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- Donald Trump’s TRUMP is now accepted as a payment method across various Trump-associated platforms, including GetTrumpWatches.com and GetTrumpFragrances.com.
- TRUMP has also been integrated as a payment option on Travala.com, a travel service, allowing bookings with the meme coin.
The TRUMP meme coin, launched just before President Donald Trump’s inauguration, is swiftly carving out its place in the crowded meme coin arena. With its debut, TRUMP presents a challenge to older meme coins, offering a new twist by blending cryptocurrency with Trump-branded consumer products. Websites such as GetTrumpWatches.com, GetTrumpFragrances.com, and GetTrumpSneakers.com are now accepting TRUMP as a payment method, alongside Bitcoin (BTC) and credit cards. These sites aim to capitalize on Trump’s pro-crypto stance and attract crypto-savvy shoppers.
Launched on the Solana blockchain, TRUMP has rapidly gained popularity, amassing around 700,000 holders. These holders benefit from the platform’s speed and security, as highlighted by blockchain analytics provider Solscan. Initially, 200 million tokens entered circulation, but over the next three years, the supply will expand to 1 billion tokens. Customers using Trump-affiliated websites can complete transactions with TRUMP, addressing concerns about the meme coin’s potential use beyond speculation.
In addition to retail, TRUMP has also expanded its reach to the travel sector. Travala.com, a blockchain-based travel service, announced on X that it now accepts TRUMP for hotel bookings, flights, and activities worldwide. The platform supports over 100 cryptocurrencies, offering users greater flexibility in using digital assets for travel. As reported by Bloomberg, the trading activity around TRUMP has already generated significant fees for Trump-related entities, with estimates suggesting $11.4 million in fees since the coin’s launch.
📢 NEW INTEGRATION ALERT:$TRUMP is now live on Travala! 🎉
You can now book hotels, flights, and fun activities around the world and pay with $TRUMP ✈️
Who’s ready to travel like a boss with @realDonaldTrump? pic.twitter.com/g8AoTmoyCx
— Travala.com 🏨 ✈️ (@travalacom) January 22, 2025
Financial and Ethical Implications
The rising popularity of the TRUMP meme coin has sparked important questions regarding its financial and ethical implications. Critics have raised alarms about centralization and the risk of financial exploitation. Massachusetts Republican John Deaton, an advocate for crypto, pointed out that approximately 80% of the Trump coin’s tokens are controlled by CIC Digital, an affiliate of Trump’s business, along with another group called Fight, Fight, Fight. This concentration of ownership has generated fears of “rug pulls” and the potential for significant financial losses among ordinary investors.
Additionally, Deaton expressed concerns about possible conflicts of interest, indicating that foreign nationals might attempt to channel funds through the coin, using its connection to the former president for political or financial advantage. He suggested a proactive approach, remarking, “I gave the president unsolicited advice. I proposed that we donate all TRUMP profits, after expenses, to hurricane and wildfire victims. So, I’m hoping they take my advice.”
TRUMP is currently trading at $27.03, reflecting a 7.40% decline in the past 24 hours. This represents a substantial 62.61% drop from its all-time high of $75.35, reached just two days after its launch.
Despite these, TRUMP holds a strong position in the market, boasting a 24-hour trading volume of $2.64 billion and a market capitalization of $5.6 billion, ranking it 26th among cryptocurrencies. However, over the past week, TRUMP has underperformed relative to the broader cryptocurrency market, which experienced a decrease of 3.20%.
