Crypto markets retreated in the first 100 days of Trump's administration

Bitcoin (BTC) and most altcoins have dropped even as Donald Trump's administration implemented positive policies, including supportive moves on crypto reserves.

The first 100 days of Donald Trump’s administration have seen crypto prices decrease despite positive government policies and a booming stock market.

The administration’s actions have included shutting down the Securities and Exchange Commission’s lawsuits against prominent companies like Uniswap (UNI), Coinbase, and Ripple Labs, as well as announcing support for crypto reserves to mitigate inflation.

However, macro factors have played a greater role, with Trump reigniting a trade war against Canada, Mexico, and China, leading to a drop in the crypto market cap by 14.7% since his administration began.

Here are the top 5 crypto charts that defined the first 100 days of Trump’s presidency:

Crypto market cap crashes by 14.7%The first chart below highlights how the broader crypto market has performed poorly in comparison to the stock market since Trump took office.

The total market capitalization of all cryptocurrencies has decreased by 14.7%, while the S&P 500 and Nasdaq 100 have seen declines of 6.9% and 7.9%, respectively.

This performance is noteworthy considering that Trump campaigned on being the “most pro-crypto president” in U.S. history, and his administration’s policies have largely supported the crypto industry.

On a positive note, the crypto market cap has recovered slightly, increasing from $2.39 trillion earlier this month to $2.9 trillion.

The chart above, created by Visual Capitalist, showcases the concerning trend in the crypto market.

The administration's actions have included shutting down the Securities and Exchange Commission's lawsuits against prominent companies like Uniswap (UNI), Coinbase, and Ripple Labs, as well as announcing support for crypto reserves to mitigate inflation.

Despite these positive moves, the crypto market has continued to struggle, attributing the downturn to macro factors.

The administration's decision to reignite a trade war against Canada, Mexico, and China following his inauguration in January has had a significant impact.

Moreover, the administration has faced criticism for its handling of the coronavirus pandemic, which has also contributed to the economic downturn.

However, it's important to note that the stock market has also experienced losses during this period.

The S&P 500 and Nasdaq 100 have seen declines of 6.9% and 7.9%, respectively, while the Dow Jones Industrial Average has risen by 0.8%.

In contrast, the crypto market has crashed even more, with a 14.7% drop in the last 100 days.

The administration's actions have been mixed, with some showing support for crypto while others have been less favorable.

For instance, the administration announced support for stablecoins and Bitcoin (BTC) in March, following the news that the U.S. dollar reserves might hit record lows.

However, the administration's decision to shut down the SEC lawsuits, which targeted companies like Uniswap, Coinbase, and Ripple Labs, could be seen as an attempt to salvage the floundering economy by focusing on bigger problems.

The administration's actions will continue to be closely watched as they could have a significant impact on the future of the crypto industry in the U.S.

The administration's term began with a surge in meme coins, leading to a strong performance by decentralized exchanges in January.

As Donald and Melania Trump launched their own tokens ahead of the inauguration, we saw the initial rally in decentralized exchanges, later pivoting to the meme coin hype, especially on chains like BNB Chain and Huobi.

Data from TokenInsight shows that DEX volume reached a peak of $564 billion in January before moderizing to $382 billion in February and $248 billion in both March and April as meme coin enthusiasm faded.Stablecoin market cap jumps

Stablecoins have continued to grow under Trump’s administration.

According to TokenInsight, the total stablecoin market cap has risen to over $240 billion, led by Tether, USD Coin, Dai, Sky Dollar, and Athena. Since Trump took office, stablecoins have added $40 billion in total market capitalization.RWA growth accelerates

Meanwhile, demand for Real World Asset tokenization has grown to a record high. The market value of all RWA tokens has jumped to over $11.17 billion, up from $7.92 billion when Trump took office. The biggest players in the RWA industry are BlackRock BUIDL, Athena USDtb, Ondo Finance, Tether Gold, and Paxos Gold.

One of the top stories in RWA was the collapse of Mantra, one of the biggest chains in the industry.

Bitcoin ETFs had net inflows of $3.73 billion

Finally, the last chart highlights the price action in Bitcoin (BTC) and Ethereum (ETH) ETFs.

Spot Bitcoin ETFs have recorded $3.