- Cryptocurrency markets experienced a significant surge following a recent announcement by former U.S. President Donald Trump.
- Trump’s promise to pardon Ross Ulbricht, the founder of the Silk Road dark web marketplace, has had a notable impact on specific altcoins.
- FreeRossDAO (FREE) and AssangeDAO (JUSTICE) saw dramatic increases in value shortly after the announcement.
Discover how Trump’s latest statements have influenced the cryptocurrency market, driving significant gains in specific altcoins.
Trump’s Pledge Sparks Market Rally
On May 26th, former U.S. President Donald Trump made a significant statement at the Libertarian Party National Convention in Washington D.C. He promised to pardon Ross Ulbricht, the founder of the Silk Road dark web marketplace, if re-elected. This announcement had an immediate and profound impact on the cryptocurrency market, particularly on altcoins like FreeRossDAO (FREE) and AssangeDAO (JUSTICE).
FreeRossDAO (FREE) Sees Unprecedented Growth
According to CoinGecko, FreeRossDAO (FREE) experienced a surge of over 200% immediately following Trump’s announcement, reaching a price of $0.0003698. The token continued its upward trajectory, peaking at $0.002101, marking an astonishing 1816.9% increase within 24 hours. This remarkable rise reflects the market’s response to Trump’s commitment to pardon Ulbricht, who has already served 11 years of his life sentence for creating and operating the Silk Road marketplace.
Ross Ulbricht was sentenced in 2015 to two life terms plus 40 years for his role in the Silk Road, which facilitated anonymous drug transactions between 2011 and 2013. Trump’s statement resonated with many, particularly those advocating for Ulbricht’s release, as evidenced by the enthusiastic cheers and “Free Ross” banners at the convention.
Trump’s Stance on Cryptocurrencies
In addition to his remarks about Ulbricht, Trump used the platform to express his support for the cryptocurrency industry. He criticized the current administration under President Joe Biden for its hostile stance towards cryptocurrencies, accusing it of wanting the industry to “slowly die.” Trump pledged to halt any measures that could stifle the growth of the cryptocurrency sector and opposed the creation of a central bank digital currency.
Trump’s evolving stance on cryptocurrencies is further highlighted by his campaign’s acceptance of crypto donations, signaling a warming attitude towards the industry.
AssangeDAO Also Benefits
Following the surge in FreeRossDAO, AssangeDAO (JUSTICE) also experienced a significant increase in value. CoinGecko reported that JUSTICE saw a rise of over 150% within 24 hours, reaching a price of $0.00008383. This token, which supports WikiLeaks founder Julian Assange, benefited from the positive sentiment generated by Trump’s statements.
Trump’s comments not only boosted specific tokens like FreeRossDAO and AssangeDAO but also injected a wave of optimism into the broader cryptocurrency market. His support for the industry’s growth and innovation stands in stark contrast to the cautious approach of the current administration, potentially serving as a catalyst for future market rallies.
Conclusion
Trump’s recent statements have had a substantial impact on the cryptocurrency market, particularly on altcoins like FreeRossDAO and AssangeDAO. His promise to pardon Ross Ulbricht and his supportive stance on the industry have generated significant optimism among investors. As the market continues to react to these developments, it remains to be seen how Trump’s evolving position on cryptocurrencies will influence future trends and market dynamics.
