Arthur Hayes of BitMEX has once again caused a stir in the cryptocurrency landscape, mainly with his statements amid the launch of Donald Trump’s new meme coin. Notably, the BitMEX co-founder highlighted the launch of the TRUMP token, calling it the start of a “political memecoin market.” As a result, market participants are now closely watching the newly launched token as its remarkable growth quickly post-launch has helped it secure the 4th place in terms of global meme coin market capitalization.
BitMEX’s Arthur Hayes Sparks Buzz With “Memecoin Political Marketplace” Comment
In a Message On January 18, Arthur Hayes reiterated the 47th US president’s TRUMP token announcement, saying: “This is the launch of the political memecoin market. » Furthermore, the American co-founder adds: “any politician who is not afraid to know what people think in real time will launch their own memecoin”.
These statements highlight the beginning of a new era and a new segment of cryptocurrencies, the “political memecoin”. However, Hayes says “these tokenomics are fugazi,” implying that these coins can be extremely unreliable. But, according to the BitMEX co-founder, the chances of these coins reaching a $100 billion market cap prevail amid current market trends. Overall, these statements amid the launch of a new meme token on Solana have gained popularity in the crypto industry.
TRUMP token: talk of crypto town
In a fascinating turn of events, President-elect Donald Trump recently announced TRUMP meme coin launcha token on Solana. Soon after its introduction into the crypto space, the token claimed the 4th position, just after Pepe Coin in terms of market capitalization.
Notably, CoinGape reported that the newly launched token even helped traders make millions within a day of its launch. Furthermore, accumulations for the same commodity have seen a steady rise, indicating that further price increases for the token could be imminent. Additionally, in light of Donald Trump’s presidential inauguration, which is expected to take place on January 20, market sentiments regarding the future action of the new cryptocurrency Solana remain very optimistic.
It is also worth mentioning that Binance had to suspend GROUND withdrawals amid the launch of the new token on the network, which further sparked market discussions about the coin’s growing popularity. At the time of reporting, TRUMP’s official cryptocurrency was trading at $22.15, up a staggering 241% over the day. The cryptocurrency’s 24-hour low and high were $6.24 and $24.50, respectively. In conclusion, Arthur Hayes’ claims about a “political memecoin market” may be true, as shown by the new Republican-backed coin’s recent growing dominance across the industry.
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Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
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