Trump Token Surges recently launched cryptocurrency, $TRUMP, has taken the market by storm. By Monday, it reached a market value of $11.7 billion. The meme coin, unveiled on Friday, surged to $58.56 by 0820 GMT. It now ranks as the 18th largest cryptocurrency on CoinMarketCap. Additionally, the token recorded a massive 24-hour trading volume of $52.5 billion, reflecting strong investor interest.
Trump Token Surge
The token features branding tied to Trump’s attempted assassination in July, further linking it to his personal and business ventures. Trump already has a foothold in the crypto market through World Liberty Financial. According to the token’s website, 80% of $TRUMP tokens are owned by CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight LLC.
Melania Trump Joins the Crypto Craze
Meanwhile, Melania Trump launched her own cryptocurrency on Sunday. Her token is trading at $12.03 with a market cap of $1.9 billion, according to CoinMarketCap. This move reflects the growing involvement of the Trump family in digital assets.
Bitcoin Hits a Historic Milestone
Amid the excitement surrounding $TRUMP, Bitcoin also reached a record high. Early European trading saw the world’s largest cryptocurrency hit $109,071.86. It has already surged by over 10% this month, fueled by optimism surrounding Trump’s upcoming presidency and his promise of crypto-friendly policies.
Ethical and Regulatory Questions Arise
The launch of $TRUMP has raised concerns within the cryptocurrency community. Justin D’Anethan, a Hong Kong-based crypto analyst, highlighted its ethical and regulatory challenges.
“While this may seem like just another Trump spectacle, it opens up serious questions about governance and influence,” he said. He added that public figures with political power should not wield such influence in speculative markets. Regulators are likely to examine this situation closely.
Trump’s Vision for Cryptocurrency
Trump has pledged to become a “crypto president.” He promises to reduce regulatory hurdles and promote broader adoption of digital assets. This potential shift has already excited the industry, helping Bitcoin rally significantly after Trump’s election victory in November.
Looking Ahead
As Trump prepares to assume the presidency on Monday, the market eagerly awaits his impact on cryptocurrency policies. With the promise of looser regulations, both established cryptocurrencies like Bitcoin and newer players like $TRUMP could see significant growth.
The crypto world will be watching closely as Trump blurs the lines between politics, finance, and decentralized innovation.
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