On Monday, Donald Trump’s new cryptocurrency surged to almost $12 billion in market value with trading volume recorded in billions, while bitcoin also topped record just hours ahead of his return to the White House.
Trump’s meme coin, the $TRUMP, swells to $58.56 at 0820 GMT on Monday, bringing its market capitalization to around $11.7 billion, according to CoinMarketCap, which put the meme coin as the 18th biggest cryptocurrency. The coin trading volume reached $52.5 billion during its 24 hours trading sessions.
Trump launched his digital token on Friday, expanding his interest in cryptocurrency which already includes World Liberty Financial. 80% of the total amount of tokens are owned by CIC Digital LLC, which is an affiliate of The Trump Organization and Fight Fight Fight LLC, as stated on the token’s website.
Bitcoin, the world’s largest cryptocurrency, has hit a new record of $109,071.86 in early sessions of European trading. In January, Bitcoin has climbed 10% so far.
World Liberty Finance is the decentralized finance (DeFi) project backed by Trump and his family members. Its goal is to strengthen the global status of the U.S. dollar by promoting the mass adoption of stablecoins, while the site itself would act as a marketplace for borrowing and lending cryptocurrency.
Additionally, World Liberty Financial has purchased three new domain names in the last 24 hours: trumpcoin.eth, erictrump.eth and barrontrump.eth.
