The introduction of President-elect Donald Trump’s TRUMP memecoin is a paradigm shift in the way the U.S. and the rest of the world approaches crypto, broker Bernstein said in a research report Monday.
“It signifies a new regulatory era, where governments see crypto as a technology to reach out to the masses directly,” analysts led by Gautam Chhugani said.
Trump’s official memecoin debuted on Saturday on the Solana blockchain. It rose to a fully diluted market cap of about $73 billion, making it one of the most successful token launches ever. It tanked almost 40% on Sunday when his wife Melania launched her own memecoin, MELANIA.
A token launch by the president-elect is a big signal to crypto builders in the U.S., especially given the crackdown on the industry by the Biden administration, Bernstein said.
It says “build away in the U.S., and don’t be shy of launching tokens – a new crypto regulatory era is here,” the authors wrote.
Still, the market may want more information on the utilization of the 80% of the TRUMP supply that is held by CIC Digital, an entity that is 100% owned by Donald Trump Revocable Trust.
A memecoin that capitalizes on Trump’s brand and politics has “potential longevity,” but will depend on the token design to “make it less extractive due to 80% insider supply,” the report added.
The TRUMP token will be listed on major crypto exchanges including Coinbase and Binance, according to announcements from the companies.
The price of the “official” Trump memecoin has surged since its Friday evening launch, breaking into the crypto top 20 by market capitalization and hitting an eye-watering $14 billion.
Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run
President-elect Donald Trump and his wife Melania Trump have each launched cryptocurrencies this … [+] weekend, with the so-called memecoins rocketing in value.
Getty Images
“The official Melania meme is live,” the incoming first lady of the U.S. posted to X, alongside a link to a website selling the cryptocurrency. “You can buy $melania now.”
The price of Melania’s coin surged as traders rushed to buy it, pushing it to more than $5 and giving it a fully diluted market cap of over $5 billion.
Like Trump’s coin, Melania’s memecoin—a type of cryptocurrency similar to bitcoin that derives value from the level of community interest and engagement—has been launched on the solana blockchain.
01/20 update: The crypto market is now braced for further cryptocurrency bombshells as Donald Trump’s inauguration gets underway in Washington DC.
“Wait until you see what they do tomorrow,” Trump’s son Eric posted to X on Sunday, adding in a separate post that was shared by Donald Trump: “We are just getting started!”
Following the launch of Trump’s memecoin, World Liberty Financial, the decentralized finance (DeFi) project launch with the support of Trump and his family last year, saw a surge in the sales of its governance token.
“I truly believe that World Liberty Financial will revolutionize DeFi/CeFi [centralized finance] and will be the future of finance,” Eric Trump added.
Meanwhile, the price of Trump’s memecoin has been boosted by trading app Robinhood announcing it would list the cryptocurrency on its platform.
Adding to the already sky high expectations for bitcoin and crypto on Monday, MicroStrategy chief executive Michael Saylor, who has turned his flailing software company into a bitcoin buying vehicle since 2020, posted: “Things will be different tomorrow.”
Saylor’s post fed expectations that Trump could announce a U.S. bitcoin reserve, an idea Trump first floated during a bitcoin conference last year during which he promised to create a national stockpile of bitcoin similar to the country’s gold and oil reserves.
“This is beyond insane,” analysts at The Kobeissi Letter posted to X. “Less than 48 hours ago, Donald Trump launched $trump which just erased $7.5 billion in market cap in 10 minutes. In the minutes around the launch of Melania Trump’s token, we saw massive sell orders in $trump.”
“Looks like crypto is becoming a family business,” X influencer Mario Nawfal posted.
Following the launch of Melania’s coin, Trump’s memecoin crashed by around 40%, diving as traders scrambled to buy the new coin, according to on-chain data.
Donald Trump’s “official” coin has crashed after his wife Melania launch her own cryptocurrency … [+] rival.
TradingView
Early buyers of Trump’s coin have seen triple-digit percentage increases since Friday evening with some traders missing out because they believed Trump’s social media channels had been hacked.
The Trump family memecoin blitz comes after David Sacks, named crypto and artificial intelligence czar by Trump, declared a new age of U.S. crypto innovation.
“The reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun,” Sacks said, speaking on Friday at the so-called crypto ball event, intended to drive support for Trump among the crypto community and demonstrate its value to the incoming administration.
Bitcoin has suddenly shot higher, climbing to a fresh all-time high of around $110,000 per bitcoin as Donald Trump gears up to reenter the White House (with the market braced for a big week ahead).
Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run
U.S. president-elect Donald Trump is expected to sign executive orders on his first day back in … [+] office that some think will blow up the bitcoin price.
Getty Images
“God candle,” Samson Mow, a bitcoin developer who leads the Jan3 bitcoin wallet company, posted to X and referring to a sudden spike in the bitcoin price that creates a “candle” on a trading chart as the bitcoin price suddenly soared, hitting $109,400 on the Coinbase bitcoin and crypto exchange.
Mow has predicted the bitcoin price will rocket to $1,000,000 in 2025, pointing to Trump’s return to the White House and the recent growth of the global money supply.
“History will be made on Monday when Trump becomes the first pro-crypto president in the U.S., and new all-time highs could be imminent,” Lark Davis, a bitcoin and crypto influencer and writer of the Wealth Mastery newsletter, wrote, pointing to “the odds of the U.S. creating a strategic bitcoin reserve in 2025 have skyrocketed” on the crypto-powered prediction platform Polymarket.
The bitcoin price has hit a fresh all-time high, soaring toward $110,000 per bitcoin as Donald Trump … [+] shakes up the crypto market.
Forbes Digital Assets
“We believe Trump will turn some of his crypto rhetoric into action in his first 90 days in office and this should catapult prices,” Ed Hindi, chief investment officer at Tyr Capital, said in emailed comments.
“Creating a U.S. bitcoin strategic reserve will be one of them. Other countries will be forced to follow suit and hence create a price action virtuous cycle.”
Trump, the self-styled crypto president, will reportedly issue several crypto-related executive orders on his first day back in the White House, January 20—with one predicted to spark a huge bitcoin price boom.
“The sudden increase has come from a bunch of potential pro-crypto executive orders that Trump could start issuing from Monday,” Davis wrote, adding: “Things are going to get interesting from here.”
Comments