Two days before taking office, the Trump couple withdrew $65 billion from the cryptocurrency market

In the early hours of today, Trump's wife Melania also launched her own meme coin named MELANIA. The good news is that if you were awake and bought it, it's a tenfold coin; the bad news is that all other coins have plummeted, including TRUMP being cut in half and SOL dropping to 235, not to mention other altcoins, leading group members to exclaim, "Shorting is the only stable way to make money."

Wife Issues Coin, Industry Foots the Bill

Information on the Melaniameme.com website shows that the tokenomics of MELANIA differs significantly from TRUMP, with the specific allocation plan being: team share 35%, treasury 20%, community 20%, public issuance 15%, liquidity 10%.

The biggest difference lies in the token unlocking rules; TRUMP's team share must be locked for 3 years, while the MELANIA team only needs to lock it completely for 30 days. Starting from the 30th day, 10% of the team share will be unlocked first, and then it will gradually unlock linearly from the 2nd to the 13th month until fully unlocked by the 13th month.

As of the time of writing, MELANIA's total trading volume has reached 2.6 billion USD, and its current total market cap has surpassed 10 billion USD.

Yesterday, I was still sharing jokes about TRUMP in the group chat, "Today it hit 47, paying tribute to the 47th president, tomorrow it will hit 78 to celebrate Trump's birthday, and the day after tomorrow it will reach 250 to commemorate the 250th anniversary of the United States."

Upon waking up, I could only share, "Gensler is laughing at us," as the Trump family successfully transitioned from a real estate family to a "crypto family."

Even Bitcoin Magazine, the organizer of the Trump Bitcoin conference, directly posted that "TRUMP is a garbage coin," likely experiencing the same treatment as my wallet.

Bitcoin Magazine was a well-known pro-Trump media outlet during the election period and had invited Trump to speak at its official event, the Nashville Bitcoin 2024 conference, where Trump announced 11 commitments, including firing Gensler upon taking office, establishing a national Bitcoin reserve, and not issuing central bank digital currency, marking the beginning of a crypto-friendly policy era under the Trump administration.

Finally, on the eve of Trump's inauguration, this man, often labeled as crazy, has issued his own meme coin, causing the whole world to go "crazy." Even Coinbase, a U.S. mainstream cryptocurrency exchange known for its compliance and reputation, has listed TRUMP spot trading within 24 hours.

However, regarding Melania also issuing a coin, Coinbase could only politely state, "As of now, MELANIA is not available on Coinbase or Coinbase Wallet. It is very important to verify the availability of the token before making any transactions."

WLFI Public Sale Ends, Small Stove Opened

Meanwhile, the public sale of the Trump family's DeFi project World Liberty Financial (WLFI) has sold out its 20 billion tokens this morning, priced at 0.015 USD each, raising a total of 300 million USD.

Last night, the WLFI project address spent 48 million USD to buy 14,403 ETH at an average price of 33,333 USD within 8 hours, currently holding 28,612 ETH.

Trump's second son, Eric Trump, shared on social media about his company's massive ETH purchase tweet, accompanied by a message that there will be significant "actions" tomorrow.

Last night, the community was immersed in the atmosphere of "Trump issuing meme coins to earn SOL to buy ETH," only to realize this morning that perhaps the real strategy was to FUD Ethereum and buy the dip to add liquidity to their own project.

But there will always be people in the crypto world willing to foot the bill for the feast, so the WLFI project team can only reluctantly open a small stove for their Web3 brothers, stating shortly after the public sale ended, "Due to huge demand and high attention, we have decided to open an additional 5% of the token supply, and the team is working hard to restart sales."

What Does the Community Think?

Although most people's wallets suffered a blow in the early hours just passed, there are still many viewpoints worth pondering in the community beyond just jokes, which are worth sharing.

Alex Xu from Mint Ventures analyzed that Trump's issuance of a coin is no different from selling his themed T-shirts, logo hats, or personal image dolls. Since personal IP peripherals can be sold, naturally, IP coins can also be sold.

"Compared to ordinary peripherals, cultural coins have a global reach, allowing fans to participate without borders, and have financial attributes. If the price rises significantly, they can be sold to those who are interested, unlike MAGA hats that just sit in the cupboard gathering dust. The most affected are those projects whose 'intrinsic value' comes from attention rather than real commercial value and product appeal, including 99% of the AI Agent tokens currently on the market.

When the tide of attention has already shifted, most AI Agent tokens may face not just a correction but a long-term collapse in valuation. Benefiting from this are the L1s where this speculative wave resides, and those projects that sell water to speculative enthusiasts, including Solana, Moonshot, various TG BOTs, and DEXs like Raydium."

Rui from HashKey Capital believes that the price expectation arbitrage opportunity for the Trump family's second meme coin issuance has decreased, indicating "the arrival of the era of issuing coins. The president has defined what altcoins should look like; technical memes are hard to pull off. The previous failure to issue fan coins was due to the lack of utility, which is the best reason. Murad's 'Meme Supercycle' has arrived."

Crypto trader felixhsu.eth stated that in the long run, this is a hurdle on the road to BTC's advancement; all altcoins, Sol, ETH, and memes are all frauds. In the future, whether organizations or individuals, everyone will be selling their own credit. The application of blockchain is to establish a no-threshold casino. As long as there is a profit effect, there will be gamblers participating. The so-called 'innovation' is creating new ways to harvest profits, and the so-called 'build' is constructing more sophisticated scams.

Former Coinbase CTO Balaji Srinivasan stated on social media that meme coins are zero-sum lotteries; they do not create wealth. Every buy order is just matched with a sell order. After the initial surge, prices will eventually plummet, and the last buyers will lose everything. Considering the platform's cut, meme coins are actually negative-sum.

Tonight, Trump will hold his official inauguration ceremony, and at this moment, the crypto world is destined to welcome another carnival.