Bitcoin reached a record high just hours before the US President-elect returned to the White House, while Donald Trump’s freshly developed cryptocurrency surged to nearly $12 billion in market value on Monday, attracting billions in trading volume.
According to CoinMarketCap, which classified Trump’s meme coin, also known as $TRUMP, as the 18th largest cryptocurrency, it was launched on Friday and rose to $58.56 by 0820 GMT on Monday, with a market capitalisation of over $11.7 billion. It made $52.5 billion in trading volume in a 24-hour period.
Trump’s cryptocurrency holdings, which already include World Liberty Financial, were expanded on Friday with the launch of a digital token that featured branding that included an image from his July assassination attempt. Eighty percent of the tokens are controlled by CIC Digital LLC.
According to CoinMarketCap, Melania Trump debuted her own cryptocurrency on Sunday at roughly $12.03, with a market value of $1.9 billion at 0820 GMT.
Early European trading saw Cryptocurrency reach a fresh all-time high of $109,071.86. This month, the biggest cryptocurrency in the world has increased by almost 10%. The introduction of Trump’s meme coin even caught the cryptocurrency community off guard.
The introduction of the official Trump coin raises a number of moral and legal issues, despite the temptation to write this off as another Trump show, according to Hong Kong-based independent crypto analyst Justin D’Anethan.
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