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The cryptocurrency world is abuzz with the appearance of a meme coin announced by Donald Trump, named “TRUMP.”
Since its launch, the Token has quickly attracted attention, with major exchanges listing it and trading volumes skyrocketing.
TRUMP Meme Coin Shocks The Market
On January 17, Donald Trump announced the TRUMP Token, and its impact was almost immediate. This meme coin quickly gained prominence, with its market capitalization skyrocketing to over $13 billion within just 24 hours.
According to CoinGecko, the price of this Token increased over 130%, making it the second largest meme coin, just behind Dogecoin. It surpasses other prominent Tokens such as Shiba Inu and Pepe in terms of market value. Today, the token trades at $63, reflecting its explosive popularity.
The rapid rise of the TRUMP Token has attracted attention from prominent centralized and decentralized exchanges. Leading platforms such as Binance, Coinbase, Kraken and OKX listed it.
Additionally, decentralized exchanges on the Solana blockchain such as Raydium and Orca are also participating in the game. This has led to record trading volume on Solana, with Raydium generating over $25 million in fees and nearly $3 million in revenue in just one day, according to data from DefiLlama.
Not only operating in the market, blockchain analyzes show that the success of this Token has had a significant financial impact on Donald Trump. Reports suggest that entities associated with him hold a sizable portion of the token supply, potentially adding billions of dollars to his net worth.
“Donald Trump’s net worth increased by $22 billion overnight, as CIC Digital LLC and Fight Fight Fight LLC, which hold 80% of the $TRUMP supply, could belong to him. At the current price of ~$28, the stake is worth $22.4 billion. Forbes estimates the President-elect’s net worth in November 2024 at $5.6 billion. If this is accurate, the addition of meme coin shares would be a 5x increase,” said the Arkham Intelligence platform report.
Rumors About USA Coin Denied
As the TRUMP Token attracted widespread attention, rumors emerged about another cryptocurrency project called USA Coin.
Eric Trump, Donald Trump’s son, has denied any connection between his family and this rumored project. He emphasized that the Trump family is solely focused on the TRUMP Token, to avoid any confusion.
“$USA coin has nothing to do with us,” Eric Trump asserted on X.
Eric Trump praised the success of the TRUMP Token, calling it the hottest meme coin globally. He also alluded to future plans for the token and the family’s DeFi project, World Liberty Financial, to revolutionize both DeFi and centralized finance, positioning it as a transformative force in the financial world. main.
“Trump is currently the hottest digital meme on earth and I truly believe that WorldLibertyFi will revolutionize DeFi/Cefi and will be the future of finance,” Eric Trump added.
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