U.S. President-elect Donald Trump’s “Official Trump” memecoin rebounded to over $60 after Robinhood announced the listing of the memecoin on its platform.

Stock trading and investing platform Robinhood announced early Monday morning that Official Trump (TRUMP) is available for trading on its exchange. The news appears to have driven up the price of the newly launched memecoin to $61 from around $45 within the past two hours, according to The Block’s price page.

Official Trump’s market capitalization currently stands at $12.1 billion with a $60 billion fully diluted valuation. “The coin just added $2.5 billion of market cap on this announcement,” wrote The Kobeissi Letter on X.

Meanwhile, several crypto exchanges, including Gate.io, Bitget, BingX and MEXC, also rushed to list Melania Trump’s Memecion, “MELANIA.”

Over the weekend, the President-elect launched the TRUMP memecoin ahead of his inauguration on Monday, with Melania Trump soon following suit with her memecoin. The MELANIA token currently has a market cap of $1.69 billion, with its FDV reaching $11.3 billion, according to DEXscreener.

World Liberty Financial, the DeFi project associated with Trump, also saw surges in governance token sales on Sunday. It has sold 20% of the 100 billion token supply and has opened up an additional block of 5% of the token supply to meet the substantial demand.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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