The creator of the Dark web marketplace Silk Road might be getting out of prison after over a decade, pumping investor confidence. Interestingly, its impact is clearly visible in the Ulbricht-inspired cryptocurrency, resulting in the ROSS token price jumping 22% today. Let’s discuss the speculations and their impact on the Ross Ulbricht token.
ROSS Token Price Surged 22% Amid Ross Ulbricht’s Release Speculation
ROSS token was launched in the middle of 2024, and months had passed before any significant progress on the charts was made. However, with Trump’s inauguration day getting closer, the Ross Ulbricht token price began pumping, gaining a 19064.67% surge in the last six months. Out of this, the biggest gains were during November-December, creating a new ATH at $0.02767.
At the same time, Bitcoin’s price hit ATH, but it is currently consolidating at $96.5k, disappointing investors. Interestingly, the Ross Ulbricht release speculation is fueling the ROSS token price performance, showing a 236% surge over the month and 22% over the last 24 hours.
With that, it trades at $0.02541 and is just 8% away from the ATH. It also has a market capitalization and trading volume of $25.34M and $978.05K after a 90% surge, indicating investor interest. Donald Trump’s election win is supposed to free the Silk Road creator per his presidential campaign promises, but is that happening for real?
Will Ross Ulbricht Receive Donald Trump’s Presidential Pardon?
There is significant buzz around Ross Ulbricht’s release from 11 years of imprisonment this month. He created the Silk Road to allow investors to trade Bitcoin anonymously. However, the same platform became a conduit for illegal trades and even money laundering, resulting in a lifetime imprisonment. Despite that, hundreds of prominent people and thousands of supporters supported the Silk Road creator.
The buzz around his possible release through Donald Trump is helping the ROSS token price rally. People have begun anticipating Trump’s presidential pardon on social media, which he promised during his campaigns. Even the impact is visible in the Polymarket presidential pardon data, as the investor’s confidence has increased to 71%. Interestingly, the same hit 80% back in November.
However, critics believe that Trump promised the release to win over thousands of people. At the same time, they question whether the soon-to-be 47th US president will fulfill his promises, as he failed to complete many of them during his last presidency. Since it was last mentioned during the campaigns, Donald Trump has not spoken on the subject, but people await the inauguration day, as Trump said, “Ross will be coming home in January.”
What’s Coming Next For ROSS Token Price?
With the building speculation around Ross Ulbricht’s release, the ROSS token price has continuously risen for weeks. The increased hype is clearly presented in the Ross Ulbricht token’s trading volume and Polymarket bets. Now, the current price is just 8% away from hitting the ATH and could continue to surge if the trend remains the same. However, a few critics fear Donald Trump’s change of heart, as he overlooked many promises during his previous presidency.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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