Bithumb, South Korea’s second-largest cryptocurrency exchange, has announced that it will begin trading the $TRUMP meme coin on January 21, 2025, at a base price of 53,350 won (approximately $37). The launch follows a significant surge in demand for the meme coin, which is based on U.S. President Donald Trump.
The Solana-based token, $TRUMP Official Trump, will be available for trading on Bithumb starting at 19:00 KST. However, traders can begin depositing and withdrawing the coin one hour before the official launch, at around 18:36 KST. As of now, Bithumb has confirmed 20 deposits of the token into its system.
$TRUMP Coin’s Performance and Market Overview
Despite a strong debut, the $TRUMP meme coin has faced recent volatility. After initially reaching a market cap of over $10 billion just hours after its launch, the coin’s market cap has since dropped to $7.8 billion. The token is currently trading at $39.63, reflecting a more than 30% decrease in its value over the last 24 hours. Despite this dip, $TRUMP still ranks as the 28th largest cryptocurrency by market cap.
The meme coin has experienced fluctuating price movements, with a 24-hour trading volume of over $19 billion. Its price has ranged between $31.58 and $58.55. With a fully diluted valuation nearing $40 billion, $TRUMP remains a significant player in the meme coin sector.
Bithumb Becomes First South Korean Exchange to List $TRUMP
Bithumb’s announcement makes it the first South Korean crypto exchange to list the official Trump meme coin. The token has already been listed on major global exchanges, including Coinbase, Binance, and Robinhood, but Bithumb’s launch represents a significant step for its adoption in South Korea, one of the world’s largest crypto markets.
Trading Restrictions and Launch Protocol
To ensure smooth trading during the initial stages, Bithumb will impose restrictions on buy and sell orders for $TRUMP at the start. Orders will be limited to within a 10% drop or a 100% increase from the base price. These safeguards will be in place for the first five minutes of trading, after which automatic orders will be allowed.
What’s Next for $TRUMP?
As $TRUMP continues to gain traction, the crypto community remains divided on its long-term potential. While the token has generated substantial trading volume and market interest, concerns about its volatility and the future of meme coins in general persist. Some analysts predict that tokens like $TRUMP and Melania may face significant price corrections in the near future, but others see potential for further growth depending on broader market trends and regulatory developments.
For now, South Korean traders can look forward to the launch of $TRUMP on Bithumb, marking a new chapter for the meme coin in one of the most active crypto markets in Asia.