New Donald Trump-Themed Cryptocurrency Soars 856% Ahead of White House Crypto Summit

The token, also called TRUMP, runs on the Base blockchain. Its total value in the market is around $595,800, and people have traded about $385,000 worth of it

A new Donald Trump-themed cryptocurrency has surged by a whopping 856% in just one day on Monday. The token, also called TRUMP, runs on the Base blockchain.

Its market cap is valued at around $595,800, and it has witnessed a trading volume of approximately $385,000 in the past 24 hours. This astronomical rise has sparked significant interest, especially ahead of a major crypto event at the White House.

The token is listed on Uniswap v2, a decentralized exchange, and it currently has around $90,000 in liquidity.

However, a day ago, the token was seen consolidating at lower levels, moving in a range of $0.0026 to $0.0094. Yet, it started gaining momentum on Monday. From a low of $0.00305 earlier today, the token touched a high of $0.0202 before settling at $0.01138. Also, the token has reportedly seen over 500,000 holders in just two days.

What Could Be Driving TRUMP Token’s Price Surge?

This astronomical price surge has been attributed to the upcoming White House Crypto Summit, which is scheduled for tomorrow, March 7. At the event, President Donald Trump will be delivering a speech.

The event will also see the participation of top crypto company CEOs and government officials. The summit is being organized by venture capitalist and White House crypto czar and Bo Hines will be handling the administrative part.

The primary topics of discussion at the summit will include crypto regulation in the U.S., potential tax changes, and a discussion on a national Bitcoin (BTC) fund.

Also, there are rumors that Trump might announce zero capital gains tax on crypto sales. This would mean that no taxes would be levied on individuals when they sell their crypto holdings in the U.S., making the country a more favorable hub for crypto investors. Although there is no official confirmation yet, the idea has sparked a buzz among crypto enthusiasts.

Trump has been showing increasing interest in the crypto sector. During the previous election, he promised to reduce regulations and provide support for stablecoins if he is re-elected. Since assuming office, Trump has been actively fulfilling these promises.

As the summit approaches, the crypto community is eagerly awaiting President Trump’s announcements. If he does decide to eliminate taxes on crypto sales, it could have a significant impact on the industry.