TRUMP Cryptocurrency Makes Waves and Bitcoin’s Record High
The new cryptocurrency by Donald Trump, $TRUMP, took the digital asset market by storm in a historic convergence of politics and finance. Its market value ballooned to more than $10 billion on Monday as Trump started his second term as President of the United States. Bitcoin, the flagship cryptocurrency, also touched its record high and traded at $109,071.86 just hours before the return of the White House man to his workplace.
A Meteoric Rise
Launched on Friday, $TRUMP quickly gained popularity among traders and supporters. The price went from under $10 on Saturday morning to a peak of $74.59 by Sunday evening. Retracing some, the token settled at $45.21 by midday Monday, securing a market capitalization of just over $9 billion, according to CoinMarketCap. Trading volume went as high as nearly $40 billion within 24 hours.
Trump’s “meme coin” has branding that focuses on imagery from his July 2024 assassination attempt in which he was targeted. The digital token is sold as an “expression of support for the ideals and beliefs embodied by $TRUMP”, rather than an investment.
Melania Trump Joins the Crypto Craze
Adding to the action, the First Lady Melania Trump launched her own cryptocurrency, $MELANIA, Sunday. It has quickly rallied above a $1 billion market capitalization. Both tokens are built on the Solana blockchain, which was seeing a rise in activity; its native token rose to an all-time high over the weekend at $294.33.
Paying with $TRUMP at McDonald’s
In a surprising move highlighting the token’s practical adoption, crypto payment app Oobit announced that $TRUMP is now usable for tap payments. This development enables users to make everyday purchases, including at popular chains like McDonald’s. Social media buzzed with posts celebrating the ease of saying, “I’ll pay with TRUMP,” at checkout counters, signaling a shift in how meme coins could intersect with real-world transactions.
Crypto Market Reaction
The entrance of $TRUMP and $MELANIA has electrified the cryptocurrency market. Bitcoin’s new record high reflects a broader rally fueled by expectations of a “crypto-friendly” presidency. Trump has previously pledged to position America as “the crypto capital of the world” and reduce regulatory barriers for the industry.
Regulatory and Ethical Concerns
Critics sounded alarms about the concentration of $TRUMP tokens. Given that 80% of the supply is held by CIC Digital and related parties, market manipulation fears lurk in the shadows. Others questioned whether political figures should have such an influence over speculative markets.
“The launch of $TRUMP blurs the lines between governance, profit, and influence,” said an independent crypto-analyst D’Anethan. “Regulators are unlikely to ignore this development.”
Contrary to the disclaimers on the $TRUMP and $MELANIA websites, which say that the tokens are not investments or securities, the price action has nonetheless lured in both opportunistic traders and ardent supporters. A total of 200 million $TRUMP tokens have been issued so far, while another 800 million more will be rolled out over the next three years.
The launch of these tokens also helped the Solana blockchain. In the last 48 hours, Solana processed more than $50 billion in trading volume, sending its token up 20%. According to analysts, this kind of activity will put Solana in the big leagues of the blockchain world.
Looking Ahead
The possible introduction of $TRUMP and $MELANIA may be the dawn of a new paradigm for the cryptocurrency sector. According to various experts, this may bring about a shift in regulatory approaches as governments start considering digital assets as a vehicle to directly interact with their citizens.
The next few days will probably be about how CIC Digital and connected insiders handle their large token holdings. Analysts believe that these assets may be used as collateral for financial projects, as engagement rewards for supporters, or to fund future political initiatives.
In other words, entering the White House with his personal cryptocurrency in hand marks a new chapter that analysts now describe as “a chaotic new era” for digital assets. Attention-grabbing in its display, it nonetheless hints at a strong influence that cryptocurrencies are gradually starting to wield on the political and economic arenas.
With Bitcoin‘s record highs and the emergence of $TRUMP dominating the headlines, this cryptocurrency industry has reached a turning point. Whether this new chapter will bring further adoption or further regulatory crackdowns, only time will tell, but at least one thing is certain: it is the meeting of politics and digital assets that is revolutionizing the financial landscape.
