Trump Launches New Cryptocurrency, Sees Value Surge of 13,000%
Donald Trump has entered the cryptocurrency market with the launch of his new digital currency called "$Trump," just hours before his inauguration as the President. Initial trading began on January 18, 2025, creating significant buzz on social media platforms, including posts from Trump himself on X and Truth Social.
In a remarkable development, the value of "$Trump" experienced an astonishing surge, rising by over 13,000% within hours, reaching a market capitalization exceeding $13 billion. Early investors were able to turn a $1,000 investment into $130,000, though experts caution that such meme coins, primarily driven by hype and celebrity endorsements, run a high risk of volatility and potential losses.
The currency, which is based on the blockchain platform Solana, has set a limit of one billion total coins, of which 200 million have already been made available for purchase. Despite initial skepticism from some commentators regarding the authenticity of the coin or the potential for cybercrime involvement, it has been verified for trading on various platforms.
Trump's shift towards supporting cryptocurrencies contrasts with his previous critical stance, where he expressed concerns that such digital currencies could undermine the U.S. dollar. This newfound enthusiasm, likely influenced by family and advisory input, marks a significant change in Trump's approach to the increasingly popular digital currency market.
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