Trump's Cryptocurrency Surge: A Political and Financial Phenomenon

Donald Trump's newly launched cryptocurrency, $TRUMP, reached a market value of over $10 billion, sparking major trading activity. The launch of $TRUMP and Melania's $MELANIA coin, both on the Solana blockchain, has opened debates about the ethical implications of political figures in speculative markets.

The newly launched cryptocurrency by Donald Trump, dubbed $TRUMP, has seen a dramatic surge, crossing a market value of $10 billion on Monday. This was accompanied by a trading volume in the billions, highlighting investor interest even as it raised eyebrows across the crypto community.

Initiated just ahead of Trump's return to the political arena, the coin saw its price skyrocket from less than $10 to as high as $74.59 before stabilizing. Meanwhile, Melania Trump also introduced a digital token, $MELANIA, which quickly surpassed a $1 billion market cap, adding to the buzz.

CIC Digital, a Trump business affiliate, owns a significant portion of the tokens, raising ethical questions about political involvement in speculative markets. Experts like Justin D'Anethan caution that these developments may blur the line between political influence and investor markets.

(With inputs from agencies.)