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The price of Super Trump (STRUMP) jumped more than 15% in the past 24 hours to trade at $0.006652 as of 2:30 a.m. EST as Donald Trump Jr. reveals he is working on a new decentralized finance protocol that will “take on” the banking industry.
“I think there has been a lot of inequality in that only certain people can get funding,” Trump Jr. said in an Aug. 8 statement. Question and Answer Session on the Locals subscription platform. He added that the notion of decentralized finance is “very attractive” to him.
Donald Trump Jr. Says His New Project Won’t Be a Coin
Trump Jr. also said that the new project he is working on is not another coin meme. Instead, he is working on a “broader type platform,” very different from a lightweight cryptocurrency. As for timelines, he did not give a clear indication of when the platform would launch. He did, however, say that it would be “a long time before we can do anything.”
Although the Republican candidate’s son confirmed that he is not working on a new cryptocurrency, several tokens linked to the former president have surged in the past 24 hours. Pepe (TRUMP), FreeTrump ($TRUMP), and Dark MAGA (DMAGA) were among the top 24-hour performers in the political cryptocurrency space.
Restore The Public (RTR) plunges to 95%
Not all Trump-themed tokens had a successful trading session yesterday. One newly launched token on the Solana The blockchain called Restore the Republic (RTR), which is said to be the official token of the former president, has seen its market capitalization climb to $155 million.
Friends: Beware of Fake Tokens! Trump’s Only Official Project Has NOT Been Announced! You’ll Hear It Here First.
— Eric Trump (@EricTrump) August 8, 2024
The token’s value then plummeted 95% on August 8, after Eric Trump warned that his father didn’t have an official token yet. A handful of early investors were still able to walk away with substantial profits.
Data in chain of Watch on the channel revealed that 5 wallets belonging to early investors, or insiders, made $4 million in profits in just 6 hours with the token’s meteoric rise and subsequent fall.
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