TRUMP Token’s Soaring Popularity Prompts Listing Considerations by Coinbase and Binance

TRUMP Token Takes the Stage: Memecoin to Launch on Major Exchanges Despite Early Setbacks

The TRUMP token, branded as the official memecoin of the 47th U.S. President, has overcome early resistance to secure listings on major cryptocurrency exchanges like Coinbase and Binance. This marks a significant development in the world of politically themed digital assets, despite the token’s rough start.

Listings Across Prominent Platforms

In a recent announcement, Coinbase revealed plans to list the TRUMP token through its Coinbase Assets X account. However, the exchange did not specify a timeline for when the token would be available for trading. Binance, on the other hand, confirmed it would open trading for the TRUMP token starting January 19. Additionally, the token is already available on several other exchanges, including Bitget, KuCoin, and Kraken, according to CoinGecko’s data.

Robust Market Metrics

On-chain data indicates the TRUMP token has garnered impressive trading metrics, boasting a market cap of approximately $7.6 billion and a daily trading volume nearing $15 billion. This has firmly positioned the TRUMP token as a major player in the meme token space, particularly when compared to earlier Trump-centric tokens that faced significant hurdles in gaining exchange support.

MAGA Token Faces Challenges

The first Trump-themed cryptocurrency, the MAGA token, struggled to gain traction on major exchanges. As highlighted by CoinDesk, platforms such as ByBit and OKX rejected the MAGA token due to its political affiliations, while Kraken neither approved nor commented on its listing. Once valued at $17.80 in June, MAGA has since fallen by 84%, with its current price hovering at $1.44, as per CoinGecko.

The arrival of the TRUMP token sent MAGA into a steep decline, with its market cap dropping from $158 million to $64 million within a matter of days. Despite the downturn, MAGA continues to be traded, reflecting ongoing interest in Trump-related tokens.

Concerns Over TRUMP Token’s Centralization

The TRUMP token’s tokenomics have drawn criticism, particularly the fact that 80% of the total supply is held by wallets controlled by CIC Digital LLC, a firm associated with the Trump Organization. CIC Digital, which launched Trump-branded Non-Fungible Tokens (NFTs) in 2023, has sparked concerns regarding the centralization of the token’s supply.

Trump NFTs Gain Traction

Trump-related NFTs are also experiencing a surge in popularity. OpenSea reports that in the past 24 hours, more than 2,800 sales have occurred, generating over 765 ETH (roughly $2.5 million). This increase in NFT activity is likely tied to the growing interest in Trump-themed digital assets, further fueling the buzz surrounding the TRUMP token.

What’s Next for TRUMP Token?

Despite the ongoing debates about its tokenomics and political ties, the TRUMP token is making waves across the cryptocurrency landscape. Whether it can maintain its current momentum and withstand the inevitable volatility of politically driven cryptocurrencies remains to be seen. However, it has undeniably sparked significant interest in the intersection of politics and blockchain technology, with Trump-branded tokens and NFTs continuing to attract attention from both investors and collectors.

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