Trump family-branded crypto currencies rise in value ahead of inauguration
Date
1/21/2025 1:37:09 AM
(MENAFN) While Bitcoin reached all-time highs on Monday before the US presidential inauguration of Donald Trump, who has become an advocate for bitcoin, meme coins named after newly elected president and his wife have also seen a significant rise in value.
The TRUMP coin, unveiled on January 18, drifted between USD38 and USD75 through the last 24 hours and increased by 700 percent in only two days.
TRUMP's market cap stands at approximately USD11 billion whereas the 24-hour volume is at USD47.4 billion.
Another meme coin, MELANIA, launched by the incoming first lady Melania Trump just 12 hours ago, saw a 50 percent rise, reaching USD 11.
MELANIA's market capitalization now stands at USD 2.13 billion, with a transaction volume of USD 4.55 billion.
It is quite unusual, if not unprecedented, for a US president's family to market such products, but Trump – outside the presidency – has made headlines by promoting items such as Bibles, non-fungible tokens (NFTs), and sneakers.
Following Trump's victory in the November elections, the market has anticipated positive developments for cryptocurrencies, especially after his pledge to make the US the "crypto capital" of the world.
"If crypto is going to define the future, I want it mined, minted and made in the USA. It is not going to be made anywhere else," Trump stated last July.
MENAFN21012025000045015839ID1109111138
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.