Bitcoin hit a new all-time high of $108K on Monday as the U.S. awaits the inauguration of pro-crypto President-elect Donald Trump later today. The price of Ethereum also surged following news of World Liberty Financial’s recent purchases of 14,403 ETH. The rise in Bitcoin price coincides with the Trump family’s latest foray into the crypto market with the launch of the TRUMP and MELANIA tokens. Although the memecoins sucked liquidity from crypto markets, Bitcoin and Ethereum prices continue to rise ahead of Trump’s inauguration. Bitcoin soars toward $110K ahead of Trump’s inauguration 📈Market Overview $BTC hit a new all-time high, soaring past $108K. $ETH also surged following news of World Liberty Fi purchases. The spotlight is on $MELANIA, launched by Melania Trump, with a market cap of $1.8B. $TRUMP memecoin plunged 50% following this news. Market Cap:… pic.twitter.com/gHsKbUh6KP — CryptoRank.io (@CryptoRank_io) January 20, 2025 The United States and the world are waiting for the inauguration of the pro-crypto Donald Trump as the 47th President of the United States on January 20. The event will take place inside the rotunda of the U.S. Capitol building at 12:00 pm ET. The crypto-friendly president promised during his campaign to use his executive powers to resolve the regulatory hurdles holding crypto back. He also plans to promote digital asset adoption in his first days in office. Data from CoinMarketCap revealed that Bitcoin’s price reached a new all-time high of $108K on Monday, hovering around $107K at publication time. The newly elected president launched a $TRUMP memecoin on Friday. As of the time of publication, the coin has a market cap of $11.62B. The pro-crypto president revealed that the cryptocurrency was celebrating “WINNING” the presidential election and his upcoming inauguration. Data from CoinMarketCap shows that the coin is currently trading at $57, with a 783% rise in the past seven days. Incoming first lady Melania Trump also launched the $MELANIA memecoin yesterday. The Kobeissi Letter revealed that the launch of the MELANIA token caused a 40% drop in Donald Trump’s memecoin. Data from CoinMarketCap showed that the MELANIA coin is currently trading at $10 at the time of publication. After MELANIA launched, Donald Trump Jr. the president’s son, highlighted that his family was “extremely proud” of what they and World Liberty Financial continue to accomplish in crypto. ETH price surges with World Liberty Financial purchases World Liberty Financial (WLFI) is a Donald Trump-backed decentralized platform that launched in September with 100 billion tokens created. The crypto project announced today that it sold 20% of its token supply. WLFI also revealed that it will open up an additional block of 5% of token supply due to massive demand and overwhelming interest. The project disclosed that the tokens can’t be sold. Instead, they will be used as the governance token for the project’s yet-to-be-launched decentralized crypto trading platform. Lookonchain also revealed that World Liberty Financial recently made a major purchase of 14,403 ETH worth a total of $48M USDC. The crypto project’s holdings in ETH reached 42K ETH, worth approximately $141 million at current prices. Although the crypto project has not disclosed the specific reasons for ETH acquisition, the price of ETH has soared in the meantime. Data from CoinMarketCap showed that Ethereum was trading at $3,356 which is a 4% increase from the previous day. Eric Trump, Donald Trump’s son and advisor to World Liberty, suggested further developments to the crypto project. He reposted the news about WLF’s ETH purchases and wrote, “Wait until you see what they do tomorrow.” Tron founder Justin Sun is the project’s advisor and largest investor with a $30 million token purchase in November. Sun revealed yesterday that he will invest “an additional $45 million” into World Liberty, bringing his total investment to $75 million. The crypto entrepreneur just purchased $15M USDT to acquire $1B WLFI. The crypto project also purchased four Ethereum Name Service domains on January 19 just before Trum’s inauguration. The ENS domains were worldliberty.eth, trumpcoin.eth, erictrump.eth, and barrontrump.eth. From Zero to Web3 Pro: Your 90-Day Career Launch Plan
