by today’s inauguration of the new U.S. President, Donald Trump, which brought a wave of optimism. Bitcoin (BTC) hit a new all-time high today, while XRP experienced substantial growth last week, nearing its previous peak. A new meme token, TRUMP, launched with record-breaking growth, followed by the introduction of the MELANIA token. These launches propelled Solana to a new all-time high, further strengthening its position as a major competitor to Ethereum, the world’s second-largest cryptocurrency.
Eventful Developments Around Donald Trump’s Inauguration
This week, the highly anticipated inauguration of the new U.S. President, Donald Trump, had a significant impact on the crypto market. Following Trump’s election in November 2024, the crypto market saw a major boost, propelling Bitcoin to record highs in December. The rally is attributed to Trump’s pro-crypto policies and support, which you can read more about here.
In the week leading up to the inauguration, the crypto market experienced renewed momentum. Today, on the day of the inauguration, scheduled for 6:00 PM local time, Bitcoin has already reached a new all-time high.
According to an unofficial report by the New York Post, Trump is expected to sign an executive order following the inauguration, declaring cryptocurrencies a national priority. This could happen as early as today, upon his return to the White House. Additionally, the New York Post, citing unnamed sources, reported that Trump not only plans to establish a U.S. strategic Bitcoin reserve but is also open to including U.S.-founded cryptocurrencies such as SOL, XRP, and USDC in the reserve. These proposed policies could significantly boost adoption and the value of these cryptocurrencies.
The inauguration is expected to bring fresh optimism and positive changes to the market, but high volatility in cryptocurrency prices is also anticipated. Even hints of positive developments could lead to unprecedented growth in cryptocurrencies such as Bitcoin (BTC), Solana (SOL), Ethereum (ETH), and Ripple (XRP) in the coming weeks.
Bitcoin Hits a New Record High Ahead of the Inauguration
In the week leading up to the inauguration, Bitcoin (BTC) saw consistent growth. On Sunday, January 19, 2025, Bitcoin briefly dipped below €97,000 ($99,000) for a few hours. However, it quickly rebounded, forming a “God’s Candle” (a tall green candlestick on the chart indicating significant and rapid growth, see image) and reached a new all-time high of €105,855 ($109,356) just hours before the inauguration. Traders hailed this as a promising start to an exciting week.
Today’s new record was partly driven by mounting speculation that Trump will establish a U.S. strategic Bitcoin reserve within his first 100 days in office. Contributing to this momentum was the record value of assets held in U.S. Bitcoin ETFs, as well as increasing institutional interest. For instance, Italian bank Intesa Sanpaolo purchased its first 11 BTC, valued at approximately €1 million.
The fact that Bitcoin broke out of the “descending triangle” pattern suggests that this might be the start of a climb to €125,000 ($130,000).
Eventful Week for Ripple (XRP) with a 45% Surge
Ripple (XRP) saw a remarkable start to last week, with its price surging by over 45% to $3.35, nearing its 2018 all-time high of $3.84. This growth elevated XRP to the position of the third-largest cryptocurrency by market capitalization, overtaking USDT.
The primary driver of this growth was speculation that the U.S. strategic crypto reserves would include American-based cryptocurrencies such as XRP. The market also saw significant purchases by large investors, often referred to as whales. Optimism was further fueled by the anticipated approval of XRP ETFs in the U.S., following the removal of SEC Chairman Gary Gensler, and the positive resolution of Ripple’s long-standing legal battles with the SEC.
However, since last week’s peak, XRP’s price has dropped by approximately 10%, primarily due to the lack of official confirmation regarding the New York Post report.
Record-Breaking Growth of the TRUMP Meme Token, Followed by MELANIA
Just days before his inauguration, on January 18, 2025, the President-elect launched his official meme token named Official Trump (TRUMP). Built on the Solana blockchain, the TRUMP token achieved unprecedented growth, becoming the 15th largest cryptocurrency globally. Trump’s net worth is reportedly estimated to have increased fivefold as a result of the token’s success.
However, the crypto market faced another shock on January 19, when Trump’s wife, Melania Trump, launched her own token, MELANIA. This caused the price of the TRUMP token to drop, though it later stabilized. Despite this, the token remains unpredictable and less suitable for new investors.
The release of the TRUMP token appears to have been a strategic move ahead of the inauguration, aimed at reinforcing Trump’s pro-crypto stance and generating excitement among his supporters. The subsequent launch of the MELANIA token drew criticism, with some accusing the family of greed, creating fear and uncertainty in the market for these cryptocurrencies.
Over the weekend, the frenzy surrounding these tokens led to a significant spike in search terms like “buy crypto” and “buy Solana.” The excitement generated by the TRUMP token even attracted individuals who were previously uninvolved in the crypto world.
Solana Reaches New ATH and Strengthens Its Position as a Serious Competitor to Ethereum
The launch of the official TRUMP meme token on the Solana blockchain caused a significant increase in demand and a surge in Solana’s (SOL) price. On January 19, Solana reached a new all-time high of €282.62 ($294.33).
The fact that the TRUMP token was launched on Solana means that its operations rely on the Solana network. All transactions involving TRUMP tokens are processed on Solana, requiring SOL to pay transaction fees.
As the TRUMP token experienced record-breaking growth, interest in Solana and its network surged as well, resulting in a dramatic increase in transaction volume and Solana’s price. Solana’s Total Value Locked (TVL), a key indicator of network performance, grew by an impressive 46%, far outpacing other leading blockchain networks like Ethereum, Tron, and Binance Smart Chain (BSC). By comparison, Ethereum’s TVL actually dropped by 1.87% during the same period.
With its latest success, Solana has further cemented its position as a serious competitor to Ethereum (ETH). Analysts suggest that the current growth could lay the groundwork for even higher valuations in the future, with many remaining optimistic about Solana’s continued rise throughout January.
The past week in the cryptocurrency market has once again highlighted the importance of political decisions and the influence of public figures on market growth and volatility. From Bitcoin’s record highs to the explosive launch of the TRUMP meme token and Solana’s rise, the events signal the growing strength of the market. While optimism remains high, volatility will continue to be a hallmark of the crypto space, making education and careful investment crucial for all investors.
Stay tuned for next week’s updates, and don’t forget to catch up on last week’s crypto news to stay informed!
