Donald Trump and the incoming First Lady Melania have unveiled their digital assets, cryptocurrency _ $TRUMP and $Melania. The announcement was made via the social media platform X, a day after President-elect Trump revealed his cryptocurrency, the $Trump coin. Their cryptocurrency is emerging as a top trend in trading on Monday morning as the ceremony of Trump’s inauguration is taking place today.
“The Official Melania Meme is live! You can buy $MELANIA now,” Melania Trump posted, sparking widespread attention in financial circles. Both coins have experienced significant price movements, though the volatile nature of the crypto market remains evident.
According to its official website, $MELANIA is built on the Solana blockchain, a platform praised for its high transaction speeds and low fees compared to Bitcoin. The website emphasizes that $MELANIA is “not intended as an investment opportunity or security,” positioning it more as a digital collectible than a financial instrument.
Similarly, the $Trump coin carries a comparable disclaimer, making it clear that neither coin offers guaranteed returns or functions as a traditional investment vehicle.
Market data from CoinMarketCap reveals that $Trump currently boasts a valuation of $8.7 billion, while $MELANIA holds a smaller but noteworthy market cap of $1.3 billion, reflecting its early-stage status.
The launch of these cryptocurrencies marks a striking shift in Donald Trump’s stance on digital assets. Despite once calling cryptocurrencies a “scam,” the President-elect has embraced them as a cornerstone of his 2024 campaign. Notably, he became the first major political candidate to accept digital assets as campaign contributions, signaling a potential pivot toward a more crypto-friendly regulatory framework under his administration.
Trump’s campaign promises include creating a strategic bitcoin reserve and appointing financial regulators who would adopt a more lenient approach to cryptocurrencies. This has fueled speculation about a significant transformation in the U.S. crypto regulatory landscape.
The release of $MELANIA and $Trump coins coincides with broader trends in the cryptocurrency market. Bitcoin recently reached an all-time high of $140,000, according to Coinbase, while other tokens like Dogecoin, buoyed by endorsements from figures like Elon Musk, have seen substantial gains.
Meanwhile, Washington, D.C., hosted a “Crypto Ball” on Friday, led by David Sacks, the incoming artificial intelligence and cryptocurrency czar. The event highlighted the growing integration of digital assets into the political mainstream.
Under President Joe Biden’s administration, the crypto industry faced heightened regulatory scrutiny, with lawsuits and enforcement actions targeting major exchanges over concerns about fraud and money laundering. In contrast, the Trump administration’s approach signals a potential turning point for the industry, fostering optimism among crypto enthusiasts.
