TRUMP Up 995% Since Launch, Swap Volumes on Crypto Exchanges Like ChangeNOW and Others Shooting Up
The launch of the TRUMP meme coin dominated the weekend, keeping crypto enthusiasts, who typically take weekends off, glued to their screens. The re-elected president unveiled the token on Friday, January 17, just two days before the inauguration, symbolically reinforcing his pro-crypto position ahead of his second term.
At launch, the supply was limited to 200 million coins, with plans to expand to one billion over the next three years, according to the coin’s website. The total supply is capped at 999.99 million, with 200 million currently in circulation. Approximately 80% of the token’s supply is held by CIC Digital LLC, an affiliate of the Trump Organization and Fight Fight Fight LLC.
Image Source: X
The token is currently trading at $75, after briefly peaking at $70 this morning. With a market cap exceeding $15 billion and a trading volume surpassing $19 billion, and rapidly approaching $20 billion, it has quickly climbed to the 12th spot on CoinMarketCap, just behind AVAX and LINK. Just a few hours back, it held the 29th position, but recent activity and increasing interest has moved it up the ranks quickly.
Investors have flocked to platforms like ChangeNOW and others, which responded to the market pulse by adding TRUMP to their roster. The announcement of these listings, including ChangeNOW’s, was made via posts on the social media platform X.
Image Source: X
The token is available for fiat purchases and instant exchanges on this platform, which supports over 500,000 exchange pairs. Among the hundreds of pairs available, with TRUMP/USDT, TRUMP/USDC, DOGE/TRUMP, and SOL/TRUMP being among the most active.
Aside from ChangeNOW, investors can access the token on platforms like Gate.io, Crypto.com, Bybit, MEXC, and several others. It is also available on decentralized markets, including notable ones like Raydium, Orca, and Meteora.
Crypto Market Shows Mixed Reactions to TRUMP
As a meme coin, TRUMP is built on the Solana blockchain and has been posting significant numbers, much like other meme coins on the network, such as BONK, PENGU, WIF, and others. TRUMP's gains have also had a noticeable impact on Solana, which has risen 15% since yesterday. However, the surge hasn't been universally positive across the meme coin space. The most popular meme coin, DOGE, reacted negatively, dropping nearly 6% in the past 24 hours, while others, like PEPE, have seen even steeper declines of up to 10%.
Trump Sets the Stage for His Pro-Crypto Presidency
Given his history with crypto, such as launching multiple NFT collections and introducing a crypto platform last year, it’s no surprise that Trump would eventually debut a crypto coin. His son Eric even predicted that Donald would be the first crypto president in history. With President-elect Trump expected to implement several crypto-related policies during his second term, the broader adoption of digital assets could see notable progress. According to what is known so far, Trump plans to prioritize cryptocurrency through an executive order, create a Bitcoin reserve, and establish a crypto advisory council to tackle regulatory challenges.
