TRUMP Memecoin Listing Announcements by Coinbase and Binance Ignite Market Frenzy

The newly unveiled Official TRUMP memecoin is making waves in the crypto market as major exchanges, including Coinbase and Binance, prepare to list the token, igniting massive trading activity.

Major crypto exchanges, including Coinbase and Binance, are set to list the TRUMP memecoin, sparking a wave of interest among investors and crypto enthusiasts.

Coinbase's Assets X account, which provides updates on new asset listings, announced the exchange's intention to list the TRUMP token. However, Coinbase did not specify an exact timeline for its availability on the platform.

Meanwhile, Binance is preparing to launch trading for the TRUMP token on the morning of January 19. This swift move by one of the world's largest crypto exchanges is likely to further fuel demand for the token, which is already listed on several other major platforms like Bitget, KuCoin, and Kraken.

On-chain data reveals the rapid rise of the TRUMP token, which has quickly reached a market cap of over $7.6 billion, making it a top contender in the meme coin space. With a trading volume of approximately $15 billion, the token is already experiencing massive interest from investors, particularly those looking to capitalize on the upcoming US presidential inauguration.

The TRUMP token's swift rise contrasts with the fate of the first Trump-themed cryptocurrency, MAGA, which had trouble getting listed on major exchanges. Despite initial enthusiasm, the MAGA token has struggled, with a significant price drop of 84% since its peak in June 2024. However, it has slowly recovered in recent days, likely due to the heightened interest in Trump-related tokens ahead of the inauguration.

While the TRUMP token's sudden popularity is undeniable, it has faced scrutiny over its tokenomics. One key concern raised by critics is that 80% of the total token supply is controlled by wallets linked to CIC Digital LLC, an entity affiliated with the Trump Organization.

CIC Digital LLC was behind the launch of the Trump Non-Fungible Tokens (NFTs) in 2023, which have also seen a recent surge in interest. Data from OpenSea reveals that Trump NFTs generated over 2,800 sales in the past 24 hours, totaling more than 765 ETH (approximately $2.5 million), showcasing the continued market demand for Trump-themed digital assets.

Despite the concerns over centralization, the market's strong reaction to the listing on top-tier exchanges suggests that there is no shortage of traders willing to take a chance on the Official TRUMP memecoin.

The arrival of the Official TRUMP token has impacted the first Trump-themed token, MAGA. The Ethereum-based token experienced a dramatic drop over the weekend, falling from $3.50 to $1.44, causing its market cap to plummet from $158 million to $64 million. However, the token appears to have regained some footing, partially due to ongoing interest in Trump-related crypto assets.

The release of the TRUMP token and its immediate success could signal the beginning of a broader trend in the cryptocurrency space, where political and meme coins attract significant market attention. Whether or not MAGA can recover from its losses remains to be seen, but the launch of TRUMP has certainly changed the dynamics for Trump-themed tokens in the market.

As the market continues to respond to the influx of TRUMP memecoin purchases, the focus will likely remain on how both the new token and the MAGA token perform in the coming days, especially with the full-scale listing on Binance and Coinbase.