Launched by US President-elect Donald Trump on Saturday, the OFFICIAL TRUMP cryptocurrency quadrupled in price in less than 24 hours, and the total trading volume exceeded $10 billion, according to crypto exchange data.
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The “coin” of the same name appeared on crypto exchanges on Saturday night, starting at seven dollars per unit. During the day, its quotes reached $34.5, but then corrected.
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According to aggregator CoinMarketCap, $TRUMP is hovering around $28 as of 5:00 pm ET, with nearly $10.5 billion in total trading volume since launch.
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Economists surveyed expect Trump to give unlimited freedom to Bitcoin, including its possible inclusion in government reserves and the repayment of the US national debt with it.
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Trump himself has repeatedly expressed support for digital currencies. Even before his presidential victory in November, the Republican vowed to turn the United States into the cryptocurrency “capital of the world.” In July, he announced his intention to create a national strategic reserve of bitcoins if he wins the election, and also became the first ex-president in US history to pay with bitcoins during one of his election events.
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The price of Bitcoin within a month after Trump’s victory reached a new all-time high, exceeding $108,000 on the exchange. In early December 2024, Trump announced that he would nominate Paul Atkins to head the US Securities and Exchange Commission (SEC). It is expected that he will make the regulator’s policy more friendly towards cryptocurrencies compared to the current administration of President Joe Biden.
