OFFICIAL TRUMP (TRUMP), Donald Trump’s official memecoin (a cryptocurrency inspired by internet memes), made waves with its surprise launch on January 18th.
In its first few days, TRUMP ignited the market, shattered transaction records, and onboarded hundreds of thousands of new users in what has been considered an historic moment for crypto adoption.
Sign up to our weekly MoonPay Minute newsletter
The basics
Featuring the president with a raised fist, the coin’s accompanying artwork bears the words “FIGHT FIGHT FIGHT”—a nod to Trump’s rallying cry after surviving a failed assassination attempt last July.
Interesting fact
In its first 48 hours, TRUMP achieved a staggering $70B in trading volume. The demand was so high that it created some of the largest volumes in MoonPay history.
From memecoin to milestone
While TRUMP’s launch generated mixed reactions, few would deny its significance for the industry:
Onboarding boom
Scores of new crypto users made their first transaction by purchasing TRUMP. MoonPay provided the exclusive payment rails for Moonshot (the platform suggested by the official TRUMP website), enabling nearly 600K new users to onboard in just 72 hours–one of the largest mass adoption events in history.
New users, new wallets
It’s not only the sheer number of people onboarded that matters, but how they were onboarded. Hundreds of thousands of new users acquired TRUMP through decentralized apps rather than centralized exchanges–a watershed moment for the adoption of crypto solutions that are self-custodial (the user has complete control of their assets).
A “new regulatory era”
It’s no coincidence that TRUMP was unveiled just two days before the 47th president was sworn into office. In a note to clients, global asset management firm Bernstein said the event signifies “a massive paradigm shift…where governments see crypto as a technology to reach out to the masses directly.” TRUMP was effectively the opening salvo for what the firm calls “a new regulatory era”.
Subscribe to our newsletter!
Did you like this article? Sign up to our weekly MoonPay Minute newsletter to get similar content delivered directly to your inbox.