Coinbase announced via its Coinbase Assets X account that it plans to list the TRUMP token, though no specific timeline was provided. Binance has confirmed that trading for the token will open on the morning of Jan. 19. Other exchanges, such as Bitget, KuCoin, and Kraken, have already embraced the token, according to data from CoinGecko.

With a market cap exceeding $7.6 billion and a daily trading volume of approximately $15 billion, the TRUMP token has rapidly gained traction in the crypto market. These figures underscore its widespread popularity ahead of the upcoming inauguration festivities.

A Tale of Two Tokens: TRUMP vs. MAGA

This isn’t the first Trump-themed token to hit the market. The Ethereum-based MAGA token, one of the earliest Political Finance (PoliFi) tokens, initially struggled to gain acceptance from major exchanges. Platforms such as ByBit and OKX rejected its listing applications, citing concerns about its political nature, while Kraken declined to comment.

The launch of the official TRUMP token has significantly impacted MAGA’s performance. Over the weekend, MAGA’s price dropped from $3.50 to $1.44, with its market cap plummeting from $158 million to $64 million. However, the token has seen a modest recovery, likely fueled by renewed interest in Trump-themed tokens leading up to the inauguration.

A Second Wave for Trump NFTs

In addition to the TRUMP token, CIC Digital is also the company behind Donald Trump’s NFT collection, which launched in 2023. The token’s success appears to have sparked renewed interest in these NFTs, with OpenSea recording over 2,800 sales in the past 24 hours, totaling more than 765 ETH ($2.5 million).

The Future of TRUMP Token

The TRUMP token’s launch represents a new chapter in the memecoin market, blending politics with digital assets. While its centralized tokenomics and close ties to the Trump Organization have raised eyebrows, its rapid adoption on major exchanges signals a growing appetite for politically themed tokens.

As the second Trump administration begins, the TRUMP token could play a symbolic role in furthering political engagement within the crypto space. Whether it will stand the test of time or follow the trajectory of its predecessor, MAGA, remains to be seen. For now, it stands as a testament to the increasing intersection of politics and crypto.