Coinbase, Binance Explore Listing TRUMP Token as It Sees a Spectacular Market Entry

Trump-Themed Memecoin Secures Listings on Major Crypto Exchanges Despite Early Challenges

The official memecoin of the 47th President of the United States is set to debut on top cryptocurrency exchanges, overcoming previous hurdles to gain traction in the digital asset space.

Dubbed the TRUMP token, this memecoin has secured listing agreements with major platforms like Coinbase and Binance. Coinbase announced its intention to list the TRUMP token via its Coinbase Assets X account on Sunday, though no specific launch date was provided. Meanwhile, Binance confirmed trading for the token would commence on the morning of January 19. Currently, TRUMP is already available on several other centralized exchanges, including Bitget, KuCoin, and Kraken, as reported by CoinGecko.

Market Overview

Blockchain data reveals that the TRUMP token boasts a market capitalization of approximately $7.6 billion and a staggering daily trading volume of $15 billion. This robust performance underscores significant investor interest, a stark contrast to the struggles faced by earlier Trump-themed tokens.

Historical Challenges with Political Tokens

The first Trump-themed token, the Ethereum-based MAGA, one of the original Political Finance (PoliFi) tokens, encountered notable resistance when attempting to secure listings on major exchanges. As reported by CoinDesk earlier this year, platforms like ByBit and OKX declined listing applications for MAGA, citing concerns over the project’s political affiliations. Kraken, meanwhile, neither approved the listing nor commented publicly on the matter.

Since peaking at $17.80 in June, MAGA’s value has plummeted by 84%, currently trading at $1.44, according to CoinGecko. The token experienced a sharp decline following the launch of the TRUMP token, with its market cap shrinking from $158 million to $64 million over the weekend. Despite this, MAGA has maintained a steady trading volume, driven by renewed interest in Trump-related tokens as the inauguration approaches.

Tokenomics Under Scrutiny

The TRUMP token’s tokenomics have sparked criticism, with analysts pointing out that 80% of the supply is concentrated in wallets controlled by CIC Digital LLC. This firm, affiliated with the Trump Organization, previously launched Trump-themed Non-Fungible Tokens (NFTs) in 2023.

Renewed Interest in Trump NFTs

Trump NFTs are also seeing a resurgence in popularity. According to data from OpenSea, over 2,800 sales have been recorded in the past 24 hours, generating more than 765 ETH (approximately $2.5 million). This renewed activity further reflects the enthusiasm surrounding Trump-branded digital assets.

As the TRUMP token gains visibility across leading exchanges, its long-term success will depend on sustained investor interest and its ability to navigate the highly competitive and often volatile cryptocurrency market.