$TRUMP Cryptocurrency Hits $5 Billion Market Cap
$TRUMP, the new meme coin launched by Donald Trump, celebrates his presidential victory and is already making waves with a $5 billion market cap. Here's what you need to know about the buzzworthy launch.
What is $TRUMP?
$TRUMP is a meme cryptocurrency launched by President-elect Donald Trump to celebrate his recent presidential victory. According to the coin's official website, it is "not intended as an investment or security of any kind" and is "not political or affiliated with any campaign." Despite this, the coin has gained immense popularity, with its value skyrocketing over 300% since its launch.
Key Highlights
- Market Success: $TRUMP has reached a market cap of $5.81 billion, with a price of $29 per token.
- Limited Supply: Developed on the Solana blockchain, the coin’s initial supply is capped at 200 million tokens, with plans to expand to 1 billion over three years.
- Ownership Structure: 80% of the tokens are held by Trump-affiliated companies, CIC Digital LLC and Fight Fight Fight LLC.
- Transaction Volume: Since its launch, $TRUMP has generated over $6.64 billion in transaction volume.
Trump’s Crypto Vision
President-elect Trump has expressed a desire to make the United States a global leader in cryptocurrency innovation. His proposed policies include creating a federal Bitcoin reserve, reducing regulatory burdens on crypto companies, and forming a new advisory council focused on blockchain development.
Merchandising and Crypto Ventures
$TRUMP is the latest addition to Trump’s extensive merchandising portfolio, which includes NFT collections, luxury watches, and more. His previous NFT projects generated over $7.2 million in licensing fees, showcasing his ability to tap into emerging markets successfully.
