Bitget Daily Digest (January 20) | Following $TRUMP, First Lady launches $MELANIA; Bitget market growth ranks first

Market highlights

1. U.S. President Donald Trump announced the launch of his namesake memecoin, $TRUMP, through his official social media account. The coin's legitimacy was later confirmed by his personal account and his second son, Eric Trump. The market frenzy pushed its market cap to $8 billion, while $SOL surged to a record high. Meanwhile, the Trump family's crypto project, WLFI, which holds assets like $ETH, $AAVE, $LINK, and others, has garnered market attention. Additionally, WLFI advisor Ryan Fang's retweet about $WHY further fueled speculation.

2. Ethereum co-founder Vitalik Buterin took to X (formerly Twitter) to emphasize that promoting $ETH as an asset requires the strength of local organizations and businesses, rather than solely being led by the Ethereum Foundation (EF). On the same day, Buterin purchased Milady #9286 and set it as his profile picture, responding to community calls to support Milady and "lift the ETH curse." Following his statement, the floor price of Milady Maker surged by 41.6% within 24 hours before stabilizing at 5.24 ETH, with excitement continuing to build. 

3. Melania Trump, the First Lady, surprised the market by launching her own token, $MELANIA, sparking a new wave of market enthusiasm. Gas fees on the $SOL blockchain skyrocketed, leading to network congestion that severely affected wallets and decentralized exchanges (DEXs). Amid the chaos, $MELANIA's price soared from $0.2 to $5, while $TRUMP plummeted from a high of $74 to below $30. Significant arbitrage opportunities emerged across on-chain and exchange markets. 

4. According to CCData, Bitget continued its strong market performance in 2024, with its market share increasing by 4.05% to 10.5%, ranking first in growth rate. Spot trading volume surged by 97.6% in December, reaching $159 billion—setting a new annual high and breaking records since April 2024. The fundamentals are expected to significantly empower $BGB. 

Market overview

1. The broader market experienced a general decline, with only $BOKE in the Top 50 registering gains. $TRUMP dominated the market spotlight, achieving a 24-hour spot trading volume of over $10 billion.

2. Due to the Martin Luther King Jr. Day holiday, U.S. stock markets are closed on January 20.

3. Currently standing at 104,785 USDT, Bitcoin is in a potential liquidation zone. A 1000-point drop to around 103,785 USDT could trigger over $570 million in cumulative long-position liquidations. Conversely, a rise to 105,785 USDT could lead to more than $166 million in cumulative short-position liquidations. With long liquidation volumes far surpassing short positions, it's advisable to manage leverage carefully to avoid large-scale liquidations. 

4. Over the past day, Bitcoin saw $4.4 billion in spot inflows and $4.785 billion in outflows, resulting in a net outflow of $385 million. 

5. In the last 24 hours, $TRUMP, $ETH, $XRP, $DOGE, and $SOL led in net outflows in futures trading, signaling potential trading opportunities. 

Highlights on X

1. Haotian: $TRUMP – A stabilizer amid chaos and a declaration of support for on-chain spring

'The launch of $TRUMP couldn't have come at a better time, coinciding with uncertainties surrounding Trump's presidential prospects. As a "presidential coin," it has energized market sentiment with a top-tier narrative and signaled favorable crypto policies. Its short-term surge has not only invigorated the on-chain ecosystem but also acted as a catalyst for liquidity migration from centralized exchanges (CEX) to decentralized exchanges (DEX). Meanwhile, narrative-driven projects like AI agents remain in their infancy, and $TRUMP's emergence provides breathing room, preventing premature, uninformed participation. More importantly, this event showcased DEX's resilience against CEX when backed by a powerful narrative—an effective stress test for the "on-chain spring." The verdict? On-chain wins. Going forward, opportunities within the on-chain ecosystem should remain in focus.

X post: https://x.com/tmel0211/status/1880870656566513698

2. AB Kuai.Dong: Market paradigm shifts and trading strategies amid the Trump craze

The $TRUMP frenzy has captured all market attention, redirecting liquidity across the network and reshaping traditional fundamentals-based investment logic. This centralization is more beginner-friendly but has suppressed other tokens, particularly in the AI agent and DeSci sectors. The future may see more token speculation, a cooling of VC investments, and a potential crisis in KOL credibility. Short-term suggestions include shutting down the info feed to adjust your mindset, riding the $TRUMP wave to align with market dynamics, or quickly engaging in new speculative targets. Key trends to watch include new token launches on exchanges, $TRUMP airdrops, futures trading tied to $TRUMP, and $SOL’s potential rally to $500. While official endorsements suggest the "presidential coin" narrative might gain traction, caution is advised against the risk of excessive FOMO.

X post: https://x.com/_FORAB/status/1880978153402937417

3. Aylo: $LINK defies the trend, poised for a strong 2025

Amid the liquidity black hole caused by $TRUMP, $LINK has stood out as one of the few strong performers. The monthly chart reveals that its RSI is nearing 67, approaching overbought territory for the first time since January 2021. Historically, when RSI reached similar levels, $LINK achieved a 375% gain, hitting an all-time high of $53. Fundamentals remain strong, with $LINK collaborating with Swift and several leading financial institutions on real-world applications. As these partnerships mature, 2025 could mark a significant growth phase for $LINK. Confidence in the market is building, paving the way for a potential breakout.

X post: https://x.com/alpha_pls/status/1881020934934474756

4. @xixi_kawayi: A beginner's guide for on-chain exploration | Tools and tips

The $TRUMP hype has drawn many newcomers into the on-chain ecosystem. For beginners, it’s recommended to use major platforms for deposits and withdrawals to ensure security. Leverage tools like GMGN (on-chain data analysis and monitoring), Dogee (quick order placement and copy trading), and Neo Bullx (advanced on-chain analysis tools) to quickly familiarize yourself with on-chain operations. For basic questions, rely on AI tools like ChatGPT and Perplexity instead of paid groups or aggregated information. The key to growing faster on-chain is to stay rational and find your rhythm.

X post: https://x.com/xixi_kawayi/status/1880962827340705954

Institutional insights

1.Mechanism Capital: $TRUMP is expected to reach a circulating market cap of $100 billion

X post: https://x.com/Rewkang/status/1880954622346739831

2.CryptoQuant: The launch of $TRUMP signals a shift where social influence will be measured by market cap rather than followers

X post: https://x.com/ki_young_ju/status/1880832499917709355

3.1confirmation: Trump's token launch shortly before the inauguration is "predatory" and could hurt many people

X post: https://x.com/NTmoney/status/1880666008148402620

News updates

1. EU finance ministers to discuss topics such as tokenization and wholesale DLT settlement.

2. The SEC charges Nova Labs with allegedly conducting unregistered offerings of crypto and defrauding investors.

3. Massachusetts proposes two additional strategic Bitcoin reserve bills.

4. Incoming White House Crypto Director: A new era of U.S. crypto innovation is just beginning.

Project updates

1. Raydium surpasses Tether in 24h fees, ranking first.

2. aiPool: Founder announces testing of new features, with the alpha version introducing auctioned naming rights and fee-based services.

3. USDC Treasury mints an additional 250 million USDC on Solana.

4. Vitalik Buterin announces significant structural changes to the leadership of the Ethereum Foundation.

5. Stanford University enters a strategic partnership with TheTree.AI and ai16z.

6. South Korean authorities discover over 500,000 identity verification violations at Upbit, with potential fines reaching $34.3 billion.

7. Vitalik Buterin changes his Twitter profile picture to a Milady NFT.

8. AI Agent social network XAI.space announces airdrops to $TRUMP and 24 AI agent token holders.

9. Solana DeFi TVL surpasses $10 billion, hitting a new all-time high.

10. Avalon Labs launches USDa and sUSDa Berachain Vault, achieving a first-day TVL of over $50 million.

Recommended reads

1.The $TRUMP effect on Solana: SOL new ATH coming soon

Solana (SOL) has experienced a remarkable surge fueled by the "Trump effect" and broader crypto trends. The launch of $TRUMP on Solana demonstrated its technical strengths, with the token achieving an $8 billion market cap and robust trading activity. The potential approval of Solana ETFs, supported by favorable pro-crypto policies, further reinforces its position as a leading blockchain platform. With strong short-term momentum, mid-term ETF opportunities, and long-term adoption potential, Solana is poised for substantial growth.

Read the full article here: https://www.bitgets.com/news/detail/12560604507694

2.Solana ETFs: How a 2025 launch could play out

A Solana ETF approval could come as early as this year, aided by pro-crypto policies under the Trump Administration.Whether Solana is classified as a commodity or a security will significantly influence the approval process.JPMorgan analysts estimate that Solana ETFs could bring in cumulative inflows of $2.7 billion to $5.2 billion within their initial months of trading.

Read the full article here: https://www.bitgets.com/news/detail/12560604505464