The “official” memecoin of Donald Trump’s second administration will be listed on major cryptocurrency exchanges, including Coinbase and Binance, according to announcements from the companies.
Coinbase posted on Sunday that it plans to list the TRUMP token. The announcement came through its Coinbase Assets X account, which provides information on new assets, however, the exchange did not provide a concrete timeline for the listing.
Binance said it plans to open trading for the TRUMP token on the morning of January 19. The token is already traded on many other centralized exchanges, such as Bitget, KuCoin, and Kraken, according to CoinGecko.
On-chain data shows that the token has a market capitalization of just over $7.6 billion and a trading volume of approximately $15 billion.
While many of the largest crypto exchanges have enthusiastically embraced the official Trump memecoin, the first Trump-themed token, one of the original Political Finance (PoliFi) tokens, struggled to list on exchanges.
As CoinDesk reported earlier this year, ByBit and OKX rejected the team’s request to list the token due to concerns that the project was too political. Kraken did not respond to its listing request and declined to discuss the matter on the record.
Trump’s first token, the Ethereum-based MAGA, is down 84% from its June high of $17.80, according to CoinGecko, but continues to be actively traded.
MAGA fell hard after the launch of Trump’s official token, falling from $3.50 to $1.44 over the weekend and its market cap declining from $158 million to $64 million. The token has slowly recovered after the initial drop, likely due to general interest in Trump-themed tokens ahead of the inauguration.
TRUMP’s tokenomics has been criticized by many online, who have pointed out that 80% of the token supply is controlled by wallets owned by CIC Digital.
$TRUMP made memecoins worse than VC-backed coins by a wide margin.
The Donald Trump Revocable Trust owns 100% of CIC Digital, which has been assigned 80% of the supply of the new memecoin launched by @realDonaldTrump.
The same company was also behind Donald Trump’s NFTs. pic.twitter.com/RI2Y2wgy8W
– hitesh.eth (@hmalviya9) January 18, 2025
CIC Digital LLC is the Trump Organization-affiliated company that launched Trump non-fungible tokens (NFTs) in 2023. OpenSea data shows there is a second wave of interest in these NFTs with over 2,800 sales in the last 24 hours worth more than 765 ETH ($2.5). million).
