Donald Trump has surprised the cryptocurrency world with the launch of his own Meme Coin, which has become one of the most successful launches to date. According to the risk simulation company Gauntlet, since its launch just before Trump's inauguration on January 20, the token has generated at least 11.4 million dollars in commissions for entities associated with the former president.
Trump's Meme Coin debuted on January 17 through the Decentralized Finance Exchange Meteora on the Solana blockchain. The project's managers, CIC Digital and Fight Fight Fight, receive commissions through the liquidity sent to the platform to support trading of the cryptocurrency.
Meme Coins are highly speculative cryptocurrencies not linked to any underlying business, making them attractive to investors but also very risky. DeFi exchange platforms use algorithms to determine prices and facilitate transactions without intermediaries. In this case, users trade Trump's memecoins held in liquidity pools.
Since its launch, the token's price has experienced significant volatility, dropping around 60% from its peak of 73.40 dollars. Currently, its value is 27.67 dollars. CIC Digital and Fight Fight Fight, the main sponsors of the project, own 80% of the virtual assets and their stakes will be gradually unlocked over a period of three years.
To acquire Trump's cryptocurrency, it is necessary to create an account on an exchange like Coinbase, Binance, or Solana, deposit funds into the account, search for the TRUMP token, and make the purchase specifying the desired amount. Users can earn commissions by providing liquidity to the funds through smart contracts that record all transactions and commissions.
