Donald Trump's newly launched cryptocurrency, $Trump, has experienced a remarkable surge in value, reaching a market capitalization of nearly $11 billion. This surge comes amidst a broader rally in the cryptocurrency market since Trump's election victory.
Trump 's newly launched cryptocurrency experienced a significant surge in value preceding his inauguration as the 47th President of the United States, reaching a market capitalization of nearly $11 billion. This surge follows a broader upward trend in the cryptocurrency market since Trump 's election victory in November. Proponents of digital assets anticipate that Trump 's presidency will usher in a new era of wider adoption.
The coin, officially named $Trump, is described on its website as a symbol of support rather than an investment opportunity. It emphasizes that it has no political affiliation and is unconnected to any political campaign, office, or government agency. Trump himself announced the coin's launch on his social media platform, Truth Social, stating, 'My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING!'The $Trump token, initially priced at $10, climbed as high as approximately $70 on Sunday. This rally was partially tempered by the launch of the incoming First Lady Melania Trump's coin, $Melania. As of 06:29 ET (11:29 GMT), $Trump was trading at $54.25, yielding a market value of around $10.8 billion, according to CoinMarketCap. Concurrently, Bitcoin established a new all-time high on Monday, continuing its recent upward trajectory since Trump's election. Bitcoin, which commenced the year trading at $43,000, was exchanging hands at $108,216.50 at 06:19 ET.
CRYPTOCURRENCY TRUMP INVESTING MARKET VALUE DIGITAL ASSETS
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