Kraken has become the first major U.S.-based crypto exchange to list Official Trump ($TRUMP), the Solana-based meme coin launched by Donald Trump, who has declared himself the “crypto president.”
Trading for $TRUMP began on January 18 at 20:15 PM UTC, according to Kraken’s announcement. However, as the token hit the exchange, it saw a 35% dip in value despite its earlier meteoric rise.
The token, celebrating Trump’s leadership and campaign slogan “Fight, Fight, Fight,” debuted just hours earlier and experienced an initial surge of over 120,000%. By the time trading commenced on Kraken, $TRUMP had already surpassed the infamous 2021 GameStop (GME) stock frenzy, once thought to be the hallmark of market mania in the 2020s. Its market cap skyrocketed to nearly $6 billion, according to CoinMarketCap data.
Trump’s Rallying Cry
Trump unveiled $TRUMP on January 17 via Truth Social and X (formerly Twitter), calling it a rallying symbol for his movement. In his typical fashion, he declared:
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!”
The token’s website describes it as a coin for those who “don’t back down, no matter the odds.” With Trump’s inauguration just days away, the launch has added to the buzz surrounding his impending policies.
Behind the Token
$TRUMP is managed by Fight Fight Fight LLC, which plans to release an additional 800 million tokens over the next three years. The initial batch of 200 million coins hit the market during the launch.
Exchanges Join the Frenzy
Kraken wasn’t alone in listing $TRUMP. Singapore-based Crypto.com added trading pairs, allowing purchases in USD, EUR, and 20 other fiat currencies. Bybit enabled pre-market trading for TRUMP/USDT on January 18 at 9:35 AM UTC via a call auction.
On decentralized exchanges (DEXs) like Raydium, Orca, and Meteora, $TRUMP gained significant traction. In total, over ten exchanges, including MEXC, HTX, and CoinW, now support $TRUMP trading pairs.
January 2025, Cryptoniteuae
