Donald and Melania Trump have taken a step into the world of cryptocurrencies by releasing their own memecoins – Trump and Melania. This caused a storm of discussion in the crypto community and beyond, because the launch of tokens from famous politicians is an extraordinary event.
RBK-Ukraine (Styler project) tells why the Trump couple launched their memecoins and what impact they will have on the world of cryptocurrencies.
Motives for the launch
The creation of these cryptocurrencies appears to be a strategic move aimed at tapping into the rapidly growing digital asset market.
It is worth noting that Donald Trump has previously criticized cryptocurrencies, calling them a “fraud.” However, during his 2024 presidential campaign, he embraced digital assets and expressed his intention to make the United States a leader in the crypto industry, seeking to turn the country into the “crypto capital” of the world.
The Trump and Melania launch allows the Trumps to not only take advantage of a lucrative financial opportunity, but also demonstrate their commitment to cryptocurrencies, which could potentially influence future regulatory initiatives.
Market Impact and Volatility
Trump's debut was accompanied by rapid price growth – from the initial $3 to a maximum of $76.94, after which the price stabilized around $50.
This rapid growth emphasizes the volatile nature of memcoins, which often experience significant fluctuations in value due to market sentiment rather than internal value.
Similarly, Melania demonstrated An 800 percent increase in value soon after launch.
Ownership and Ethical Issues
Approximately 80 percent of the Trump token supply is controlled by entities affiliated with the Trump Organization, including CIC Digital and Fight Fight Fight LLC.
Such concentration of ownership raises ethical questions and concerns about a possible conflict of interest, especially given the upcoming Trump presidency and his promises of favorable conditions for the crypto industry.
Critics argue that such actions could undermine efforts to legitimize the cryptocurrency sector and reduce investor confidence.
Broad implications
The Trumps' entry into the cryptocurrency market has had a noticeable impact on the overall digital asset landscape. Bitcoin, the leading cryptocurrency, reached an all-time high of $109,000 amid rumors that the Trump administration will introduce favorable measures for the crypto industry.
However, industry experts warn that the proliferation of memecoins such as Trump and Melania could add risks to the market given their speculative nature and lack of intrinsic utility.
IVANKA TRUMP Token
Today, rumors have appeared online that the market cryptocurrency, a token called “IVANKA TRUMP” (ticker: IVANKA) appeared. However, there is no official confirmation from Ivanka Trump or her representatives about the creation or support of this cryptocurrency yet.
Conclusion
The creation of Trump and Melania cryptocurrencies by Donald and Melania Trump is a significant and unconventional step in the field of digital assets for a political figure and his wife.
While these initiatives may strengthen the Trumps' financial position and align with their vision of a crypto-centric America, they also raise important questions about market stability, investor protection, and the ethical responsibilities of public figures involved in financial ventures.