Trump’s Memecoin Launches on Solana with $73 Billion Market Cap
President-elect Donald Trump's TRUMP memecoin launched on the Solana blockchain, achieving a fully diluted market cap of approximately $73 billion. This launch is viewed by broker Bernstein as a significant shift in crypto regulation, indicating that governments may now see cryptocurrency as a tool for broader engagement.
- The TRUMP token's value dropped nearly 40% after the launch of Melania Trump's own memecoin, MELANIA.
- Bernstein analysts suggest the launch encourages U.S. crypto developers to innovate despite previous regulatory crackdowns.
- Concerns exist regarding the utilization of 80% of the TRUMP supply controlled by CIC Digital, linked to Donald Trump's trust.
- Potential longevity depends on the token design to support sustainable growth amid high insider ownership.
- The TRUMP token will be listed on major exchanges including Coinbase and Binance.