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Gate Square New & Returning Creator Rewards are ongoing!
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Trump Launches $TRUMP Cryptocurrency: A Bold Move into the Crypto World
On January 17, 2025, former President Donald Trump launched his cryptocurrency, $TRUMP, on the Solana blockchain, making headlines in the cryptocurrency space. The token's association with Trump and the timing of its release have drawn significant attention.
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Tokenomics of $TRUMP
Total Supply: 1 billion tokens.
Initial Circulation: 200 million tokens released to the public.
Locked Supply: 800 million tokens are held by entities associated with Trump, locked under a three-year release plan to prevent immediate sales.
This allocation has raised questions about market impact and the centralization of token control.
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$TRUMP's Market Performance
Since its launch, $TRUMP has experienced remarkable growth:
Price: Soared to over $30 per token.
Market Cap: Exceeded $6 billion based on circulating supply.
Fully Diluted Valuation (FDV): Approximately $30 billion, considering the total supply.
This growth underscores the power of the Trump brand and its appeal among both supporters and crypto investors.
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Reactions to $TRUMP
The launch of $TRUMP has sparked mixed reactions:
1. Positive Reception:
The rapid price rise demonstrates the strength of the Trump brand and its ability to attract a loyal audience.
The project’s association with a high-profile figure has driven unprecedented interest and participation.
2. Concerns and Criticisms:
Timing Issues: Critics argue that launching the token just before Trump’s presidency raises concerns about ethics and conflicts of interest.
Internal Control: The large internal holdings have drawn scrutiny over potential market manipulation and regulatory risks.
Regulatory Oversight: Ethical watchdogs point out that a president-elect launching a cryptocurrency sets a controversial precedent, especially given the Trump administration’s anticipated crypto-friendly stance.
#$TRUMP Continues to Rise