A new report from Bernstein says that the cryptocurrency market will closely examine the utilization of 80% of the Official Trump (CRYPTO: TRUMP) token supply held by Trump insiders in the coming days.
The TRUMP token, launched unexpectedly on the Solana (CRYPTO: SOL) blockchain, reached a fully diluted market cap of approximately $73 billion. It traded over $30 billion in a day within 48 hours, surpassing Dogecoin (CRYPTO: DOGE) as one of the largest meme coins in the market, before experiencing a drawdown of about 50% from its highs.
The token’s launch was facilitated by CIC Digital, an entity associated with the Trump campaign, which had previously launched branded NFTs and merchandise.
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