🧨 The TRUMP coin loses momentum amid USD1 announcements from Liberty Financial
Recovery is tough for the TRUMP meme coin, which hovers around $10.00.
World Liberty Financial, a company of the Trump family, enhances USD1 with bridge and exchange features.
Low trading volumes and a huge drop in Open Interest in the futures market indicate investor apathy.
On Thursday, the bulls of $TRUMP lose ground as the meme coin approaches $10.00. Due to weakened sentiment, Open Interest (OI) in the derivatives market, and trading volumes, the token's recovery has been slow in recent weeks.
World Liberty Financial unveils upgrades to the USD1 stablecoin
Updates from the website of World Liberty Financial (WLFI) of President Donald Trump's family include bridge and exchange modules for the USD1 stablecoin.
The individual loan and WLFI app modules have also been updated. The site shows that all changes except the bridge module are in development and pending deployment.
The USD1 is a stablecoin that converts at 1:1 to USD. U.S. government treasury bonds and USD provide full backing for the cryptocurrency. Multi-chain support simplifies adoption, interoperability, and integration.
Over the past 24 hours, the trading volume of the TRUMP meme coin has fallen by about 14% to $678 million, indicating decreasing enthusiasm. Open interest in the futures market has dropped by 12.4% to $383 million.
OI is the number of unresolved futures and options contracts. The decline in OI and trading volume of the TRUMP token indicates a lack of interest, which reduces market participation and price increases.
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