President Trump’s Meme Coin Trading Activity Soars: CryptoQuant
President Donald Trump has ventured into the cryptocurrency space with the launch of his official meme coin, TRUMP, which launched on January 17. The coin has quickly gained attention across the crypto community.
According to the project’s official page, TRUMP aims to promote engagement through its unique branding and associated artwork.
The initial launch offered 200 million TRUMP tokens, with a plan to expand the supply to 1 billion over three years. Within days of its launch, trading activity exploded, drawing attention to centralized exchanges.
The $TRUMP Pump: President Trump's Meme Coin Trading Activity Soars
— CryptoQuant.com (@cryptoquant_com) January 22, 2025
“Since the launch, total spot trading volume on centralized exchanges amount to $38 billion. Binance has dominated spot trading volume with $16 billion.” – By @jjcmoreno
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TRUMP Spot Trading Volume
Data from CryptoQuant reveals that since its debut, TRUMP has generated a total spot trading volume of $38 billion. Leading the charge was Binance, with an impressive $16 billion in trading volume, followed by OKX and Bybit, each contributing between $6 billion and $7 billion.
The coin experienced a rise in its price shortly after launch. On January 19, TRUMP hit an average price of $62, marking an 82% increase from its initial close on January 17. This surge was met by a trading volume peak of $17 billion on the same day, indicating huge market enthusiasm. However, the price has since cooled, currently trading at around $37.
Market analysts suggest that the coin’s success stems from its strong branding and its alignment with Trump’s robust supporter base. The combination of meme culture and political engagement has created a powerful narrative that resonates with both crypto enthusiasts and Trump’s followers.
Despite the initial excitement, questions remain about the coin’s long-term sustainability. With plans to increase the supply fivefold over the next three years, some traders express concerns about inflationary pressure impacting its value. Others see this as an opportunity to drive broader adoption, positioning TRUMP as more than just a meme coin.
As the crypto market continues to evolve, TRUMP’s debut highlights the growing intersection of politics and digital assets. Whether it sustains its momentum or fizzles out remains to be seen, but for now, TRUMP is undeniably making waves in the crypto world.
With total spot trading volumes rivaling established cryptocurrencies, this launch has set a precedent for how influential figures might engage with blockchain technology to mobilize support and create new financial opportunities.
The post President Trump’s Meme Coin Trading Activity Soars: CryptoQuant appeared first on Cryptonews.
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President Trump’s Meme Coin Trading Activity Soars: CryptoQuant
President Donald Trump has ventured into the cryptocurrency space with the launch of his official meme coin, TRUMP, which launched on January 17. The coin has quickly gained attention across the crypto community.
According to the project’s official page, TRUMP aims to promote engagement through its unique branding and associated artwork.
The initial launch offered 200 million TRUMP tokens, with a plan to expand the supply to 1 billion over three years. Within days of its launch, trading activity exploded, drawing attention to centralized exchanges.
The $TRUMP Pump: President Trump's Meme Coin Trading Activity Soars
— CryptoQuant.com (@cryptoquant_com) January 22, 2025
“Since the launch, total spot trading volume on centralized exchanges amount to $38 billion. Binance has dominated spot trading volume with $16 billion.” – By @jjcmoreno
Read more
TRUMP Spot Trading Volume
Data from CryptoQuant reveals that since its debut, TRUMP has generated a total spot trading volume of $38 billion. Leading the charge was Binance, with an impressive $16 billion in trading volume, followed by OKX and Bybit, each contributing between $6 billion and $7 billion.
The coin experienced a rise in its price shortly after launch. On January 19, TRUMP hit an average price of $62, marking an 82% increase from its initial close on January 17. This surge was met by a trading volume peak of $17 billion on the same day, indicating huge market enthusiasm. However, the price has since cooled, currently trading at around $37.
Market analysts suggest that the coin’s success stems from its strong branding and its alignment with Trump’s robust supporter base. The combination of meme culture and political engagement has created a powerful narrative that resonates with both crypto enthusiasts and Trump’s followers.
Despite the initial excitement, questions remain about the coin’s long-term sustainability. With plans to increase the supply fivefold over the next three years, some traders express concerns about inflationary pressure impacting its value. Others see this as an opportunity to drive broader adoption, positioning TRUMP as more than just a meme coin.
As the crypto market continues to evolve, TRUMP’s debut highlights the growing intersection of politics and digital assets. Whether it sustains its momentum or fizzles out remains to be seen, but for now, TRUMP is undeniably making waves in the crypto world.
With total spot trading volumes rivaling established cryptocurrencies, this launch has set a precedent for how influential figures might engage with blockchain technology to mobilize support and create new financial opportunities.
The post President Trump’s Meme Coin Trading Activity Soars: CryptoQuant appeared first on Cryptonews.
Read More