Elon Musk to Create "America" Party: How the Crypto Market Reacted
2025-07-06 12:01:03

Main Idea
The article discusses the launch of the America Coin (AP) memecoin following Elon Musk's announcement of forming the 'America' party, and its impact on the crypto market.
Key Points
1. The America Coin (AP) memecoin surged by 120% and reached a market capitalization of $18 million shortly after its launch on Pump.fun.
2. The America Party (AMERICA) coin on Solana (SOL) saw a price increase of over 12,000% in 24 hours, with a market cap exceeding $7 million.
3. Dogecoin (DOGE), Musk's favorite memecoin, was largely unaffected, with a slight price drop of 0.3% and a 59% decrease in trading volume.
4. Elon Musk announced the formation of the 'America' party after a public dispute with Trump over tax policies, with over 65% support in a Twitter poll.
5. The article also mentions other crypto-related news, including a Solana ETF debut and corporate Bitcoin purchases outpacing ETFs.
Description
Last week, Trump's Big and Beautiful Law was passed in the United States. According to Musk, the president's initiative is ”crazy” and ”destructive.” Therefore, he decided to create a party, which is now being actively discussed in both political and cryptocurrency circles. What's happening in the crypto market Just a few hours after Musk's statement, the America Coin (AP) memecoin was launched on the Pump.fun platform. Its price soared by 120%, and its capitalization reached $18 million. Tradin...
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