Donald Trump’s newly launched cryptocurrency, $TRUMP, skyrocketed on Monday, reaching a market valuation of nearly $12 billion. The token’s trading volume surged to an astonishing $52.5 billion within 24 hours, according to CoinMarketCap. Meanwhile, Bitcoin also hit a new all-time high of $109,071.86, reflecting a broader rally in the crypto market ahead of Trump’s return to the White House.
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Launched last Friday, the $TRUMP token surged to $58.56 by early Monday, making it the 18th largest cryptocurrency globally. The digital asset features branding that includes imagery from Trump’s attempted assassination in July and is backed by CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight LLC, as noted on its official website.
In a parallel move, Melania Trump debuted her own cryptocurrency, which was trading at $12.03 with a market capitalization of $1.9 billion as of Monday morning.
The launch of $TRUMP has sparked widespread discussion in the cryptocurrency community. Justin D’Anethan, an independent crypto analyst, highlighted the ethical and regulatory implications of such a move.
“While this might seem like another Trump spectacle, it raises serious questions about the intersection of governance, profit, and influence,” D’Anethan noted. “Should public figures, particularly those with significant political clout, wield such sway in speculative markets? Regulators are unlikely to overlook this development.”
Peter Schiff, chief economist at Euro Pacific Asset Management, likened $TRUMP to “the new digital gold” in a post on messaging platform X.
Trump has embraced the role of a “crypto president,” vowing to reduce regulatory barriers and promote the adoption of digital assets through forthcoming executive orders. His election victory in November already fuelled a sharp rally in Bitcoin, reflecting optimism among crypto investors about a more lenient policy environment.
As Trump prepares to assume the presidency at noon ET on Monday, the industry anticipates significant policy shifts that could further drive adoption and innovation in the cryptocurrency space.
Whether $TRUMP’s rapid rise represents a transformative moment for digital assets or a speculative bubble remains to be seen, but it has undeniably added fuel to the ongoing crypto frenzy.