Trump hasn't even been sworn in yet, but $Trump has already shaken the crypto market!
Donald Trump's return to the White House is certainly awaited by many investors who support his pro-crypto policies, contributing to a huge boom in the digital currency market today.
Trump's cryptocurrency, $TRUMP, jumped 73% to $46.06, with a market value of more than US$9 billion and daily trading reaching $42.2 billion, according to CoinMarketCap.
Over the weekend, the cryptocurrency's boom reached a high of $78.
The meme coin, which features images from the assassination attempt on Trump in July, combines digital finance with political power, a combination considered high-risk and controversial.
Peter Schiff, chief economist at Euro Pacific Asset Management, praised the $TRUMP surge and labeled it “the new digital gold that is stealing the world’s attention” on the X platform.
Trump has previously promised to be a “crypto president” and is planning an executive order that would loosen crypto regulations and encourage widespread adoption of digital currencies.
Investor expectations of his crypto-friendly policies have fueled Bitcoin’s rally since Trump’s election victory in November.
Is $TRUMP truly a digital gem that will create wealth or just a political bubble waiting to burst?
