Trump Coin (TRUMP) is a personal Meme coin announced by former US President Donald Trump on January 18, 2025. This cryptocurrency was released through its official website 'gettrumpmes' and quickly gained widespread attention and discussion worldwide. The launch of TRUMP not only marks Trump's entry into the cryptocurrency field, but also symbolizes a new trend of politicians combining blockchain technology.
Background and Purpose of Issuance
Time selection: The release of TRUMP coincides with the eve of the US presidential inauguration ceremony, which undoubtedly increases media attention and social topicality.
Intention expression: According to the official website of Get RumpMemes, TRUMP aims to express support and participation in a unique understanding and belief in the ownership of the "TRUMP" symbol and its related artworks, and is not intended to be an investment opportunity or any type of securities theme.
Market performance
Market value growth: Within less than 30 minutes of opening, TRUMP's market value has risen to around $700 million; Subsequently, the market value continued to rise, breaking through the billions of dollars mark in a short period of time after its launch. Especially on the evening of January 18th, TRUMP's market value reached a peak of $30 billion.
Trading activity: After the launch of TRUMP, a large amount of funds flowed from centralized exchanges to decentralized financial platforms (DeFi) such as Moonshot and Jupiter, which processed a large amount of TRUMP token trading. In addition, TRUMP has been listed on several major cryptocurrency trading platforms such as Binance, Coinbase, and OKX, further enhancing its liquidity.
On chain dynamics: TRUMP creates addresses that increase unilateral liquidity by $40 million and deposits 80% of the supply into multi signature. The creator's multi signature holds 80% of the total supply, while CIC Digital LLC and Fighter Fight LLC, subsidiaries of the Trump Organization, jointly own this portion.
Social response and criticism
Supporters' viewpoint: Some supporters believe that the launch of TRUMP is epoch-making, as it demonstrates that cryptocurrency as an emerging asset class is gaining wider recognition and support. Meanwhile, some argue that TRUMP may drive policy changes, such as redefining the US Internal Revenue Service's policies on capital gains tax and fair market value assessment of digital assets.
Criticism: On the other hand, the launch of TRUMP has also faced many doubts. Some critics are concerned that this highly centralized token allocation model may lead to unfair distribution of benefits and may trigger regulatory issues. For example, Qiao Wang, co-founder of AllianceDAO, criticized that while it is cool to launch memes fairly, launching a currency that provides 80% of the supply to internal personnel is suspected of fraudulent behavior.
Impact on the industry
DEX vs CEX: The explosive trading volume of TRUMP demonstrates the advantages of decentralized exchanges (DEX) over centralized exchanges (CEX), especially when dealing with large-scale token issuances. This incident is considered a phenomenal event in which DEX challenged CEX, causing a short-term blood sucking effect on existing assets on DEX, but in the long run, it will help promote the healthy development of the entire industry.
Wealth Effect: The success of TRUMP has also brought significant wealth effects, attracting a large number of new users to enter the cryptocurrency market and bringing unprecedented attention and development opportunities to Solana Chain.
