- The TRUMP token gained attention with over 600% growth, becoming the 19th largest cryptocurrency by market cap.
- Major exchanges like OKX, Kraken, and Crypto.com listed TRUMP quickly, boosting its popularity among investors.
The launch of the Official Trump (TRUMP) token has sparked a wave of excitement in the crypto market, coinciding with Donald Trump’s victory in the US presidential election. Officially revealed on Friday, January 17, 2025, the token’s explosive climb has made news, and its value skyrocketed over 600% as of writing.
TRUMP Token Gains Ground as Exchanges Rush to List It
According to CoinMarketCap, the TRUMP token peaked at an all-time high (ATH) of $47.05, then settled around $46.55 at the time of writing. Its market cap rising to $9.32 billion, this token is now the 19th biggest crypto in the world.
Additionally drawing interest from big crypto exchanges is Trump’s explosive climb. Leading CEXs like OKX and Kraken have listed the coin on their spot trading exchanges; HTX and Crypto.com have followed suit.
Furthermore, based on their most recent comments on social media platform X, Coinbase and Binance are apparently getting ready for listings too.
Assets added to the roadmap today: Official Trump (TRUMP)https://t.co/rRB9d3hSr2
— Coinbase Assets 🛡️ (@CoinbaseAssets) January 19, 2025
Institutional Backing and Strategic Crypto Plans Fuel TRUMP Token Hype
Under management by CIC Digital LLC, a Trump Organization entity, and Fight Fight LLC, the project is intended as a celebratory meme coin. Having 80% of the total supply of the token, these organizations indicate strong institutional support for the token.
Building on the trend, the Trump government is expected to declare executive orders endorsing the crypto sector and start the building of a strategic Bitcoin reserve. This has increased the buzz among investors and crypto aficionados, therefore reinforcing Trump’s reputation as a market disruptor.
Criticism Surrounds Controversial Meme Token Launch
The TRUMP token has not been without controversy notwithstanding its popularity. Former White House Communications Director Anthony Scaramucci severely attacked the initiative, labeling it “corruption on the level of Idi Amin.” He voiced worries about the consequences of the token for the larger crypto market.
Crypto industry analyst Stephen Fiendeisen, also known as Coffeezilla, expressed skepticism. He cited as red flags the launch’s timing, dubious valuation measures, and lack of openness in distribution. Emphasizing that the internal stakeholders were ready to earn disproportionately, Fiendeisen accused the enterprise of using Trump’s supporters for financial advantage.
On-Chain Activity and Investor Enthusiasm Amid Debates
Besides that, Arkham revealed that the Trump team did not sell $500 million worth of tokens as many had feared. Instead, the team holds approximately $500 million in TRUMP liquidity across various on-chain pools.
They have withdrawn a total of $20 million in USDC from these pools and sent around $92 million worth of TRUMP tokens to various exchanges.
Still, the amazing performance of the token rules most conversations in the crypto space. The argument about its validity has done little to discourage investors, who continue enthralled by the mix of fresh ideas and political support Trump offers.
As Donald Trump prepares for his second term as president, the popularity of the Trump token could herald a significant shift in the meme coin sector.
