The ‘official’ memecoin of the second Donald Trump administration can be listed on main cryptocurrency exchanges together with Coinbase and Binance, in keeping with bulletins from the businesses.
Coinbase posted on Sunday that it plans to record the TRUMP token. The announcement got here by way of its Coinbase Belongings X account, which offers data on new property, nonetheless the trade didn’t present a concrete timeline for itemizing.
Binance mentioned it plans to open buying and selling for the TRUMP token on the the morning of Jan. 19. The token is already buying and selling on many different centralized exchanges, equivalent to Bitget, KuCoin and Kraken in keeping with CoinGecko.
On-chain information reveals that the token has a market cap of simply over $7.6 billion, and buying and selling quantity of roughly $15 billion.
Whereas lots of the largest crypto exchanges have eagerly embraced Trump’s official memecoin, the primary Trump-themed token, one of many authentic Political Finance (PoliFi) tokens, had bother getting listed on exchanges.
As CoinDesk reported earlier this 12 months, ByBit and OKX rejected the workforce’s utility to record the token given issues concerning the mission being too political. Kraken didn’t reply to their utility to record, and wouldn’t talk about the matter on the document.
The primary Trump token, the Ethereum-based MAGA, is down 84% from its June excessive of $17.80, in keeping with CoinGecko, however continues to be actively traded.
MAGA dumped onerous after the launch of the officialTrump token, falling from $3.50 to $1.44 over the weekend with its market cap declining from $158 million to $64 million. The token has slowly recovered after the preliminary fall seemingly because of basic curiosity in Trump-themed tokens on the eve of the inauguration.
The tokenomics of TRUMP have been criticized by many on-line, who’ve identified that 80% of the token provide is managed by wallets owned by CIC Digital.
$TRUMP made memecoins worse than VC-backed cash by a large margin.
The Donald Trump Revocable Belief owns 100% of CIC Digital, which has been allotted 80% of the availability of the brand new memecoin launched by @realDonaldTrump.
The identical firm was additionally behind Donald Trump NFTs. pic.twitter.com/RI2Y2wgy8W
— hitesh.eth (@hmalviya9) January 18, 2025
CIC Digital LLC is the Trump Group affiliated agency that launched Trump Non Fungible Tokens (NFTs) in 2023. Information from OpenSea reveals that there’s a second wave of curiosity in these NFTs with over 2,800 gross sales within the final 24 hours value over 765 ETH ($2.5 million).
