Donald Trump's X Post Boosted the FDV of the "official" Meme Coin TRUMP to $22 Billion
The asset rapidly increased in price, surpassing rankings of assets like Pepe and Bonk.
”My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to http://gettrumpmemes.com — Have Fun!” wrote President-elect Trump.
At the time of writing, the new meme coin trades around $22, with a trading volume of $1,9 billion.
The asset's FDV stands at $22 billion, while its market capitalization is only $4,1 billion, meaning that 80% of the token supply is set to be unlocked in the future.
Profitable Ventures
Many market participants have ”made multiples” on TRUMP. One trader earned $29.8 million in less than two hours after spending $1.09 million in USDC to purchase 5,971,750 TRUMP tokens.
Another trader turned $1.1 million into $70 million in just four hours.
This trader has already sold 1.35 million TRUMP for $3.65 million; for the remaining tokens, unrealized profits exceed $70 million.
Major cryptocurrency exchanges have launched spot trading for the new token. Bybit has implemented support for perpetual contracts for TRUMPUSDT, and Binance has taken similar steps.
According to Bloomberg, Trump intends to make cryptocurrency a national priority.
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Donald Trump's X Post Boosted the FDV of the "official" Meme Coin TRUMP to $22 Billion
The asset rapidly increased in price, surpassing rankings of assets like Pepe and Bonk.
”My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to http://gettrumpmemes.com — Have Fun!” wrote President-elect Trump.
At the time of writing, the new meme coin trades around $22, with a trading volume of $1,9 billion.
The asset's FDV stands at $22 billion, while its market capitalization is only $4,1 billion, meaning that 80% of the token supply is set to be unlocked in the future.
Profitable Ventures
Many market participants have ”made multiples” on TRUMP. One trader earned $29.8 million in less than two hours after spending $1.09 million in USDC to purchase 5,971,750 TRUMP tokens.
Another trader turned $1.1 million into $70 million in just four hours.
This trader has already sold 1.35 million TRUMP for $3.65 million; for the remaining tokens, unrealized profits exceed $70 million.
Major cryptocurrency exchanges have launched spot trading for the new token. Bybit has implemented support for perpetual contracts for TRUMPUSDT, and Binance has taken similar steps.
According to Bloomberg, Trump intends to make cryptocurrency a national priority.
Read More