Coinbase and Binance plan to list Donald Trump’s official TRUMP token after stunning debut

The “official” meme coin of the second Donald Trump administration will be listed on major crypto exchanges such as Coinbase and Binance, the companies announced.

Coinbase posted on Sunday that it plans to list the TRUMP token. The announcement was made through the Coinbase Assets X account, which provides information about new assets, but the exchange did not provide a specific schedule for listing.

Binance announced that it plans to start trading TRUMP tokens on the morning of January 19th. According to CoinGecko, the token is already being traded on a number of other centralized exchanges, including Bitget, KuCoin, and Kraken.

According to on-chain data, the token has a market capitalization of just over $7.6 billion and a trading volume of approximately $15 billion.

While many of the largest crypto exchanges have aggressively adopted President Trump's official meme coin, the first Trump-themed token, one of the original political finance (PoliFi) tokens, is no longer available for trading. I had a hard time getting listed on the market.

As CoinDesk reported earlier this year, ByBit and OKX rejected the team's application for token listing, citing concerns that the project was too political. Kraken did not respond to requests for listing or discuss the matter on the record.

The first Trump token, Ethereum-based MAGA, is down 84% from its June high of $17.80, but remains actively traded, according to CoinGecko.

MAGA fell significantly after the launch of the official Trump token, falling from $3.50 to $1.44 over the weekend, reducing its market cap from $158 million to $64 million. The token slowly recovered after an initial drop, likely due to public interest in Trump-themed tokens on the eve of the inauguration.

TRUMP’s tokenomics has been criticized by many online, who point out that 80% of the token supply is controlled by wallets owned by CIC Digital.

CIC Digital LLC is a Trump Organization affiliate that launched Trump Non-Fungible Tokens (NFTs) in 2023. According to OpenSea data, there has been a second wave of interest in these NFTs, with over 2,800 sales in the past 24 hours, valued at over 765 ETH (equivalent to $2.50). million).