Crypto world was taken by surprise with the recent launch of an official Trump meme coin. This happened sometime on Friday night and have had an a very interesting success in price appreciation so far. In just two days the price went from $5 to $75. The launch was announced from Trump official X account. Many didn't believe it was real initially and people wondered if the Trump X account was hacked. It didn't take long for everyone to realize this was a real Trump's meme coin. It was launched on Solana. Less than an hour ago I saw a notification from Robinhood that Tump official coin has been listed and available for trading. That is probably the fasted listing for Robinhood of any crypto coins.
After initial run Trump coin did see a price drop. It seems there was an account that sold about $30 million of these coins. Interesting thing is this account hadn't bought the coins, and may be an insider account. I am not sure if listing of the coin on Robinhood may have triggered another run upwards. It is currently trading just above $60. After listing the Trump coin Robinhood hasn't been working properly for me. It is lagging, and working very slow. I tried to deposit money three times and all resulted in an error suggesting to try again later.
There is a lot of strangeness in crypto. It never follows reason and logic. For example I never understood why projects print billions of coins, and thought that wouldn't be good for the market cap and growth. However, I have been proven wrong may times. Many coins with billions in supply do just fine. Trump coin I believe will have a billion coins once fully diluted. I don't even understand Trump coin either. Simple explanation is meme coin. Which doesn't explain much. Just for fun. Or is that just an excuse. I don't know. Markets seem to like trading meme coins. My focus have always been the utility, functions, features, use cases, etc. But I did eventually ended up investing in meme coins as well. Why not?
Tomorrow is an inauguration of the president Trump and new administration will be taking over the governing powers in the US. One of of the main things crypto and finance world will be paying close attention to is if Trump will take any action regarding bitcoin as a strategic reserve or stockpile. Bitcoin itself doesn't really care, and I don't think bitcoin relies on any government getting involved or investing in bitcoin. However, pro-bitcoin policies may help speed things up when it comes to the adoptions and development of infrastructure around this new money. Some people do not really like government's investing in bitcoin and prefer bitcoin to remain people's money. That ship may have sailed long ago. Eventually, some governments may have to invest one way or the other in bitcoin to take advantage of its benefits. It is an open network after all and doesn't care who the participants are.
With or without bitcoin strategic reserve policies, bitcoin and crypto will be just fine. What crypto space needs is to be left alone. If regulations are needed, there should be reasonable ones that help with clarifying things and not confusing. It seems like new administration will be taking a pro-crypto positions and enacting pro-crypto policies. This is a good news for bitcoin and crypto, hopefully. We may have a great 2025. But nothing is guaranteed. There are many variable and many unknowns. What is constant is the bitcoin's monetory protocol, and protocols of decentralized networks.
With the launch of Trump's official now it is kinda guaranteed that new SEC will be easy on crypto projects. If the president can launch meme coins, that may pave the way for anybody else to do the same. Are we going to see return of ICOs in some new form? or is the meme coin way is the way? I still would prefer crypto projects that solve problems, launch in a decentralized and fair manner, and establish decentralized networks. Centralized projects are not solutions, but maybe imitating things of the past and may even be scams to gain easy money. That is for everyone to research and decide.
It looks like listing coins for Robinhood is not that difficult. They seem to have figured out how to play the crypto. Now my question for Robinhood is when are going to list Hive? Not listing coins with real use case, decentralized network, engaged community, and stable and secure blockchain only shows the dishonesty on Robinhood's part when they say they want to democratize trading. It also shows the incompetence in understanding the truly innovative blockchain technologies. Or it may just be the way exchange business is done, by focusing where the money is flowing. Robinhood is not the greatest company or a platform for stocks and crypto. But I would still like to see them to succeed. The more options for people, the better.
What if the new norm for presidential campaigns is launching their own coins to fund their campaigns? I can see a lot of potential in this, but probably won't be able to do so because of the laws around political campaigns. Instead maybe, the new norm should be for president elects to launch their coins before the inauguration day.