New cryptocurrency $TRUMP surged, briefly hitting a $70B market cap
Today, the keys to the White House passed, once again, to Donald Trump.
Inaugurated as the United States of America’s 47th president, today’s swearing-in ceremony — which was moved indoors due to forecasts predicting that it could be the coldest Inauguration Day since 1985 — gives the green light for the incoming administration to begin legislating its substantial agenda. Towards the top of that list of priorities is advocating for the cryptocurrency industry.
Trump 2.0
On Friday, reports emerged that making crypto a national priority could be among a flurry of executive orders that Trump issues on day one. But, before any more details surfaced, the then president-elect sprung another surprise on the crypto universe: $TRUMP — a meme coin he launched while hosting a “Crypto Ball” for the industry on Friday night. Two days later, $MELANIA was born; announced via a social media post from the incoming first lady.
Initially, $MELANIA’s debut dragged $TRUMP. down, but the pair of cryptocurrencies have since regained some footing, and at the time of writing the two tokens have a collective (fully-diluted) market cap of nearly $60 billion.