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Cryptocurrency News Articles
Donald Trump's $TRUMP Cryptocurrency Soars in Value, Now Worth Over $38 Billion
Jan 20, 2025 at 11:46 am
The price of Donald Trump's new cryptocurrency called $TRUMP soared on Sunday, with the amount held by the US president-elect and his associates now valued at more than $38 billion.
US President-elect Donald Trump‘s new cryptocurrency, $TRUMP, soared in value on Sunday, with the stash of tokens held by the Republican and his associates now worth more than $38 billion.
Trump unveiled the meme coin, designed to capitalize on the popularity of a certain personality, movement or viral internet trend, on Saturday in a post on his Truth Social platform and X.
Meme coins have no economic or transactional value, and are largely seen as a vehicle for speculative trading.
READ: Trump launches $TRUMP coin ahead of inauguration
Neither Trump nor the company handling the token launch, Fight Fight Fight LLC, provided details on how much he earned from the initial batch of meme coins released.
The coin’s official website stated that 200 million meme coins were issued, with Fight Fight Fight adding that another 800 million would be added over the next three years.
At 7:30 pm (0030 GMT Monday) on Sunday, the meme coin was valued at around $48, bringing the market capitalization for $TRUMP to approximately $9.6 billion.
At this price, the 800 million meme coins still in the hands of Trump and his associates are valued at approximately $38.4 billion.
Cryptocurrencies, with the exception of “stablecoins” which are pegged to stable assets like the US dollar, typically experience extreme volatility and it is not uncommon for their price to crash, especially in the case of meme coins.
Trump’s meme coin earlier surged to $75 before dropping.
On Sunday, incoming First Lady Melania Trump also launched her own cryptocurrency, called $MELANIA.
Initially an opponent of cryptocurrency, Trump made a sharp about-face during his 2024 presidential campaign, championing the concept and pledging to advance the sector, particularly by easing regulations.
Prior to this latest announcement, associates of Trump launched a crypto trading platform in October called World Liberty Financial.
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- Bitcoin (BTC) Price Review – Bulls Take Control, BTC Breaks Above the Upper Bollinger Band
- Jan 20, 2025 at 08:05 pm
- Bitcoin, $BTC, posted a notable increase in today's session, as seen from its price movements. Looking at an in-depth analysis, we see that Bitcoin has broken above the upper Bollinger Band, suggesting high bullish momentum and possible overextension.
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- Ethereum Faces Potential Drop Below $3,000 as Demand Wanes and Competition Rises
- Jan 20, 2025 at 08:05 pm
- Ethereum, once a dominant force in the cryptocurrency market, is currently facing a shift in its demand dynamics, which could lead to a potential drop below the $3,000 threshold in the coming days or weeks.
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- Melania Trump's crypto coin soared to as high as 76% after Binance announced it will be providing trading support for USDT-base perpetual contracts for MELANIA
- Jan 20, 2025 at 07:55 pm
- MELANIA (MELANIA) is being launched on Binance through USDT (USDT)-based perpetual contracts with leverage of up to 25x.
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- Rollblock Expands Operations Amid Ethereum and Solana Price Rebound: What's the Winning Formula?
- Jan 20, 2025 at 07:50 pm
- The cryptocurrency market has been on the road to recovery, with Ethereum and the Solana price rebounding from recent slumps. Amid this broader market trend, the new Rollblock continues to expand their operations and offerings, catering to the renewed interest and confidence from investors and traders.
