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

Trump memecoin launches NFT collection up to number 4 in global volume

Source Cryptopolitan

While the TRUMP memecoin has stolen the headline since it launched late on Friday, the Donald Trump NFT collection also quietly posted a 400% surge throughout the day on Saturday.

Crypto stakeholders were expecting regulatory clarity and more friendliness toward the industry. Nobody saw him launching a memecoin days before his inauguration.

According to reports, the incoming POTUS did not inform those in his circle of his plans to launch a memecoin. The token launch went live hours before the inaugural crypto ball hosted by Trump’s White House Czar, David Sacks.

Analysts calm talks of reward for NFT holders

Growing speculation that holders of Trump’s NFT cards could get allocations of the memecoin caused the collection’s floor price to surge over 400% today. The floor price surged as high as $1,000, making the trading cards one of the best-performing NFT projects in recent times.

Trading activity of Trump NFT trading cards surged along with the memecoins. Source: MagicEden

The NFTs were sold in multiple issues, with an average price of $99 per card. With today’s rally, some holders are up by as much as 13x their buying price on the NFTs.

Investors active in the space quickly highlighted that the same company that helped launch the NFT collections, CIC Digital, is also involved with the TRUMP memecoin.

However, it appears that NFT holders will not receive any automatic allocations or airdrops as outlined on the gettrumpmemes.com website.

The “meme cards” term that led holders to speculate about a potential allocation appears to be another term the project used to describe its tokens, not the previously held NFT cards.

UPDATE: Apparently they call the $TRUMP itself "meme cards" which is also in their terms & conditions.

This makes an airdrop highly unlikely, since "card allocation" in this context means basically "tokenomics", not "allocation for trading cards NFTs" pic.twitter.com/B2rQmIYSWD

— wale.moca 🐳 (@waleswoosh) January 18, 2025

The collection trades on Polygon and has seen a 24-hour trading volume of 2,380,000 $POL ($1.1 million).

The project has yet to make any announcements or acknowledge any chatter about NFT holders receiving token allocations or airdrops.

TRUMP token continues to divide opinions

Like Donald Trump, his memecoin evokes mixed reactions on opposite ends of the spectrum. On one hand, some crypto citizens are excited by the POTUS interacting with crypto at this level. However, the other camp is skeptical about the long-term effect of involvement with the crypto community. Already, many in his circle have made bank thanks to the series of launches linked to his name.

World Liberty Finance, the DeFi project linked to the Trump family is also closely tracked as some in the crypto space consider its transactions with projects as endorsements.

Another issue investors have noted is that Trump Group affiliates CIC Digital LLC and Fighter Fight LLC hold 80% of the token’s total supply. However, those tokens are subject to a 3-year unlocking plan, which helps to allay fears of a sudden dump on the market.

However, there are now claims the launch team has sold up to $500 million worth of the memecoin already.

Still, the memecoin continues to soar to new levels. It has already gained over $5 billion in market cap and almost $13 billion in trading volume to trade for about $29.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

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.

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

Sep 18, Fri

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

Sep 18, Fri

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.

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

7 hours ago

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Popular Symbols