The ROSS token price has gone up 25% today on rumours that Ross Ulbricht, founder of the infamous Silk Road marketplace, will receive a presidential pardon and be released from prison soon.
Ulbricht is now serving a life sentence for his role in Silk Road. To many, he became a symbol for those who feel his imprisonment was unfair. As more people question his case, the value of the ROSS token has also risen since its launch in mid-2024.
The ROSS token’s value has grown in the last six months by 19,064.67%. In the beginning, its value didn’t manage to surge much; then it started increasing really fast when Trump’s inauguration date drew closer.
It reached its highest price ever in November and December at $0.02613. Currently, it is trading at $0.0265, which is 8% less than its ATH. Its market value is now at $26 million, with the trading volume increasing to $897K.
At the same time, people are looking forward to Ulbricht’s release because Trump said he would pardon him. During his last campaign for president, Trump said he would help Ulbricht, giving hope to his supporters.
With the inauguration of Trump getting closer, this promise has made people more excited. “Ross will be coming home in January,” Trump said during his campaign, which made the chance of the pardon even more exciting. This discussion led to more activity on betting sites with Polymarket data showing a 71% chance that the pardon will happen.
Even as people are getting more hopeful, many doubt whether Trump will follow through on this promise. Some believe he made it to get votes during the election, while others refer to the fact that many of Trump’s past campaign promises were not kept.
In other words, the future of the ROSS token and Ulbricht’s release is still uncertain, but many are waiting for Trump’s next move.
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