Love him. Hate him. He certainly does live up to the memes and this time, quite literally. Trump launched his own cryptocurrency over the weekend, dubbed $TRUMP and it has already generated roughly $12 billion in market cap (the high was $14 billion overnight). It is sparking a buying frenzy in the crypto space and Bitcoin is now catching on as well.
The “benchmark” cryptocurrency is now trading up to near $109,000 in a bid to fresh record highs. Buyers are definitely being rewarded for holding the line around the $90,000 to $92,000 mark since December.
Price action is flirting with the break of the December high of $108,388 now. Mooning. 🚀
This article was written by Justin Low at www.forexlive.com.
