.png){kind=logo}
The crypto world is in an uproar over President Donald Trump's surprise pardon of Ross Ulbricht, the Silk Road founder.
Ulbricht, serving two life sentences plus 40 years for his role in creating and operating the notorious online marketplace, has been released back into society.
This news sent shockwaves across the cryptocurrency space, particularly in the value of Rosscoin ($ROSS).
Over the past 24 hours, $ROSS has gained over 41%, trading at $0.004196 with a 25% rise in trading volume, signaling a renewed bullish sentiment.
Ross Ulbricht's pardon, which was announced just a day after Trump's inauguration, comes as a surprise but has deep implications for both the crypto community and the broader conversation about justice and government overreach.
The pardon was partly due to the compelling letter that Senator Rand Paul wrote to the White House on the disproportionate sentencing in Ulbricht's case. Senator Paul said that, although Ulbricht got an extreme sentence, many of the major drug sellers on the Silk Road platform got much lighter sentences, some as short as five or six years.
Trump, in the statement announcing the pardon, expressed his concerns over what he termed "weaponization of government" toward people like Ulbricht.
Just after the pardon was released, Rosscoin skyrocketed and is now in significant gain within 24 hours. As the coin has been named after Ulbricht for a long time, it is also getting attention from people.
Crypto Twitter is now optimistic on $ROSS, and the pardon is going to generate immense media hype which will bring attention to the coin. Moreover, the whale's exit shows that the bottom could be formed; the coin already is recovering from it.
X user @thelamboguy believes $ROSS will continue to climb higher as Ulbricht comes back into the spotlight. People have been making that argument lately, and with it, the theory that he may even announce Rosscoin as his official meme coin as a token of appreciation for the community that has stayed by his side through all the long years he's been in prison.
In this light, the community is drawing parallels between Ulbricht and President Trump, that Ulbricht is coming out as the "Trump of crypto space."
Another crypto enthusiast, @pat_the_dentist, claims that Ulbricht's release will happen in the next 24 to 48 hours. Media attention for his story will be enormous. He pointed out that the bottom for $ROSS has probably been reached because the "2% whale" is now officially out of the market, which means the coast is clear for further increases.
Rosscoin is one of the notable tokens in the Solana blockchain, home to many promising projects and meme coins.
Solana is one of the fast-speed networks that charge low fees, which is the reason why a growing ecosystem has been seen in this space. One of the projects supported by this space is Solaxy, a Layer-2 solution that has drawn significant attention from the crypto community.
Solaxy's presale has already raised over $13.6 million, demonstrating strong investor interest.
Like successful Ethereum Layer-2s, Solaxy prioritizes scalability, reduced fees, and enhanced blockchain efficiency. While Solana excels at speed, scalability challenges arise during periods of high demand. Solaxy addresses this by bundling off-chain transactions for optimized processing, a unique approach adapted from Ethereum.
Solaxy bridges the powerful Solana with Ethereum. Speed and cost-effectiveness from Solana complement robust security, a large developer community, and deep liquidity from Ethereum. This synergistic relationship stimulates innovation, accelerates user adoption, and makes applications on Solana even more attractive.
The $SOLX token, available on presale, offers strategic allocations for growth. With 30% dedicated to ecosystem development, 20% to reserves, and 15% to marketing, Solaxy is poised for long-term success.
Investors can also stake $SOLX tokens for rewards, making the presale an attractive opportunity for early supporters.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
