Cryptocurrency Craze: Melania Trump Launches Her Own Coin
A Day Before Inauguration
Incoming First Lady Melania Trump has made a bold move by launching her own cryptocurrency, just a day before the inauguration of her husband, incoming US President Donald Trump. The "Official Melania Meme" is now live, and the cryptocurrency, denoted by the symbol $MELANIA, is ready for purchase.
Following in Her Husband’s Footsteps
This move comes after President-elect Trump launched his own cryptocurrency, $Trump, earlier. The value of both coins has risen, but they have also seen volatility in trade. The $MELANIA cryptocurrency is created and tracked on the Solana blockchain, according to the MELANIA Official Meme website.
Not an Investment Opportunity
The website explicitly states that $MELANIA is not intended to be the "subject of an investment opportunity, investment contract, or security of any type." The same disclaimer applies to the $Trump cryptocurrency. This move has raised eyebrows, as President-elect Trump has previously called the crypto trade a "scam."
Market Performance
At the time of writing, cryptocurrency website CoinMarketCap states that $MELANIA is currently worth US$1.88 (RM8.44 billion) billion following her launch, while $Trump is currently worth US$11.43 (RM51.4 billion) billion in the market.
Regulatory Concerns
Under President Joe Biden’s reign, regulators were concerned about money laundering and fraudulent activities after suing exchanges and cracking down on cryptocurrencies. Earlier, he added that he would create a "bitcoin stockpile" and have finance regulators appointed who have a more positive stance towards digital assets.
Bitcoin’s Rise
In light of Trump’s presidential win, Bitcoin reportedly leapt to a record high, currently trading at around US$107,000 (RM480,895), citing crypto trading website Coinbase.
Conclusion
The launch of Melania Trump’s cryptocurrency has sent shockwaves through the market, with many wondering what this move means for the future of digital assets. As the cryptocurrency landscape continues to evolve, it will be interesting to see how these new coins perform and what impact they have on the market.
Frequently Asked Questions
Q: What is the purpose of Melania Trump’s cryptocurrency?
A: The purpose of $MELANIA is not explicitly stated, but it is likely intended to be a symbol of her brand and a way to connect with her fans.
Q: Is $MELANIA a legitimate investment opportunity?
A: According to the MELANIA Official Meme website, $MELANIA is not intended to be an investment opportunity.
Q: How does $MELANIA compare to other cryptocurrencies?
A: At the time of writing, $MELANIA is currently worth US$1.88 (RM8.44 billion) billion, while $Trump is currently worth US$11.43 (RM51.4 billion) billion in the market.