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New Delhi:

Before Donald Trump took oath as US President, the crypto token launched by him has created a stir in the market. Just before returning to the White House, Trump’s new meme coin, $TRUMP, surged 73% in Asian markets to $46.06, taking its market cap to $9.2 billion. According to CoinMarketCap, its 24-hour trading volume reached $42.2 billion.

Trump had introduced this digital token on Friday, in which a picture related to his assassination attempt in July was used. Along with this, he has made further investments in the field of cryptocurrency. This step of Trump was a surprising step for the cryptocurrency industry.

Huge jump in price and market value of $TRUMP meme coin

The $TRUMP meme coin was introduced on January 18 and saw a huge increase in its price and market value as soon as it was launched. This coin has been launched on the Solana network, and its total supply is limited to 1 billion tokens. 20 crore tokens have been made available in the first phase, and the remaining tokens will be issued over the next three years.

Trump introduced this meme coin on his social media platforms, Truth Social and He urged his supporters to buy this token.

A big step by Trump in the crypto market

Reactions from crypto experts regarding the launch of this new token have been mixed. Different reactions were seen regarding this token on social media also. Some people considered it a big step by Trump in the crypto market, while many others questioned its validity.

Along with this, criticisms were also made regarding the marketing of the coin. According to reports, 80% of the tokens are held by companies like CIC Digital LLC and Fight Fight Fight LLC, which are linked to the Trump Organization.

Economist Peter Schiff described the rise in the price of $TRUMP as ‘digital gold’ and saw it as a new financial trend.

Although the launch of the $TRUMP token has created a stir in the crypto market, many crypto experts are saying to be cautious about it.

Trump had called himself “Crypto President” during the election campaign and now after assuming office, the possibility of flexible rules in crypto policy is being expressed. Trump had promised to support the development of cryptocurrencies during the election campaign. According to reports, he may sign an executive order to create an advisory council for cryptocurrencies in his next term.

There was a rise in Bitcoin after Trump’s election victory

Meanwhile, Bitcoin is also seeing a rise, which is influenced by Trump’s election victory and possible changes in his crypto policy. Bitcoin, the world’s largest cryptocurrency, was trading 2.6% lower at $101,826.51 on Monday, having gained more than 10% so far this month.


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