Cathie Wood, CEO of ARK Invest, announced that she will not invest in Trump Coin, labeling it as a memecoin lacking utility. Her investment focus remains on Bitcoin, Ethereum, and Solana. In a recent interview, Wood mentioned that within hours of the Trump (TRUMP) token's launch, trading volumes for memecoins increased by 30%, amounting to $17.98 billion. When asked about purchasing Trump Coin, she reaffirmed her stance against memecoins. Wood expressed optimism about the future potential of decentralized finance (DeFi), emphasizing that it is primarily aligned with Ethereum and Solana. Additionally, she projected that Bitcoin could exceed $1 million by 2030. Recent data from Chainalysis revealed that a significant concentration of wealth exists within the Trump and Melania (MELANIA) tokens, with 94% of the supply held by just a few investors. Despite this, there has been a surge in new users entering the crypto space, as many new buyers are creating wallets on the same day they purchase these tokens.

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