Donald Trump has recently launched a new cryptocurrency called $TRUMP, which has quickly gained significant attention in the crypto market. Here are the key details as of January 18, 2025:
Overview of $TRUMP Coin
– Launch Date: The $TRUMP coin was officially announced on January 17, 2025, just days before Trump’s inauguration as the 47th president of the United States.
– Current Value: The coin’s price surged dramatically, initially trading at just a few cents and reaching around $25 shortly after launch, with peaks over $33 during trading hours. This represents an increase of nearly 293% since its debut.
– Market Capitalization: As of Saturday afternoon, the market cap for $TRUMP exceeded $6 billion, making it one of the fastest-growing cryptocurrencies in history.
Technical Details
– Blockchain: The $TRUMP coin operates on the Solana network and has a total supply cap of 1 billion tokens. Initially, about 200 million tokens were issued, with plans to release the remaining tokens over the next three years.
– Ownership: Approximately 80% of the tokens are held by CIC Digital LLC and Fight Fight Fight LLC, both affiliated with Trump.
Market Reaction and Implications
– The launch coincides with a broader resurgence in cryptocurrency values, attributed in part to Trump’s recent support for digital currencies. During his campaign, he accepted Bitcoin donations and promised to create a national Bitcoin stockpile.
– Trump’s embrace of cryptocurrency marks a shift from his previous skepticism during his first term. Analysts suggest that this move could significantly impact the crypto market, particularly as he aims to foster a more crypto-friendly regulatory environment.
Community Response
The announcement was made via Trump’s social media platforms, generating excitement among his supporters and investors. However, there are concerns regarding the speculative nature of meme coins like $TRUMP, which often lack intrinsic value and can be subject to extreme volatility.
Overall, the $TRUMP coin’s rapid rise reflects both Trump’s popularity and the speculative nature of cryptocurrency investments today.
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