bitcoin
Bitcoin (BITCOIN)
$96,285 -0.13%
ethereum
Ethereum (ETHEREUM)
$2,639 0.22%
binancecoin
BNB (BINANCECOIN)
$617.84 -1.27%
solana
Solana (SOLANA)
$199.75 1.12%
ripple
XRP (RIPPLE)
$2.41 -0.30%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000016 -1.53%
pepe
Pepe (PEPE)
$0.000009 -2.03%
bonk
Bonk (BONK)
$0.000017 -1.93%
bitcoin
Bitcoin (BITCOIN)
$96,285 -0.13%
ethereum
Ethereum (ETHEREUM)
$2,639 0.22%
binancecoin
BNB (BINANCECOIN)
$617.84 -1.27%
solana
Solana (SOLANA)
$199.75 1.12%
ripple
XRP (RIPPLE)
$2.41 -0.30%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000016 -1.53%
pepe
Pepe (PEPE)
$0.000009 -2.03%
bonk
Bonk (BONK)
$0.000017 -1.93%
bitcoin
Bitcoin (BITCOIN)
$96,285 -0.13%
ethereum
Ethereum (ETHEREUM)
$2,639 0.22%
binancecoin
BNB (BINANCECOIN)
$617.84 -1.27%
solana
Solana (SOLANA)
$199.75 1.12%
ripple
XRP (RIPPLE)
$2.41 -0.30%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000016 -1.53%
pepe
Pepe (PEPE)
$0.000009 -2.03%
bonk
Bonk (BONK)
$0.000017 -1.93%
Disclosure
Cryptocurrency trading is speculative and your capital is at risk when you trade. We may earn affiliate commissions from some of the products on this page - at no extra cost to you.
Robinhood Announces TRUMP Meme Coin Listing for Spot Trading

Highlights:

  • Robinhood lists Official Trump for spot trading, triggering price surge.
  • TRUMP’s market cap hits $11.76 billion, becoming the 18th-largest digital asset.
  • Solana blockchain congestion caused by TRUMP and MELANIA tokens sparks debates on scalability.

On January 20, Robinhood announced on X the listing of Official Trump (TRUMP) for spot trading. According to CoinMarketCap, the token ranks as the 18th-largest digital asset with a market cap of $10.66 billion. The token dropped 28.19% in 24 hours, reaching $53.9. The token’s valuation surged to approximately $8 billion within three hours of its launch.

Advertisement

Banner

As it was listed on major exchanges like Upbit, HTX, Kraken, Gate.io, OKX, and Binance, its price quickly surpassed $30. On Saturday night, Coinbase revealed it had added TRUMP to its listing roadmap, signaling the exchange may list the token. It recently reached a peak of $75.35 but has since seen a decline.

Robinhood Markets (HOOD) saw its stock rise by 4.45% to $48.15 on Friday, with a 23% gain over the past week, signaling strong investor confidence. Recently, Robinhood faced legal challenges and agreed to pay $45 million to settle SEC charges involving securities violations by two of its broker-dealers. However, the Robinhood’s move grabs the attention.

TRUMP and MELANIA Tokens Trigger Solana Blockchain Congestion and Market Backlash

The TRUMP token launch has overloaded the Solana blockchain, causing delays and failures on platforms like Phantom, Jupiter, and Raydium. This surge has lowered transaction success rates and disrupted trading and transfers. The congestion has impacted centralized exchanges such as Binance, Robinhood, and Coinbase. This has sparked new debates about Solana’s scalability.

Over the weekend, the President-elect launched the TRUMP memecoin ahead of Monday’s inauguration. Shortly after, Melania Trump introduced her own memecoin. The MELANIA token now holds a market cap of $1.69 billion, with a fully diluted valuation of $11.3 billion, according to DEXscreener. Both tokens have contributed to the congestion of the Solana network.

Trump and MELANIA Launch Sparks Concerns Over Manipulation and Financial Risks

Trump is facing criticism despite the token’s success. MELANIA’s release is said to have dropped TRUMP’s price. Delphi Labs co-founder José Maria Macedo blames insider profit-taking.

Trump’s token launch has created both excitement and doubt. 80% of tokens are held by Trump-related companies, raising concerns about manipulation and rug pulls. Coffeezilla called the release “nasty work.” Findeisen warns that many of Trump’s supporters, particularly those new to crypto, may face financial losses.

Venture capitalist Chris Burniske expressed discomfort with the token allocation but sees its potential to spark future innovation, like “The DAO movement of 2016.”

TRUMP’s FDV Surpasses DOGE

The TRUMP token’s fully diluted valuation (FDV) of $61.22 billion has surpassed DOGE’s FDV of $57.41 billion. Andrew Kang, co-founder of Mechanism Capital, posted on X that the TRUMP token could reach a circulating market cap of $100 billion and an FDV of $500 billion, potentially overtaking Dogecoin. He believes investing in the $TRUMP token is better than random Dogecoin.

eToro Platform

Best Crypto Exchange

  • Over 90 top cryptos to trade
  • Regulated by top-tier entities
  • User-friendly trading app
  • 30+ million users
9.9

5 Stars

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.

Advertisement

Banner

Advertisement

Banner

Advertisement

Banner