The asset quickly elevated in value, surpassing rankings of belongings like Pepe and Bonk.
“My NEW Official Trump Meme is HERE! It’s time to rejoice all the pieces we stand for: WINNING! Be part of my very particular Trump Neighborhood. GET YOUR $TRUMP NOW. Go to http://gettrumpmemes.com — Have Enjoyable!” wrote President-elect Trump.
On the time of writing, the brand new meme coin trades round $22, with a buying and selling quantity of $1,9 billion.
The asset’s FDV stands at $22 billion, whereas its market capitalization is just $4,1 billion, that means that 80% of the token provide is about to be unlocked sooner or later.
Worthwhile Ventures
Many market individuals have “made multiples” on TRUMP. One dealer earned $29.8 million in lower than two hours after spending $1.09 million in USDC to buy 5,971,750 TRUMP tokens.
One other dealer turned $1.1 million into $70 million in simply 4 hours.
This dealer has already offered 1.35 million TRUMP for $3.65 million; for the remaining tokens, unrealized income exceed $70 million.
Main cryptocurrency exchanges have launched spot buying and selling for the brand new token. Bybit has applied assist for perpetual contracts for TRUMPUSDT, and Binance has taken comparable steps.
In keeping with Bloomberg, Trump intends to make cryptocurrency a nationwide precedence.