The data from the Trump coin launch suggests that the majority of its holders are retail investors with less than $100 worth of the coin. Many of these retail buyers are new to cryptocurrency, as indicated by the fact that the majority of wallet holders have just recently opened their wallets. However, it remains uncertain whether these new wallet holders will actively participate in the cryptocurrency ecosystem. While some see the Trump coin launch as a mass onboarding event, there is a distinction between interest in Trump and onchain users who contribute value and capital to the broader cryptocurrency ecosystem. Despite the attention the Trump coin has garnered, it does not seem to have led to mass adoption yet. It may be necessary to focus on piquing people's interest and wait for adoption to come with practical use cases.



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