Mon Jan 20 08:47:49 UTC 2025: ## Trump’s New Crypto Token, $TRUMP, Explodes in Value After Launch
**Washington D.C.** – A new cryptocurrency, $TRUMP, launched by former US President Donald Trump, has surged in value, causing a significant stir in the crypto market. The meme coin, featuring an image related to a reported assassination attempt against Trump, skyrocketed 73% in Asian markets, reaching a price of $46.06 and a market capitalization of $9.2 billion. Its 24-hour trading volume reached a staggering $42.2 billion, according to CoinMarketCap.
Launched on January 18th on the Solana network, the token has a total supply capped at 1 billion, with 200 million released in the first phase. Trump promoted $TRUMP on his social media platforms, Truth Social and X (formerly Twitter), urging his supporters to buy. The coin’s sharp rise has sparked mixed reactions, with some praising it as a bold move, while others question its legitimacy and marketing practices. Reports indicate that a significant portion (80%) of the tokens are held by companies linked to the Trump Organization.
Crypto experts remain cautious, citing concerns about the coin’s marketing and potential volatility. The launch comes as Trump, who previously dubbed himself the “Crypto President” during his campaign, is expected to pursue more crypto-friendly policies if re-elected. Reports suggest he might sign an executive order to establish a cryptocurrency advisory council.
The surge in $TRUMP’s value has coincided with an increase in Bitcoin’s price, although Bitcoin saw a slight dip on Monday, trading at $101,826.51 after a 2.6% decline. The overall impact of Trump’s new cryptocurrency and his potential future policies on the crypto market remains to be seen.
First Piper 