Coinbase and Binance plan to list President-elect Donald Trump’s ‘official’ token TRUMP

The “official” memecoin of Donald Trump’s second administration will be listed on major cryptocurrency exchanges including Coinbase and Binance, according to company announcements.

Coinbase posted on Sunday that it plans to list the TRUMP token. The announcement came via its Coinbase Assets

Binance said It plans to open trading on the TRUMP token on the morning of January 19. The token is already trading on several other centralized exchanges, such as Bitget, KuCoin, and Kraken, according to CoinGecko.

On-chain data shows that the token has a market cap of just over $7.6 billion, and trading volume of around $15 billion.

While many of the largest cryptocurrency exchanges have eagerly embraced Trump’s official memecoin, the first Trump-themed token, one of the original Political Finance (PoliFi) coins, has had difficulty getting listed on exchanges.

like As reported by CoinDesk Earlier this year, ByBit and OKX rejected the team’s request to list the token due to concerns about the project being too political. Kraken did not respond to its request for inclusion on the list, nor has it discussed the matter formally.

Trump’s first token, Ethereum-based MAGA, has fallen 84% from its June high of $17.80. According to CoinGeckobut is still actively traded.

MAGA fell hard after the launch of the official Trump token, falling from $3.50 to $1.44 over the weekend with the market cap falling from $158 million to $64 million. The token has slowly recovered after the initial decline likely due to public interest in Trump-themed tokens on the eve of the inauguration.

the Trump symbols It was criticized by many online, who pointed out that 80% of the token supply is controlled by wallets owned by CIC Digital.

CIC Digital LLC is a subsidiary of the Trump Organization Trump non-fungible tokens launched (NFTs) in 2023. Data from OpenSea It shows that there is a second wave of interest in these NFTs with over 2,800 sales in the last 24 hours worth over 765 ETH ($2.5 million).