US President Donald Trump’s new crypto token, $TRUMP touched greater than $10 billion in market worth on Monday, January 21, 2025.
A cartoon picture of US President-elect Donald Trump with cryptocurrency tokens, depicted in entrance of the White Home to mark his inauguration, displayed at a Coinhero retailer in Hong Kong, China, on Monday, Jan. 20, 2025. Bitcoin reached an all-time excessive because the US prepares to inaugurate pro-crypto President-elect Donald Trump.(Paul Yeung/Bloomberg)
Nonetheless, the optimism surrounding his re-election in the direction of the crypto market has additionally resulted in different cryptocurrencies hovering. Bitcoin, as an example, hit a brand new file excessive.
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That is in sharp distinction to the regulatory scrutiny the crypto trade confronted below the presidency of Joe Biden.
Trump’s new meme coin was launched on Friday evening and surged from lower than $10 on Saturday morning to as a lot as $74.59 earlier than giving up a few of its beneficial properties on Monday, in keeping with a Reuters report.
It’s at present buying and selling at $33.69 a bit on CoinGecko. That is down 31.2% from the day past.
In the meantime Bitcoin, the world’s largest cryptocurrency hit a file excessive of $109,071 on Trump’s inauguration day because the forty seventh President of the US.
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It later misplaced a few of these beneficial properties, and is now buying and selling at $102,302.75, in keeping with Bloomberg information. This was a lack of $191.88 or 0.19% from Monday.
Even the Solana coin rose to a file excessive of $294.33 on Sunday. Each the $TRUMP and $MELANIA meme cash had been constructed on the Solana platform.
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At present round 80% of Trump’s cash are owned by CIC Digital which is an affiliate of Trump’s enterprise and one other entity known as Struggle, Struggle, Struggle.
Trump’s web value is estimated to be $7.16 billion, in keeping with the Bloomberg Billionaires Index. His wealth has additionally grown by $680 million year-to-date, in keeping with the index.