The search for the term “buy crypto” has reached a yearly high as the crypto space goes abuzz in anticipation of Donald Trump’s inauguration.
According to Google Trend data shared on X, the search for “buy Solana” has also increased in a similar pattern, raising suspicion that it may have something to do with the newly launched TRUMP token on the Solana network.
Bitcoin has also reached a new all-time high of over $109,000 with this increase in search volume, indicating that new investors are entering the space.
Why Trump inauguration is a big deal
If no one else has looked forward to the Donald Trump presidential inauguration, crypto enthusiasts and investors have.
During his campaign, the president-elect who is expected to take over today promised that he would make the U.S. the crypto capital of the world. He even went ahead to promise a Bitcoin national reserve.
The anticipation of his inauguration coinciding with a sharp rise in the search for ‘buy crypto’ is therefore something to be expected by those who have been paying attention.
He also recently launched a memecoin, Official Trump (TRUMP) which has increased rapidly to over $70 within a few days.
The sharp appreciation of the new memecoin is also clearly linked to anticipation of the inauguration which is expected to usher in a crypto-friendly government in the U.S after four years of crypto crackdown.
As Trump takes office today, it the search for these terms will probably increase, as those who have been on the sidelines will likely join in the crypto ride ahead.
Market effect
As the search for ‘buy crypto’ reached a yearly high, it has also impacted the market, as new investors are entering the market.
The asset most impacted is Bitcoin, which has reached a new all-time high of over $109 just a day to the Trump inauguration.
What do you think?
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