Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Kraken becomes first US crypto exchange to list TRUMP meme coin as it declines by 35%

Source Cryptopolitan

Kraken has become the first major US-based crypto exchange to list Official Trump (TRUMP), the Solana-based meme coin launched by self-proclaimed ‘crypto president-’ Donald Trump.

According to the company’s official announcement, trading for the controversial token began at 20:15 PM UTC on January 18. But as the token hits Kraken, it also saw a 35% decline in value.

The token, which celebrates Trump’s leadership and his campaign slogan “Fight, Fight, Fight,” debuted only a few hours ago but has since seen an over 120,000 surge. TRUMP has now surpassed retail sensation stock GameStop (GME), which made history in 2021 and was thought to be the biggest market mania of the 2020s.

The initial market frenzy sent TRUMP’s market cap soaring to nearly $6 billion, according to data from CoinMarketCap.

Trump launched the meme coin on January 17 through a post on Truth Social and X (formerly Twitter). In his signature style, Trump hyped the token as a rallying point for his movement, declaring, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!”

The coin’s official website described TRUMP as a token for those who “don’t back down, no matter the odds.” And Trump’s highly-anticipated inauguration is less than 48 hours away.

Behind the scenes, the token is managed by Fight Fight Fight LLC, a company promising to release an additional 800 million TRUMP tokens over the next three years. A first batch of 200 million coins hit the market during the launch.

Exchanges pile on

Other major centralized exchanges (CEXs) were ahead of Kraken. Singapore-based Crypto.com added trading pairs, allowing users to purchase TRUMP using USD, EUR, and 20 other fiat currencies. Meanwhile, Bybit opened pre-market trading for TRUMP/USDT with a call auction on January 18 at 9:35 AM UTC.

On decentralized exchanges (DEXs), the token gained traction too. Platforms like Raydium, Orca, and Meteora listed TRUMP. In total, more than ten exchanges, including MEXC, HTX, and CoinW, now support TRUMP trading pairs.

But this whole thing is just Trump putting his money where his mouth is. Last summer, he spoke at a Bitcoin conference in Nashville, promising to make America the “crypto capital of the planet.”

His sons, Donald Jr. and Eric founded World Liberty Financial, a family-run venture focused on decentralized and centralized finance (DeFi and CeFi). Eric has called TRUMP “the hottest digital meme on earth.”

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

Sep 16, Wed

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Gold rebounds to near $4,350 on weaker US Dollar, falling oil prices Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Author FXStreet

Yesterday 01: 32

Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

Yesterday 07: 43

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Popular Symbols