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In a significant development within the cryptocurrency sector, leading exchanges Coinbase and Binance have announced plans to list the official $TRUMP token, associated with President-elect Donald Trump. This decision follows the token’s remarkable market debut, reflecting its growing prominence in the digital asset landscape.
Coinbase revealed its intention to add the $TRUMP token to its platform, as indicated by a recent announcement on their Coinbase Assets X account. While a specific timeline for the listing has not been provided, the move signifies Coinbase’s commitment to expanding its diverse range of supported cryptocurrencies. Similarly, Binance has confirmed that trading for the $TRUMP token will commence on January 19, 2025, at 08:30 (UTC). The exchange will introduce two new spot trading pairs: TRUMP/USDC and TRUMP/USDT. Users can begin depositing $TRUMP tokens in preparation for trading, with withdrawals becoming available on January 20, 2025, at the same time. Notably, Binance has waived the listing fee for this token, underscoring the significance of this addition to their platform.
The $TRUMP token has already garnered substantial attention, trading on platforms such as Bitget, KuCoin, and Kraken. On-chain data indicates that the token boasts a market capitalization exceeding $7.6 billion, with a trading volume of approximately $15 billion. This rapid ascent highlights the token’s popularity among investors and its potential impact on the broader cryptocurrency market.
However, the token’s structure has faced scrutiny, with reports indicating that 80% of its supply is controlled by CIC Digital LLC, a firm affiliated with the Trump Organization. This concentration has raised questions within the crypto community regarding decentralization and control. Despite these concerns, the forthcoming listings on major exchanges are poised to enhance the token’s accessibility and liquidity, potentially solidifying its position in the digital asset ecosystem.
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