The crypto token launched by President-elect Donald Trump on Friday has surged in just two days to become one of the world's most valuable forms of digital currency, The New York Times reported on Sunday.
The new token, $Trump, had a total trading value of nearly $13 billion on Sunday, and a total of $29 billion worth of trades had occurred in just two days, a calculation based on the almost $64 value of each of the 200 million tokens issued, according to industry data tracker Coin Gecko.
Although the memecoin has been praised by some as a sign of how digital currencies are now going mainstream in the United States, others, including even some longtime crypto investors, said there is also the possibility that the new digital coin might emerge as a landmark moment in the speculative history of crypto trading and the potential dangers it has for the financial system, according to The New York Times.
Brian Freeman ✉
Brian Freeman, a Newsmax writer based in Israel, has more than three decades writing and editing about culture and politics for newspapers, online and television.
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