TrumpCoin

In a surprising move just days before his inauguration, President-elect Donald Trump has launched his cryptocurrency, $TRUMP, which has seen a meteoric rise in value.  citeturn0search5

$TRUMP’s Market Performance

The $TRUMP token, introduced on Friday night, quickly surged in value. Initially priced at $0.18, it peaked at $21.51, achieving a market capitalization of $8 billion and trading volumes nearing $1 billion. The total supply is capped at 1 billion tokens, with 200 million available at launch. Notably, 80% of the supply is held by Trump-affiliated entities, CIC Digital and Fight Fight Fight LLC, with a planned three-year release schedule.  citeturn0news10turn0news11

TrumpCoin

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Market Reactions and Implications

The cryptocurrency community has responded enthusiastically, viewing the launch as a sign of potential favorable policies under the new administration. Industry executives celebrated the inauguration with a gala featuring performances by Snoop Dogg, Rick Ross, and Soulja Boy, highlighting the growing mainstream acceptance of digital assets.  citeturn0news14

However, the venture has also raised ethical concerns. Critics argue that Trump’s significant financial interest in the cryptocurrency sector, coupled with his policy plans to deregulate the industry, presents potential conflicts of interest. Ethics watchdogs have expressed alarm over the unprecedented business venture of a president-elect so close to the inauguration.  citeturn0news13

Conclusion

The launch of $TRUMP has undeniably made waves in both the political and financial arenas. As the cryptocurrency market continues to react to this development, it remains to be seen how $TRUMP will perform in the long term and what regulatory measures, if any, will be implemented by the incoming administration.

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