Main Points Related to Bitcoin, Web3, Ethereum, and Cryptocurrency:
– Trump and Musk-themed tokens saw mixed reactions in the market after the WSJ report.
– Tesla shares rose, while Trump Media & Technology stock remained steady.
– Bitcoin and Ethereum prices were affected, with BTC hovering below $57,000 and ETH dropping below $2,400.
– Cryptocurrencies historically have performed well regardless of the White House occupant.
Trump and Musk Tokens Market Reaction:
Following the Wall Street Journal report, Trump and Musk-themed tokens experienced varied movements. Elon (ELON) token surged by 9.4%, while MAGA Hat (MAGA) rose by 2.3%. On the other hand, MAGA (TRUMP), the largest Trump-themed token, witnessed a decline of over 17.5% in the past week.
Tesla Shares and Trump Media & Technology Stock:
Tesla shares increased by over 4.8%, continuing their recent recovery and pushing the market cap above $733 billion. Conversely, Trump Media & Technology stock remained relatively stable and has retreated by more than 36% in the last month.
Bitcoin and Ethereum Price Impact:
Bitcoin struggled below $57,000, while Ethereum dropped under $2,400 after the report. The industry views Trump favorably, although cryptocurrencies historically performed well under different administrations – reaching record highs under Obama, Trump, and Biden.
