Trump Launches Virtual Currency, and $TRUMP Soars on the First Day! Market Cap Reaches $12 Billion!

On January 18th, Donald Trump, the President-elect of the United States, posted on his social media account, announcing the launch of his personal Meme coin, $TRUMP.

The tweet read, "It's time to celebrate our victory! Join my 'Trump Community'. Get your $TRUMP tokens. Have fun!" Initially, the market thought his account had been hacked, but then Trump's personal X account also posted the same content.

Meme coins are usually cryptocurrencies generated based on internet culture or celebrity influence. As a globally renowned public figure, Trump's influence has naturally contributed to the rapid rise of $TRUMP .

According to Dune data as of the time of writing, the trading volume of $TRUMP on Moonshot in the past 24 hours reached $2,927,213.4, making it the trading variety second only to USDT. In addition, Moonshot generated $1.597 million in fees yesterday, far exceeding the previous historical record.

At the same time, CoinGecko data shows that the current market capitalization of $TRUMP is $12 billion, which has surpassed several major cryptocurrency projects.

According to the official website, the "$TRUMP " token is issued based on the Solana blockchain, and the total supply is set at 1 billion coins. Among them, 80% of the tokens are jointly held by Trump's two companies, CIC Digital LLC and Fight Fight Fight LLC.

This part of the tokens will be unlocked gradually over three years, and the current market circulation volume is 200 million coins.

This structure is different from the issuance models of many other Meme coins, providing investors with more information to evaluate the long-term potential of the coin.

In addition, the official emphasized that the launch of this coin aims to encourage supporters to participate and convey the values of "Trump's vision", rather than being solely an investment tool.

In addition, the issuance structure of $TRUMP has raised some security concerns. 80% of the tokens are locked and will be unlocked gradually over the next three years, which means that the actual number of tokens in circulation in the short term is limited, and this has also contributed to the rapid increase in its market capitalization.

However, this locking mechanism has also raised market concerns about future price fluctuations.

It is an extremely unusual move for an elected president to launch a new commercial product. Therefore, although $TRUMP 's performance in the market is remarkable, not everyone supports it.

"This is simply crazy," said Jordan Libowitz, vice president of communications for the non-profit organization Citizens for Responsibility and Ethics in Washington.

"For decades, presidents-elect have tried to draw a clear line from their personal financial affairs in the period before taking office to show that there is no conflict of interest. Now, Trump is launching a new business project on the weekend before taking office and promising to relax regulation. Obviously, he wants to blatantly profit from the presidency."

Some critics of Trump in the cryptocurrency field also worry that this product will have a negative impact on the industry.

Anthony Scaramucci, who briefly served as the communications director during Trump's first term, said on the X website on the 18th that Trump's behavior is "bad for the industry". "Don't deceive yourself. This is Idi Amin-style corruption."