STRUMP Surges 15% as Donald Trump Jr. Announces New Crypto Platform to “Take on” Banks
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SUPER TRUMP (STRUMP) PRICE It has increased rapidly It has risen more than 15% in the past 24 hours to trade at $0.006652 as of 2:30 a.m. ET after Donald Trump Jr. said he is developing a new decentralized finance protocol that will “challenge” the banking industry.
“I think there was a lot of inequity in that only certain people were able to get the money,” Trump Jr. said in an Aug. 8 interview. Q&A Session On subscription-based platform Locals, he added that the concept of decentralized finance is “very appealing” to him.
Donald Trump Jr. Says New Project Won’t Be a Meme Coin
Trump Jr. also said the new project he’s working on isn’t just another one. Same cornerInstead, he’s working on a “larger type of platform” that’s very different from a light cryptocurrency. As for the timeline, he didn’t give any clear indications of when the platform might launch. But he did say, “It’s going to be a long time before we can do anything.”
Despite the Republican candidate’s son confirming that he is not creating a new meme coin, several tokens associated with the former president have surged over the past 24 hours. Pepe (TRUMP), FreeTrump ($TRUMP), and Dark MAGA (DMAGA) were among the best performing political meme coins over the past 24 hours.
Restore The Public (RTR) down 95%
Not all Trump-themed tokens had a successful trading session yesterday. Solana A blockchain called Restore the Republic (RTR) was rumored to be the former president’s official token, and its market cap soared to $155 million.
Friends: Beware of fake tokens! The only official Trump project has not been announced! Hear it first here: https://t.co/33wfKyaMVB
— Eric Trump (@EricTrump) August 8, 2024
The token’s value plummeted 95% on August 8 after Eric Trump warned that his father did not yet have the official token. However, a small number of early investors were still able to walk away with significant profits.
On-chain data Look on Chain Five wallets owned by early investors or insiders reportedly made $4 million in profits in just six hours as a result of the token’s meteoric rise and subsequent crash.
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