The Solana-based Official Trump meme coin (TRUMP) is up nearly 9% in the last 24 hours and is now live for trading on American cryptocurrency exchange, Coinbase.
The token, which has reclaimed an $8.5 billion market cap at a price of $42, was added to the Coinbase listings roadmap on January 18 and now is live for trading for users of the exchange via Coinbase.com and its mobile apps.
The exchange announced its intention to list the token for trading yesterday, but added hours after its announcement that it would only go live for trading when “sufficient liquidity conditions” were met.
The ascension of Trump’s meme coin has helped wreak havoc on Solana infrastructure since its launch, leading to degraded performance for platforms like Jupiter and Phantom. Coinbase too has had issues with Solana-based assets, including send and receive delays, with a representative pointing Decrypt to its status page as a way to monitor updates—which indicates the exchange is still investigating the issue.
TRUMP’s rise corresponds to a broader market bounce, which has seen majors like Bitcoin and Solana both rise approximately 4% to $106,800 and $256, respectively. Leading meme coin Dogecoin has also risen, jumping more than 7% to $0.383. Both TRUMP and DOGE could be the subject of meme coin ETFs following filings from REX Shares early Tuesday.
Trump’s official Solana token launched late Friday and surged to a peak price above $73 before retracing over the weekend and into Monday. The coin briefly rose above $43 on Tuesday afternoon, marking its highest price in more than a day.
Edited by Andrew Hayward
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