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The newly launched memecoin, Official Trump (TRUMP), is making waves in the cryptocurrency market following its listing announcement by Robinhood. Early on Monday, TRUMP’s price surged by 35% within two hours, rising from $45 to $61 after the announcement.
Trump’s Memecoin Move Triggers New Listings
Currently, TRUMP has reached a market capitalization of $12.1 billion, with a fully diluted valuation (FDV) of $60 billion. The increased metrics of the memecoin have created significant buzz in the cryptocurrency sector, with The Kobeissi Letter stating on social media that this announcement added $2.5 billion to the coin’s market cap.
The TRUMP memecoin, introduced before Donald Trump’s presidential term, is quickly being listed on major exchanges, including Gate.io, Bitget, BingX, and MEXC. These listings have notably heightened interest in cryptocurrencies associated with Trump.
Demand Increases for DeFi Project World Liberty Financial
In addition, Melania Trump has launched her own memecoin, named Melania (MELANIA), which reached a market value of $1.69 billion in its early days, with an FDV of $11.3 billion. The activity surrounding TRUMP and MELANIA coins highlights the Trump family’s influence in the cryptocurrency world.
The Trump family’s interest in memecoin projects is also reflected in the decentralized finance (DeFi) project World Liberty Financial (WLF). Over the weekend, a significant increase was observed in the sales of WLF’s governance token, with 20% of its total supply being consumed. Due to continued demand, WLF has released an additional 5% of its total supply for sale.
Donald Trump’s innovative approach has generated both complaints and positive feedback in the cryptocurrency market. The listing decision by Robinhood for TRUMP and Melania Trump’s memecoin is seen as a development that could shape future movements in the market.
