Donald Trump’s on-chain crypto holdings have reached a milestone, surpassing $10 million according to Arkham, onchain reports platform. This surge is primarily driven by the appreciation of the $TRUMP coin, of which Trump holds $7.3 million. This development marks a shift in Trump’s stance on digital assets, aligning with his promises to support the crypto community.
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MAGA Price Analysis
At press time, the price of the $MAGA coin stands at $11.96, with a daily trading volume of $32,091,576. Besides, the coin has seen a 5.50% increase in the last 24 hours, reflecting growing investor interest and confidence. Notably, Trump’s involvement has likely played a pivotal role in this upward trend.
Trump’s commitment to the crypto sector goes beyond personal investment. He has pledged to protect the rights of the nation’s 50 million crypto holders to self-custody. Besides, this includes keeping critics like Elizabeth Warren away from their assets and opposing the establishment of a central bank digital currency (CBDC). Furthermore, this position signifies a considerable departure from his previous skepticism towards cryptocurrencies.
As earlier reported by Captain Altcoin, Trump stated, “I will ensure that the future of crypto and the future of Bitcoin will be made in the USA and not driven overseas. I will support the right to self-custody to the nation’s 50 million crypto holders. I will keep Elizabeth Warren and her goons away from your Bitcoin. And I will never allow the creation of a central bank digital currency (CBDC).”
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Market Analysts’ Perspectives
According to crypto analyst Davie Satoshi (@NFTdavie), the $MAGA coin has just completed its wave 3 and is expected to experience some corrective action in the coming days. This period is seen as an opportune time for believers in the coin to accumulate, with anticipation of a wave 5 rise.
Therefore, Donald Trump’s substantial investment in cryptocurrencies and his proactive stance on crypto policies have implications for the market. Additionally, his support for self-custody and opposition to CBDCs are expected to resonate with many crypto enthusiasts. Hence, this development is a clear indication of the growing intersection between politics and digital finance.
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