Bitcoin, Ethereum, and the broader altcoin market were rattled by $980 million of liquidations today due to a public spat between Elon Musk and Donald Trump. But tensions appear to be easing, and the market is settling.
A 336% uptick in 24-hour liquidations reflects the market’s turmoil as Musk called for Trump’s impeachment, and Trump menacingly threatened to cut off Musk’s various government contracts.
Bitcoin has dipped 3.1%, and Ethereum is down 5.6%. The total crypto market cap has slumped 3.7%. However, an X user called @Fab25June, who had 184 followers, called for the US president and the world’s richest man to “cool off and take a step back for a couple of days,” to which Musk responded, “Good advice. Ok, we won’t decommission Dragon.”
It’s a sign that tensions may begin to cool between the two influential figures, and that’s calming fears among traders. So, with prices currently at discounted levels and potentially on the verge of a recovery, what is the best cryptocurrency to buy now?
Solaxy
Solaxy is building the world’s first Solana layer 2 blockchain. It utilizes off-chain computation and transaction bundling technology to enhance scalability for Solana, a network already renowned for its impressive speeds.
Currently, Solana can compute 6,500 transactions per second (TPS). Solaxy aims to add an extra 10,000 TPS. This will make Solaxy cheaper, faster, and more reliable than the Solana layer 1 chain. At its core, Solaxy aims to tackle Solana’s congestion issue, which leads to longer wait times and increased rates of transaction failures during periods of peak network activity.
It’s currently undergoing a presale and has raised over $44 million so far, showing incredible demand.
It’s the biggest presale to ever take place on Solana. So as tensions between Trump and Musk subside, and the market recovers, there is real potential for $SOLX to boom.
BTC Bull Token
Bitcoin is a hedge against currency debasement, which is the underlying reason for Musk publicly attacking Trump. This follows the Republicans’ “One Big Beautiful Bill,” which plans to increase US debt by $2.4 trillion.
However, while investing directly in Bitcoin may yield substantial returns for high-net-worth individuals, BTC Bull Token could be a better alternative for investors seeking to maximize return on investment.
It’s a Bitcoin-themed meme coin with a viral allure, but it’s also the first-ever cryptocurrency to pay real Bitcoin rewards.
It’ll track Bitcoin’s price and run airdrops at key milestones. The first airdrop will distribute free Bitcoin to holders when the price reaches $150,000, and another will occur at $200,000. There’ll even be a $BTCBULL airdrop when the Bitcoin price hits $250,000.
As more investors exit traditional assets in favor of Bitcoin, its price will rise, and that directly benefits $BTCBULL investors.
The project is undergoing a presale and has raised $6.8 million so far. However, the presale will end in 24 days.
Its promising use case and early stage signal that $BTCBULL is primed for huge gains.
Dogwifhat
Dogwifhat led the Solana meme coin market through most of 2024, and despite falling off in early 2025, it’s gunning for its crown again.
It currently trades at $0.85 and is up by a whopping 50% this month. Its top competitor Bonk, alongside OFFICIAL TRUMP, Popcat, and others, are all in the red.
Dogwifhat is quickly regaining pace and outperforming its Solana peers, showing that it has the full attention of meme coin fans.
The market is down today, but we’re already seeing what appears to be Musk extending an olive branch to Trump by saying, “We won’t decommission Dragon.”
If the market begins to recover, we could see $WIF continue to print strong gains in the weeks ahead.
Tron
The US infighting spotlights concerns, both regarding the economic security of the US and the regulatory privileges that crypto has faced under the GOP administration. With cracks in the Trump cabinet and Musk even calling for his impeachment, it’s unsurprising that the market is shaky today.
The likelihood is that this feud will soon be forgotten, and crypto prices will begin to recover. But there’s one notable trend in the market today: Tron, a blockchain based in Asia, not the US, has outperformed the market with a 1% gain.
It appears that Tron is proving a safe haven today away from the turbulent pantomime of US politics. It’s based in Singapore, a nation that, at least from the outside, approaches things in a much more orthodox and predictable manner than the US has in recent years.
Tron is a scalable layer 1 blockchain known for its deep stockpile of stablecoins. It has a stablecoin TVL of $77 billion, only trailing Ethereum, which has $124 billion. Yet, while $ETH’s market cap is $297 billion, $TRX’s is just $26 billion. It could well be undervalued, and the recent events may be a catalyst that helps it realize some of its potential.
Best Wallet Token
What happens when you combine the simplicity of a top centralized exchange with the opportunity of a self-custody wallet? You get Best Wallet Token.
The project is a Web3 wallet that supports over 90 blockchains, including Bitcoin, Solana, Ethereum, XRP, Cardano, and soon TON.
It has a cross-chain bridge that’s connected to over 300 exchanges, enabling instant token swaps with the best prices across all blockchains. It’d be like using a centralized exchange, except you can trade any token on any chain, not just the select few it supports.
Additionally, the project features a presale aggregator that compiles the best emerging cryptocurrencies, allowing investors to purchase them directly from the app. It also has a crypto debit card, a staking aggregator, derivatives trading, and much more.
It’s undergoing a presale and has raised $13 million so far.
Best Wallet might just be the most powerful crypto wallet on the market, so there’s every chance that $BEST explodes once its presale ends.
This article is for informational purposes only and does not provide financial advice. Cryptocurrencies are highly volatile, and the market can be unpredictable. Always perform thorough research before making any cryptocurrency-related decisions.