Source: Wu Says Blockchain
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On the morning of January 18, 2025, Beijing time, Trump announced on his Truth Social account that he would launch a personal meme coin called TRUMP. Users need to visit the website with the domain "gettrumpmemes" to obtain this meme token. GMGN data shows that within less than 30 minutes of opening, the market capitalization of TRUMP has risen to about $700 million. The address holding the most tokens owns 80% of the total supply, and the top five holders own over 90% of the tokens. Subsequently, Trump's Twitter account also retweeted this news, and the token's market capitalization rose to $2.8 billion. On the evening of the 18th, TRUMP's market capitalization briefly surpassed $30 billion.
The creation address of the Trump memecoin added $40 million in unilateral liquidity and deposited 80% of the supply into a multi-signature wallet. The creator's multi-signature wallet holds 80% of the total supply.
According to the GetTrumpMemes official website, Trump Memes 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, investment contract, or any type of security. GetTrumpMemes.com is not involved in politics and is unrelated to any political campaign or any political office or government agency. The Trump Group's subsidiaries, CIC Digital LLC and Fighter Fight LLC, jointly own 80% of TRUMP but must comply with a three-year unlocking plan. The owners of Fighter Fight LLC, CIC Digital LLC, and Celebration Cards LLC will receive transaction revenue generated from TRUMP trading activities. Additionally, 200 million TRUMP will be available on the first day, with an expected total of 1 billion TRUMP over three years. The distribution for each batch will be released according to its own schedule over three years.
The initial SOL funding source can be traced back to the Gate platform. Data shows that the main token holder address for TRUMP is 5e2qRc, with funds supported by the address DKbF4. Notably, this address received funds from Gate two days ago and from Binance ten days ago.
Due to overwhelming demand, Binance temporarily suspended SOL withdrawals, and the withdrawal channels for SOL on the Solana network and BNB Chain were temporarily closed.
Arthur Hayes, co-founder of BitMEX, posted on X, stating, "Trump launching a token marks the opening of the political memecoin market. Any politician not afraid to understand public sentiment in real-time will launch their own memecoin. The token economics are fake, but the token's FDV is heading towards $100 billion."
According to an official post from Jupiter on X, "By closely collaborating with the Meteora team, we ensured the perfect issuance of TRUMP, which is clearly one of the largest issuances in crypto history." It is reported that the issuance of TRUMP utilized the same LFG tech stack as the JUP issuance, including DLMM pools, ILM design, and tight Jupiter integration.
Following Bybit, Gate, and Bitget, Binance announced that it would launch the TRUMPUSDT perpetual contract at 21:00 (UTC+8) on January 18, 2025, with a maximum leverage of 25 times.
According to appfigures data, the cryptocurrency trading platform Moonshot app ranks first in the free finance category in the Apple App Store in the US, surpassing Cash APP, Coinbase, and Cryptocom. Earlier, Jupiter stated that its collaboration with Moonshot promoted the issuance and trading of the TRUMP token.
Moonshot stated that in the past 12 hours, it was recommended as a purchasing method on the official website of the TRUMP token, processing nearly $400 million in transaction volume, breaking the fiat currency entry record, and attracting over 200,000 new users. Moonshot has just supported one of the most significant onboarding events in cryptocurrency history.
Notable market maker Wintermute stated that the TRUMP token is now available for trading on the Wintermute OTC desk. Earlier on-chain analysis indicated that the largest holding address for TRUMP appears to be Wintermute, suggesting that Wintermute may have previously collaborated to provide market-making services for the TRUMP token.
Eric Trump, Trump's eldest son, posted on the X platform, quoting crypto czar David Sacks, "The reign of terror against cryptocurrency is over; the beginning of American cryptocurrency innovation has just begun." He also mentioned BTC, the Trump family's project World Liberty Financial, and TRUMP.
Qiao WANG, founder of Alliance DAO, criticized that while it is cool for the president to fairly launch a meme coin and fully support it, launching a currency that allocates 80% of the supply to insiders completely changes its nature, which is textbook fraud. He also stated that jupiter meteora moonshot phantom pumpfun poses the greatest threat to centralized exchanges and questioned how centralized exchanges would compete with them.
On-chain data shows that more than a dozen on-chain traders have profited millions or even tens of millions of dollars by purchasing TRUMP tokens early, with some already selling for profit.
Analyst Haotian stated that this is a phenomenal event where DEX challenges CEX, causing short-term asset siphoning on DEX, but in the long run, it is actually a significant benefit. Therefore, he remains optimistic about the outbreak of "on-chain spring." The profit effect of super MEME is indeed strong, as MEME is simple and easy to understand, with a low participation threshold, capable of quickly educating the market and attracting new users and funds. The prosperity of the on-chain market cannot be separated from the existence of MEME. However, MEME is just a catalyst and does not equate to the entire market. TRUMP's ability to soar to $20 billion and become the king of MEME is fundamentally different from most MEMEs due to the certainty of the president issuing the coin.
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