#TrumpCoin trading is booming.#
Hot Topic Overview
Overview
The meme coin "TRUMP", issued by Donald Trump, sparked a market frenzy upon its launch, with its on-chain trading volume exceeding $7 billion in 24 hours, surpassing the total trading volume of Ethereum and all its L2s. The token's price peaked at $28, boosting Trump's estimated net worth by 400% to $28 billion. Market participants believe that Trump might issue executive orders favorable to digital assets after assuming office, which could inject a "booster shot" into Bitcoin's trajectory. However, analysts also pointed out that the Trump team holds 80% of the TRUMP tokens and might launch it hours before the inauguration, which could be a predatory act that could harm many.
Ace Hot Topic Analysis
Analysis
TrumpCoin trading has exploded, surpassing the total transaction volume of Ethereum and all its L2s in the 24 hours after its launch, exceeding $7 billion. The token reached a price of $28, and Trump's affiliated companies, CIC Digital LLC and Fight Fight Fight LLC, control 80% of the supply. The value of his crypto holdings alone has surged to $22.4 billion. Analysts believe that the TrumpCoin launch marks a new era for the crypto industry and could drive further development in the cryptocurrency market. However, some analysts have pointed out that there is a risk of a bubble in the value of TrumpCoin, and its price could drop significantly in the future.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The launch of TrumpCoin attracted significant capital inflows and generated immense trading volume, even surpassing the combined trading volume of Ethereum and its L2s.
The launch of TrumpCoin is considered a symbol of 'politics and finance combined,' attracting a specific user base, particularly political enthusiasts and conservative supporters.
The launch of TrumpCoin is seen as a symbol of 'anti-elite, anti-traditional financial system,' resonating with the decentralized ideology.
The launch of TrumpCoin is considered a manifestation of the 'celebrity effect' and may propel the cryptocurrency market into a new bull market phase.