Trump's meme coin $TRUMP costs almost $70 billion
Donald Trump, President-elect of the United States (photo: Getty Images)
President-elect Donald Trump has launched his first cryptocurrency, a meme coin called $TRUMP. It is now among the twenty largest cryptocurrencies, CNN reports.
According to the media outlet, as of today, the coin cost a little more than $68 and was valued at more than $68 billion, making it the 19th largest cryptocurrency.
This is the first cryptocurrency approved by the future president.
The meme coin's website says it is "the only official Trump meme." Meme coins, a class of highly volatile cryptocurrencies, often derive their brand from internet trends and cultural phenomena.
"Now you can have your piece of history. This Trump meme honors a leader who doesn't back down despite the odds," the site says.
According to CoinMarketCap, its market value, based on 200 million coins in circulation, is $13 billion.
The meme coin's website reports that 1 billion Trump coins will be issued over the next three years.
Yesterday, January 18, US President-elect Donald Trump announced his own cryptocurrency, $TRUMP.
It immediately caused a stir among crypto enthusiasts. You can learn more about it in the RBC-Ukraine article.
