Donald Trump has launched a new cryptocurrency called $TRUMP, which has seen a significant surge in value. Initially priced at $3, it reached a high of $76.94, bringing its market capitalization to approximately $15 billion. Notably, about 80% of the coin's supply is owned by affiliates of the Trump Organization. This move aligns with Trump's intention to position the U.S. as a leader in the crypto industry.
In tandem, Melania Trump introduced her own token, $MELANIA, which experienced an 800% increase in value, trading at $0.035. These developments coincide with Bitcoin reaching a record high of $107,880, reflecting a broader rally in the cryptocurrency market.
The concentration of $TRUMP tokens within entities linked to Trump has sparked discussions about potential ethical and regulatory implications. Despite these concerns, the crypto community is optimistic that the new administration will foster a more favorable environment for cryptocurrency adoption.
