Trump's cryptocurrency wallet is here! Collaborating with Magic Eden to launch the "$TRUMP Wallet and Trading App", $ME surged 39%
Crypto journalist Molly White posted on the social media platform X early this morning, indicating that former US President Trump is about to launch his cryptocurrency wallet and branded trading app called "$TRUMP Wallet", encouraging his supporters to buy $TRUMP meme coins branded with Trump's name and other cryptocurrency assets:
Exclusive news: Trump will launch a cryptocurrency wallet and branded trading app, encouraging his supporters to buy his meme coin and other cryptocurrency assets.
Collaboration with Magic Eden
Molly White further pointed out in a more detailed report that the "$TRUMP Wallet" is highly related to the $TRUMP meme coin issued before Trump's inauguration, aiming to attract Trump fans to actively trade $TRUMP meme coins and other mainstream cryptocurrencies like Bitcoin.
The project is collaborating with the cryptocurrency company Magic Eden. Although Trump’s team and Magic Eden have not officially announced yet, on June 3, a web application with the domain TrumpWallet.com went online, opening user registration for a waitlist, suggesting an imminent official announcement. The site also has links to a Twitter (now X) account registered in May, indicating that the project has been in preparation for some time.
To attract users, the website banner calls for "1 Million Dollars in TRUMP Rewards!" promising that registered users can participate in a promotion to win "Trump Boxes" containing 1 to 50 $TRUMP meme coins, distributed based on a referral program. Additionally, there is a random draw for waitlist participants, with a grand prize of $100,000 in $TRUMP tokens. The website's terms show that the draw runs from June 3 to July 4.
According to a report from Decrypt, a spokesperson for Magic Eden confirmed the legitimacy of the website and the collaboration with Trump's business partners, stating:
“We have previously collaborated with the TRUMP project, supporting its NFT issuance, and now we are excited to collaborate on the Trump Wallet for a larger project.”
Magic Eden Token Surges
Motivated by this news, Magic Eden's $ME token rose significantly. According to data from CoinGecko, the ME token increased by 39.1% in the last 24 hours, currently trading at $1.15 with a market capitalization of about $172 million.
Magic Eden, an NFT trading platform founded in 2021, has received approximately $150 million in venture capital from investors including Paradigm, Sequoia, Coinbase Ventures, and Electric Capital. Recently, the company expanded into broader digital asset trading by acquiring the decentralized finance (DeFi) trading app Slingshot Finance. Magic Eden launched its own $ME token in August 2024.