Trump Launches His Own Cryptocurrency, $TRUMP, Which Soared to Become the Sixth Most Traded Digital Currency in the World Within 24 Hours

The value of bitcoin on the world's largest exchange, Binance, rose by 2.91 percent to $109,241, mostly due to the cryptocurrency industry's high expectations

The value of bitcoin on the world’s largest exchange, Binance, rose by 2.91 percent to $109,241, mostly due to the cryptocurrency industry’s high expectations since Donald Trump took office as president of the United States.

The Republican billionaire plans to issue an executive order defining crypto as a national priority for America and will reportedly allow industry insiders to express their opinions before the presidential administration.

The world’s largest cryptocurrency has seen incredible success since Trump won the election, and in December it surpassed the $100,000 mark for the first time.

The total trading volume of Bitcoin in the last 24 hours was 113.14 billion USD. The value of Ethereum fell by 1.26 percent to 3,290.85 USD, and the value of Binance Coin (BNB) fell by 0.95 percent to 690.50 USD. Today, the most traded are Bitcoin, Ethereum, and Ripple, which rose by 6.25 percent.

Telegram’s cryptocurrency Toncoin (TON) is selling for $5.08 today, down approximately 1.74 % from yesterday.

Trump launches his own token

Over the weekend, the US president launched his own cryptocurrency, aptly named $TRUMP, which soared on Monday, reaching a total market value of approximately $9.2 billion after a 73% increase to $46.06 during trading on the Asian crypto market, according to CoinMarketCap.

Thus, the coin became the sixth most traded digital currency in the world within 24 hours, an unprecedented achievement. As soon as it was announced on the social network Truth Social, there was a huge frenzy and hype about this coin, and investors literally competed to see who would invest more.

The token launch coincides with Trump's campaign promise to turn the United States into the "cryptocurrency capital of the planet and the Bitcoin superpower of the world."

The president made sure that the design was unusual, and his crypto token contains images of an assassination attempt in July 2024. If this coin continues to grow at least at a similar intensity as in the previous days, it will not take long for it to become a direct competitor to Bitcoin.