The possibility of Ross Ulbricht, the founder of the dark web marketplace Silk Road, being released from prison after years has mobilized investors. The possibility of a Trump pardon led to a 22% increase in the price of the Ulbricht-inspired ROSS token today.
Rising Price of ROSS Token
Launched in mid-2024, the ROSS token did not make significant progress on the charts in the first months. However, as Trump’s inauguration approached, the Ross Ulbricht token price began to rise, with an increase of 19064.67% in the last six months. Large gains were made in November-December, reaching a new high of $0.02767.
Bitcoin in the same period $96,525.2The price of has also reached an all-time high, but at the time of writing it is hovering around $98,500. On the other hand, Ross Ulbricht release speculation fueled the ROSS token price performance, causing a 22% increase in the last 24 hours.
Impact of Presidential Pardon Speculations
The expectation that Ross Ulbricht will be released from his 11-year prison sentence as of this month is contributing to the continued rise of the ROSS token price. Hundreds of public figures and thousands of supporters support the release of the Silk Road founder.
“Ross will return home in January.” –Donald Trump
Per Donald Trump’s presidential campaign promises, Ross Ulbricht is expected to be released. Increasing expectations on this issue on social media increased investor confidence to 71%. It is stated that this rate reached 80% in November.
But critics think Trump is using this promise to win over thousands of people. At the same time, Trump’s failure to fulfill many of his promises during his previous presidency raises questions about whether these promises will come true.
Trump has not commented on the issue since he last brought it up during the campaigns. People are waiting for the day of accepting the presidency to observe whether Trump will fulfill his promise that “Ross will come home in January.”
Increasing speculation surrounding the release of Ross Ulbricht pushed the ROSS token price to rise for weeks. The growing hype is clearly visible from the ROSS token’s trading volume
The possibility of Ross Ulbricht’s release continues to have a positive impact on the ROSS token. Investors are closely monitoring fluctuations in the token’s price as they wait to see whether Trump will follow through on his promises. Future developments will be important determinants for both the crypto market and interested parties.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
