Donald Trump is a big believer in something new: Solana.
What’s happening:
- Donald Trump has officially launched his own meme coin which is built on the Solana blockchain
By the numbers:
- Donald Trump’s meme coin TRUMP quickly soared to more than a $30B USD market capitalization, making it the single most successful launch of a digital asset ever
- In the first 12 hours since launching, there were more than 450,000 individual holders of the token
- As a consequence of enormous trading volumes for Donald Trump’s new meme coin, Solana saw more than $10B USD in trading volumes within 24 hours across decentralized exchanges which is a new all time record
Why it matters:
- This is the first time ever that a incoming president of the United States of America has been directly associated with a digital asset and represents one of the largest paradigm shifts ever for the future of crypto in America
Going deeper:
- Solana has also been infiltrating the traditional public markets lately, fuelled by a rapid flurry of new Solana ETF applications to regulators in the United States of America and publicly traded companies such as SOL Global (CSE: SOL) beginning to accumulate Solana to hold directly as an asset
The fine print:
- It is unclear what the intentions are for Donald Trump’s meme coin and whether or not there will be any official plans publicly announced
