- $TRUMP token reaches $11B market cap with $52B trading volume, gaining major exchange support.
- Ex-Coinbase CTO Srinivasan suggests Trump airdrop the tokens and gain support from voters.
- Major exchanges like Robinhood list the TRUMP token, boosting its market potential.
Former Coinbase CTO Balaji Srinivasan tweeted that President-elect Donald Trump could airdrop $TRUMP tokens to each individual in the United States and gain confidence. Srinivasan’s proposal arises at a time when the $TRUMP token is quickly gaining momentum across the cryptocurrency market, provoking debates over its effect on politics and finance.
The TRUMP token, a memecoin tied to Trump’s brand, will soon be listed on prominent exchanges like Robinhood, Coinbase, Binance, Kraken, and KuCoin. This widespread support signals the token’s growing popularity and market influence. According to CoinMarketCap data, the token has a market capitalization of over $11.8 billion, while the trading volume is estimated to be around $52 billion.
Srinivasan highlighted that Trump’s net worth has shifted dramatically toward cryptocurrency. This phenomenon mirrors the experiences of early Bitcoin and Ethereum investors. Srinivasan speculated that this shift could incentivize Trump to aggressively support pro-crypto policies if elected. He added that airdropping TRUMP tokens to citizens could align Trump’s interests with those of his supporters, creating a new form of social contract.
The idea of TRUMP token airdrop raises questions about its legality and feasibility. Srinivasan suggested Trump could distribute $100 worth of TRUMP tokens to each of his 77 million voters at a cost of $7.7 billion. Even with a $500-per-person airdrop, Trump would retain a significant portion of his TRUMP token holdings. Srinivasan emphasized that this approach could generate loyalty among his base and expand his email list.
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Meanwhile, the token’s adoption by major exchanges further legitimizes its presence in the crypto ecosystem. Robinhood has confirmed its plans to list the TRUMP token alongside other exchanges like Bitget and Kraken. This development follows announcements from Coinbase and Binance, signaling strong institutional interest.
The TRUMP token’s rapid rise reflects a broader trend of memecoins capturing market attention. However, Srinivasan said its longevity primarily hinges on the value and usefulness of the innovation. He also noted that due to Trump ‘s individuality and his impact, the TRUMP token has the prospect of being different from other celebrity-fiat backed cryptocurrencies. As the TRUMP token gains momentum, its potential impact on U.S. politics and cryptocurrency regulation remains a topic of discussion.
