What is the new Trump digital currency
US President-elect Donald Trump launched a new digital currency bearing his name "Trump" ($TRUMP) via his social media platform "Truth Social", accompanied by the message: "The new official Trump meme is here! It's time to celebrate everything we stand for: winning!".
The currency was launched on the "Solana" network, and witnessed a huge increase in its value by more than 4200% within just two hours of its launch, raising its market value to $7.7 billion.
A trader bought about 6 million of the "Trump" currency worth $1.1 million, and its value doubled within 90 seconds to $23 million, achieving a net profit of more than $20 million.
This rapid rise sparked widespread controversy and concerns about the possibility of user accounts being exposed to electronic theft as a result of the great demand for the currency.
According to reports, 200 million Trump Coins have been traded, with a market cap of $14.5 billion and a trading volume of over $1 billion.
It is worth noting that this is not the first time Trump has launched a coin bearing his name; in September 2024, he launched a silver coin of his design, made of pure silver, at a price of $100 per ounce.
It is worth noting that the launch of this digital currency comes two days before Trump is inaugurated as President of the United States, which may add a political and economic dimension to this event.
