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

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The Tremendous Trump (STRUMP) value 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 business.

“I feel there was quite a lot of inequality in that solely sure individuals can get financing,” Trump Jr. stated 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 Challenge Will Not Be A Meme Coin

Trump Jr. additionally stated that the brand new challenge he’s engaged on will not be one other meme coin. As a substitute, he’s engaged on a “bigger kind platform” that’s very totally different from a light-hearted crypto. Almost about timelines, he didn’t give any clear indication of when the platform would launch. He did, nevertheless, say that it could 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 greatest 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 challenge 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 traders have been, nevertheless, nonetheless in a position to stroll away with substantial earnings.

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