🧨 TRUMP Coin Loses Steam Amid USD1 Announcements from Liberty Financial
Recovery is difficult for TRUMP meme currency, which hovers at $10.00.
World Liberty Financial, a Trump family endeavor, upgrades USD1 with bridge and swap functionalities.
Low trade volumes and a huge drop in futures market Open Interest indicate investor apathy.
On Thursday, TRUMP's bulls are losing ground as the meme currency approaches $10.00. Due to weakening sentiment, derivatives market Open Interest (OI), and trading volumes, the token's recovery has been slow in recent weeks.
World Liberty Financial unveils USD1 stablecoin upgrades
United States Updates to President Donald Trump's family's World Liberty Financial (WLFI) website include bridge and swap modules for the USD1 stablecoin.
Individual loan and WLFI application modules were also updated. The website shows that all changes except the bridge module are in development and awaiting deployment.
USD1 is a stablecoin that converts 1:1 to USD. US government treasuries and USD provide complete backing for the cryptocurrency. Multi-chain support simplifies adoption, interoperability, and integration.
Over the last 24 hours, TRUMP meme coin trade volume has dropped approximately 14% to $678 million, indicating decreasing enthusiasm. The futures market's open interest fell 12.4% to $383 million.
OI is the number of unresolved futures and options contracts. The TRUMP token's declining OI and trading volume indicate a lack of interest, which reduces market participation and price rises.
Support is at $10.00 and resistance is around $16.00 for the Official Trump meme currency. For weeks, the token has been negative, constrained by profit-taking and traders' lack of confidence.
With $10.00 support intact, a comeback may occur depending on cryptocurrency market mood. The liquidity-rich zone may entice traders to purchase the drop, boosting meme coin tailwinds. Positive areas of attention include seller congestion at $13.00 and the range limit at $16.00, a 55% advance from the current price.
