Trump's Second Term Hasn't Been Favorable To The Crypto Market, But This Large-Cap Coin Holds Steady

The cryptocurrency market has been caught up in President Donald Trump’s tariff-induced recession fears, with many coins falling sharply from their highs since the Republican took over the White House.

What happened: Since Trump’s inauguration, the total cryptocurrency market capitalization has shrunk by nearly 32%, with more than a trillion dollars in investors’ wealth wiped out.

It’s, therefore, hardly surprising that most coins, including the mega-cap ones, have traded in the red since his arrival.

Market barometer Bitcoin retreated from its $100,000 milestone, falling over 24% since Trump became president. This is despite the POTUS signing an executive order to create a Strategic Bitcoin Reserve.

See Also: Bitcoin Reeling From Trump’s ‘Liberation Day’ Shock But These Gold-Backed Coins Are Killing It This Year

Altcoins such as Ethereum, Solana, XRP, and Cardano, all of which Trump touted as being included in America’s cryptocurrency hoard, have bled heavily, with SOL and ETH down more than 50% since the presidential inauguration.

Memecoin titan Dogecoin shed 61% of its value, becoming the biggest loser among large-cap cryptocurrencies.

The sentiment worsened after Elon Musk ruled out the idea of the U.S. government using Dogecoin for any purpose,  a dampener for many enthusiasts, especially following the establishment of the Department of Government Efficiency. 

On the brighter side, Tron’s native token, TRX, has lost only about 2% since Trump assumed office. Investor confidence was likely boosted after the SEC submitted a joint motion asking a court to halt its lawsuit against Sun and his companies.

Read Next: 

Photo courtesy: Shutterstock