The TRUMP meme coin of former US President Donald Trump created a storm in the cryptocurrency market as soon as it launched on the Solana platform. But behind that resounding success is strong support from three 'giants' in the industry: Ripple, Mike Novogratz's Galaxy Digital, and MoonPay.

The Power Trio Behind the TRUMP Meme Coin

  1. MoonPay Rescues Galaxy Digital and Ripple

    • #MoonPay , the cryptocurrency payment provider, struggled to provide liquidity for the explosive demand for TRUMP tokens in the early days of the launch.

    • To meet the enormous demand, MoonPay had to urgently borrow 160 million USD from Galaxy Digital and Ripple.

    • MoonPay needs to ensure that there are no collateralized loans on its reserve funds to secure the loan.

  2. Moonshot App - The Key to Success

    • #moonshot , MoonPay's meme coin trading app, helps new users easily buy TRUMP tokens just with an email and pay via credit or debit card.

    • The simplification of this buying and selling process attracted over 750,000 new users in just the first week, creating huge trading volumes for $TRUMP tokens.

The High-Stress Liquidity Race

  • Initially, MoonPay estimated it needed 50 million USD in liquidity, but within the first 24 hours, this number doubled to 100 million USD.

  • When #GalaxyDigital provided the initial loan but it was still not enough, MoonPay continued to turn to Ripple.

  • Ripple's CEO, Brad Garlinghouse, agreed to support on the condition that Galaxy Digital would agree. After reaching an agreement, Ripple transferred an additional 60 million USD through Galaxy Digital to provide liquidity for MoonPay.

The Explosive Success of the TRUMP Token

  • In the first 5 days, the TRUMP token recorded over 20 billion USD in trading volume each day, achieving a fully diluted market capitalization of over 73 billion USD in just 48 hours.

  • This token was subsequently listed on major exchanges like Binance and Coinbase, making it easier for many new users to access.

Current Price and Downtrend

  • The TRUMP token is currently trading at 15.37 USD, down more than 79% from its peak.

Conclusion and Risk Warning

  • The TRUMP token has proven the strength of meme coins and political influence in the cryptocurrency market. However, its high volatility and rapid decline in value are also a reminder of the high risks in the crypto market.

  • Investors need to be cautious, not to invest more than they can afford to lose, and always research thoroughly before participating.

  • The cryptocurrency market is very volatile and is not suitable for everyone. Please invest responsibly!