STRUMP Surges 15% As Donald Trump Jr. Announces New Crypto Platform To “Take On” Banks

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The Tremendous Trump (STRUMP) worth surged over 15% within the final 24 hours to commerce at $0.006652 as of two:30 a.m. EST as Donald Trump Jr. reveals he’s engaged on a brand new decentralized finance protocol that can “tackle” the banking trade.

“I feel there was a variety of inequality in that solely sure individuals can get financing,” Trump Jr. mentioned in an Aug. 8 Q&A session on the subscription-based platform Locals. He added that the notion of decentralized finance is “very interesting” to him.

Donald Trump Jr. Says New Mission Will Not Be A Meme Coin

Trump Jr. additionally mentioned that the brand new undertaking he’s engaged on just isn’t one other meme coin. As an alternative, he’s engaged on a “bigger kind platform” that’s very completely different from a light-hearted crypto. On the subject of timelines, he didn’t give any clear indication of when the platform would launch. He did, nevertheless, say that it might be a “very long time earlier than we will do something.”

Regardless of the Republican nominee’s son confirming that he’s not engaged on a brand new meme coin, a number of tokens linked to the previous President surged within the final 24 hours. Pepe (TRUMP), FreeTrump ($TRUMP) and Darkish MAGA (DMAGA) have been among the many finest 24-hour performers within the political meme coin sector.

Restore The Public (RTR) Dives 95%

Not all Trump-themed tokens had a profitable buying and selling session yesterday. A newly-launched token on the Solana blockchain by the identify of Restore the Republic (RTR), rumored to be the official token of the previous President, noticed its market cap balloon to $155 million.

Mates: Beware of faux tokens! The one official Trump undertaking has NOT been introduced! You’ll hear it right here first. https://t.co/33wfKyaMVB

— Eric Trump (@EricTrump) August 8, 2024

The token’s worth then plummeted 95% on Aug. 8 after Eric Trump warned that his father doesn’t but have an official token. A handful of early buyers have been, nevertheless, nonetheless capable of stroll away with substantial income.

On-chain knowledge from Lookonchain revealed that 5 wallets belonging to early buyers, or insiders, made $4 million in income in simply 6 hours with the token’s meteoric rise and subsequent plunge.