Research Platform Reveals Insiders Dumped TRUMP Token Before Crash

10x Research argues that insiders received the TRUMP token at the pre-inaugural Washington crypto ball before it became available for public trading. The research firm suggests that these early investors capitalized on the opportunity before major exchanges rushed to list the coin as its value surged past $60, briefly touching $70.  However, the price soon collapsed to $10, leaving retail traders with billions in losses. This pattern mirrors previous speculative cycles, including the 2021 NFT boom and bust, where early participants benefited while later investors faced heavy losses. The TRUMP coin saw its value drop by 50% within a week. On-chain data revealed that early buyers quickly liquidated their holdings, using retail traders as exit liquidity. This sell-off significantly impacted the Solana meme coin sector, which had been driving substantial market activity. As a result, the downturn reinforced broader concerns about the volatility of speculative digital assets and the risks associated with hype-driven trading. Solana Ecosystem Tokens Face Heavy Selling Pressure The broader market downturn has also impacted key tokens within the Solana ecosystem . Raydium’s RAY token, a major automated market maker, has seen a 70% price decline in just 30 days. Meanwhile, Jupiter’s JUP token, which operates as a decentralized exchange on Solana, has dropped by 42%. Likewise, Solana’s SOL token has lost 41% over the same period. The rapid declines suggest a waning interest in speculative tokens linked to recent market trends. Pump.fun, a leading meme coin launch platform, has also seen a dramatic shift. Over the past year, it has facilitated 8.4 million meme coin launches, with activity peaking around President Donald Trump’s inauguration.  During the Christmas to inauguration period, 1.7 million meme coins were launched. However, daily launches have now dropped from 62,000 to 24,000. Despite lower meme coin creation costs due to Solana’s price drop, participation has declined significantly. Pump.fun Slumps Back to Hundreds Adding to the woes, Pump.fun’s revenue stream has suffered , with daily earnings plummeting to their lowest in seven months by March 8. Previously, Pump.fun maintained daily fees above $1 million. However, current data shows 24-hour fees and revenue at $108,124.

Trump’s Bitcoin Reserve Order Raises Questions President Donald Trump’s involvement in the crypto sector has continued to raise questions. Edward Farina, founder of Alpha Lions Academy, pointed out liquidity challenges, attributing part of the instability to Trump’s engagement with the sector. Meanwhile, Trump has shifted focus toward Bitcoin, signing an executive order on March 6 to establish a strategic Bitcoin reserve for the United States. The order directs the Secretary of the Treasury and the Secretary of Commerce to develop budget-neutral strategies for acquiring Bitcoin. This condition aims to facilitate government Bitcoin purchases without incurring costs for U.S. citizens, potentially reducing public opposition. In the days following the announcement, Bitcoin’s price experienced volatility, briefly falling below $77,000 before recovering. As of the latest data, Bitcoin is trading at $81,440, reflecting a 1.09% decline in the last 24 hours and a 3.04% decline over the past week.