TRUMP Token Achieves $11 Billion Market Cap in Two Days

The TRUMP token rapidly became the 21st largest cryptocurrency with a market cap of $11 billion within two days. Key points include:

• TRUMP/USDT is the most-traded pair on Binance, accounting for 13.3% of total volume.
• Open interest in TRUMP perpetual futures rose by 6% in 24 hours.
• Prices have adjusted from $70 to $58 but remain 3% higher overall.
• The cumulative volume delta indicates increased selling activity, suggesting bearish sentiment among traders.
• Long position holders are facing an annualized funding fee exceeding 170%, indicating potential market overheating.
• Concerns about price declines may lead to unwinding of bullish positions.

Overall, major cryptocurrencies show net selling in perpetual futures, with participants potentially anticipating losses after Trump's inauguration.