#TrumpCoin Soars#
Hot Topic Overview
Overview
The meme coin TRUMP, launched by former US President Donald Trump, has sparked a frenzy in the crypto market, surging 1250% in price within just 24 hours. On-chain trading volume has surpassed $7 billion, exceeding the total trading volume of Ethereum and all its L2s. The launch of the token has also propelled the Solana ecosystem, with Moonshot trading volume hitting $400 million within 12 hours, and Meteora TVL surpassing $1 billion for the first time. Bybit CEO BEN stated that significant amounts of SOL and USDC have flowed out of the market to purchase TRUMP on-chain, and believes that 2025 will be focused on building Onchain Bybit. However, there are concerns raised by institutions and individuals regarding the token's ethics and risk, citing its high speculative nature and potential conflicts of interest.
Ace Hot Topic Analysis
Analysis
The meme coin TRUMP, released by Donald Trump, triggered a frenzy in the crypto market upon its launch. Its on-chain transaction volume surpassed $7 billion in 24 hours, exceeding the total transaction volume of Ethereum and all its L2s. The coin's price surged to $28 at one point, boosting Trump's net worth to $28 billion overnight. Market analysts attribute TRUMP's success to Trump's personal brand and celebrity effect, as well as his political capital and market positioning. The coin's launch also drew attention to the crypto industry and propelled the prosperity of the Solana ecosystem. However, some institutions raised ethical concerns about TRUMP, suggesting potential conflicts of interest and speculative risks. Bybit CEO BEN stated that the launch of TRUMP demonstrates the importance of the on-chain ecosystem, and announced Bybit's focus on building Onchain Bybit in 2025. Overall, TRUMP's launch has had a significant impact on the crypto market, sparking interest in meme coins and the on-chain ecosystem.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The launch of TrumpCoin leveraged celebrity effect and political halo, attracting a large number of investors, especially Trump supporters. It also utilized the strong liquidity of the market to trigger FOMO sentiment.
The launch of TrumpCoin leveraged the decentralized concept, positioning itself as a symbol of 'anti-elite, anti-traditional financial system', attracting specific user groups, particularly political zealots and conservative supporters.
The launch of TrumpCoin leveraged market timing, launching during the early stages of a new bull market, taking advantage of the strong market liquidity to trigger FOMO (fear of missing out) sentiment.
The launch of TrumpCoin leveraged policy expectations. The increased possibility of Trump being re-elected as president brought potential expectations of 'government endorsement' to the market.