When Politics Meets Crypto 48 Hours Before Inauguration
Just 48 hours before taking office, Donald Trump launched his own memecoin, $TRUMP. This bold decision immediately caused a sensation in the crypto world and beyond, raising questions about the future of finance and potentially the United States itself.
$TRUMP broke all records immediately after its launch, reaching a market capitalization of over $12 billion in record time. This spectacular performance demonstrates Trump's considerable influence, even in the volatile world of cryptocurrencies.
The launch of $TRUMP raises important questions about the increasingly blurred line between politics and finance. Some see it as a bold innovation, while others worry about potential conflicts of interest and the impact on financial stability.
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Reactions to the launch of $TRUMP are divided. Trump supporters see it as a unique investment opportunity, while critics denounce it as an irresponsible gesture on the eve of a presidential inauguration.
The future of $TRUMP remains uncertain. Its initial success is undeniable, but its longevity and long-term impact on the cryptocurrency market and American politics remain to be seen.
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$TRUMP was deployed on the Solana (SOL) blockchain. At the time of writing this article, it was trading at $21, up over 11,000% since its launch, with a market capitalization of over $4 billion. These figures place the token at 46th place in the cryptocurrency ranking and 4th place in the memecoin category.
The token distribution seems to favor the development team. Only 20% of the tokens are dedicated to the community, while the remaining 80% are reserved for the team, with a release that will span 3 years starting next April.
A repeatedly mentioned statement seems intended to protect against potential lawsuits from the Securities and Exchange Commission (SEC): 'Trump memes are intended to express support and commitment to the ideals and beliefs embodied by the «$TRUMP» symbol and associated illustration, and are not intended to be, or to be the subject of an investment opportunity, investment contract, or security of any kind.'
The launch of $TRUMP had a significant impact on other Trump-related cryptocurrencies. Notably, MAGA collapsed by 56% over 24 hours.
Initially, the crypto community questioned the legitimacy of this new asset and its connection to Donald Trump. Doubts were dispelled by the use of Trump's official accounts for the announcement and the involvement of CIC Digital LLC, a company already used by Trump to sell NFTs.
The value of $TRUMP rapidly climbed, bringing the total market capitalization of circulating units to nearly $6 billion. The official website indicates that 200 million tokens were put on the market, with plans to add 800 million more over the next three years.
Initially opposed to cryptocurrencies, Donald Trump made a radical reversal during his recent presidential campaign. He promised to promote the development of this sector, particularly through regulatory easing. Before $TRUMP, entrepreneurs associated with Trump had already launched a cryptocurrency platform called World Liberty Financial in October.
As with any memecoin, caution is advised, even if it's a project associated with Donald Trump. Memecoins are often considered purely speculative assets without real economic or transactional utility.
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The launch of $TRUMP may mark a turning point in the history of cryptocurrencies and American politics. Whether viewed as a joke or a serious threat, it's clear that this event will have lasting repercussions on how we perceive the intersection of technology, finance, and politics.
Ilane Lopez
Founder / CTO
