Donald Trump’s newly launched cryptocurrency, $TRUMP, is making waves in the crypto world with its staggering rise in value and listings on major platforms like Coinbase and Binance. Launched on the Solana blockchain, $TRUMP’s price skyrocketed from $0.18 to $38.20 within two days, representing a jaw-dropping surge of over 18,000%.
The token’s meteoric rise has been accompanied by increased trading volume, which surpassed $11 billion in the last 24 hours. With a market cap of $7.64 billion, $TRUMP is now among the most talked-about meme coins. Binance listed $TRUMP on its Futures platform, offering up to 25x leverage, while Coinbase added it to its spot trading platform.
https://twitter.com/CoinbaseAssets/status/1880825178940133734
The coin’s launch coincides with Trump’s upcoming inauguration as President, further fueling speculation around the token’s significance. Trump’s administration has hinted at a pro-crypto stance, with plans for a more relaxed regulatory environment and potential executive orders supporting Bitcoin and other cryptocurrencies.
$TRUMP’s ownership structure has also drawn attention. The token’s supply is capped at 1 billion, with 80% controlled by Trump-affiliated entities CIC Digital LLC and Fight Fight Fight LLC. While this centralization has raised concerns among skeptics, supporters see it as a strategic move to ensure the token’s value and legitimacy.
Although some critics question the coin’s long-term viability, $TRUMP has captured the market’s imagination, showcasing the potential of meme coins to drive mass engagement. As Trump prepares to assume office, the crypto community is eagerly watching for further developments, making $TRUMP a unique and intriguing player in the digital asset space.
Also read: Binance Lists Donald Trump’s Meme Coin, $TRUMP, Amid Record-Breaking Surge
