Cryptocurrency markets can Farabi (2020) Feneo Original Web Seriesbe chaotic, but Trump (or teams connected to him) just took it to the next level.
Days ahead of Trump's inauguration as President of the United States, scheduled for Monday, Jan. 20, Trump launched the $TRUMP memecoin on crypto platform Solana. The President-elect posted the news from his official X account, making it as official as can be.
This Tweet is currently unavailable. It might be loading or has been removed.
This is not exactly news. Trump has endorsed cryptocoins and crypto projects before, though this one is now billed as the "only Official Trump Meme." The difference, however, is that this new memecoin – which, by the way, doesn't do anything, it's just a coin named TRUMP – was launched just ahead Trump's inauguration, making it easy to interpret it as a sort of an endorsement of the Solana platform, memecoins in general, and the practice of unscrupulously capitalizing on attention by launching a quick pump-and-dump scheme.
For an idea of how these things typically go, check the recent HAWK coin fiasco. As for the TRUMP coin, it quickly rose from basically zero to an astonishing $83, which multiplied by the number of coins (one billion) meant $TRUMP at one point had a fully diluted valuation (FDV) of $83 billion.
The enormous race to get into the $TRUMP coin caused an unprecedented liquidity drain on the rest of the market, with nearly all other cryptocurrency coins being sold off and losing value. As of this writing, $TRUMP sits at roughly $58, giving it a FDV of $58 billion. Some of the other crypto coins recovered in the meantime, with Bitcoin actually reaching an all-time-high price of $109,000 early on Monday, though numerous altcoins are still deeply in the red.
This Tweet is currently unavailable. It might be loading or has been removed.
This, however, apparently wasn't chaotic enough for Trump and his crypto army, who followed up by launching an official $MELANIA memecoin during Trump's victory rally on Sunday.
The launch resulted in yet another race to buy the coin, draining the liquidity from nearly everything on the market, including $TRUMP. So far, though, $MELANIA is doing well, with a price of $11.26, and a fully diluted valuation of $11.5 billion.
SEE ALSO: Bitcoin finally hits a massive price milestoneCryptocurrencies are known to be volatile, and coins often rise from basically nothing to millions or even hundreds of millions of dollars in valuation within days, but the meteoric rise of $TRUMP was nuts even by those standards. With inauguration ahead of us, things are probably about to get even crazier.
Topics Cryptocurrency Donald Trump
Amazon requires sellers to use more efficient packaging, or pay up
Woman finds parents' old love letters and reduces the internet to tears
'Dog Days' is a reminder that there's only one perfect canine rom
Google tracks you even if you turn off 'location history': report
This is the fattest of the extremely fat bears
The 'Matilda' challenge is here to spread a little magic through this dark world
BBC presenter caught messing with her phone on live television
Jerry Seinfeld posts jokey Google Maps reviews for his Netflix series
Samsung Unpacked stream is set for May 12, 2025
MoviePass users are angry after finding cancelled accounts reactivated
10 Tech Predictions for 2017
Hawaii's newest volcanic cone is over 100
From iPhone 9 to iPhone XS: What will Apple call the 2018 iPhones?
27 times Elizabeth Warren masterfully burned Donald Trump
The State of PC Gaming in 2016
'Doom Eternal': 5 big features revealed at QuakeCon 2018
Creative Mom used Imgur to get her son to take out the trash
Notorious RBG basically tells Texas abortion law to GTFO
Japan orders Google to stop alleged antitrust violations
This 'Game of Thrones' theory about Tyrion just got some compelling new evidence
50% off QuickBooks SelfFacebook announces ban on deepfakes, but it won't stop misinformationRoyole puts its flexible display tech into an AlexaGucci posted a load of weird memes and the internet is cringing hardMercedes' concept car is 'Avatar'Here's a simple trick for getting over someoneHyundai reveals flying taxis for Uber AirThe #CupBlowingChallenge is about to blow up your timelineCute grandparents are devoted to 2 things: Each other and InEvery single wig Moira Rose has worn on 'Schitt's Creek'UK bans laptops and big smartphones on airlines from 6 countriesHere's a simple trick for getting over someoneTime's Up releases guide to help actors better understand their rightsAmazon's Alexa will do your bidding from a Lamborghini sports carBAFTA head responds to backlash over lack of diversity in 2020 nominationsAudi concept car is an autonomous escape complete with VR headsetsCheck the numbers, it's true: People really like Lyft over Uber, even before #DeleteUberJared Kushner is building a skyscraper and, well, it looks like a dickPatricia Arquette called out Trump's dangerous war tweets at the Golden GlobesAn Instagram comedian raised $30 million in three days for Australia's unpaid firefighters Xbox's 'Project Scorpio' brings heftier specs than any other console Facebook M is finally here, and it sounds a lot like Clippy Corporations like PepsiCo will never be 'woke,' but here's how they can be better There's more to tech stock photography than hokey gold bitcoins Michael Bay has 14 'Transformers' stories ready oh no American spies now have their own app You can finally get an FDA 'Marvel Heroes' fans are NOT happy about this 'Omega' console release YouTube creators can now only monetize when they reach 10,000 views No way out: You can't delete a Mastodon account Spotify killed the epic instrumental intro Google takes on fake news with 'Fact Check' tags in Search and News Struggling to lead? Turns out, people like being treated like people (here’s how) Police drones will watch over runners at this year's Boston Marathon Oldest living Aussie leader loves chugging beer so much, he's created his own People are stunned by Brian Williams' praise for Trump's missile strike Harry Styles, culinary expert, has predicted the next kale and you might not like it Ad tech startup InMobi becomes India's second profitable unicorn Hey youth: McDonald's wants you to apply for jobs on Snapchat Earbuds let you send texts and emoji with facial exspressions
1.6228s , 8225 kb
Copyright © 2025 Powered by 【Farabi (2020) Feneo Original Web Series】,Inspiration Information Network