Donald Trump’s newly launched cryptocurrency $TRUMP has skyrocketed, surpassing $9 billion in market value on Monday.
On Friday night, as Trump reportedly hosted a “cryptoball” for industry leaders in Washington, the president-elect unveiled his meme-inspired cryptocurrency $TRUMP.
According to CoinMarketCap, the digital asset surged 73 percent to $46.06. Its trading volume reached $42.2 billion in the last 24 hours.
Even seasoned members of the cryptocurrency community were surprised by the launch of $TRUMP.
asked D’Anthon, an independent crypto analyst in Hong Kong.
He added that it is very alarming that public figures, especially those with significant political power, are gaining such influence in the speculative markets.
Trump, who has described himself as a “crypto president,” has promised to issue an executive order aimed at reducing regulatory barriers and encouraging wider adoption of digital assets.
The prospect of easing crypto regulations has been warmly welcomed by the industry, sparking a rally in bitcoin following Trump’s November election win.
On Monday, bitcoin, the world’s largest cryptocurrency, was trading down 2.6% at $101,826.51 but is up more than 10% for the month so far.
The post $TRUMP made billions overnight appeared first on The Opinion.
