With inauguration day approaching, the market is preparing for President-elect Donald Trump to commute the sentence of the convicted founder of Silk Road, Ross Ulbricht . To bet on the event, traders are buying up the ROSS memecoin, which hit a new all-time high today. The unofficial Ross Ulbricht coin, ROSS, launched in May, but began to pick up steam in November after the election results as Trump vowed to free Ross, who is serving a life sentence, on day one of his presidency. ROSS hit an all-time high $32 million market capitalization today, almost 60x from its $550,000 valuation on Nov. 5. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io