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President-elect Donald Trump recently introduced a new cryptocurrency, $TRUMP, on the Solana blockchain, leading to significant market activity.
As of January 20, 2025, $TRUMP is trading at $28.58, with a 24-hour trading volume of $470.22 million and a market capitalization of $5.71 billion.
The token's total supply is capped at 1 billion coins, with 200 million initially available. Notably, 80% of the supply is held by Trump-affiliated entities, CIC Digital LLC and Fight Fight Fight LLC, with plans for gradual release over three years.
Major exchanges, including Gate.io, have listed $TRUMP, facilitating its trading.
The launch has sparked discussions about potential conflicts of interest and ethical considerations, given the significant insider ownership and timing before Trump's inauguration.