The TRUMP token, a memecoin that gained significant attention in the crypto market, failed to attract substantial new capital. Despite reaching a market cap of over $10 billion on its first day, it has since dropped to around $5.3 billion. In comparison, the total market cap of all cryptocurrencies has remained around $3.5 trillion. This suggests that while TRUMP received a lot of attention and onboarded many users, the actual liquidity and capital from new investors were relatively small. Research also revealed that about 50% of TRUMP token holders were likely first-time buyers of Solana-based tokens.



Other News from Today