Trump Token: What the Upcoming Unlock Means for Investors
The crypto project Trump Token released its first tokens in August, but without granting investors direct access. That is about to change as the first major unlock approaches.
Will Trump Token (TRUMP) kick off in the crypto market and become a bestseller in its niche? The token was initially launched in August, with a starting price of $0.00099. However, investors were only able to participate in the sale directly without being allowed to freely dispose of their Trump Token. Meanwhile, TRUMP’s price has more than quadrupled to around $0.004. But until now, actual trading volume has been largely absent. This is set to change on November 3, with the first scheduled unlock of Trump Token.
The project runs under Trump World Coin (TWC) and has linked the controversial figure Donald Trump to headlines. TWC claims to aim for a decentralized network that uses TRUMP for transactions. While TRUMP’s market capitalization is around $3.5 million, the upcoming unlock is expected to release a considerable number of the approximately 400 billion tokens. By then, about 14 billion TRUMP are supposed to be unlocked.
The idea of associating Trump Token with Donald Trump isn’t new. Back in 2018, a project called Potcoin sponsored Trump’s allegedly historic trip to North Korea. However, Potcoin later vanished into obscurity. Trump World Coin now appears alone with its TRUMP in this niche, as there’s no official affiliation with the former US president.
Experts observe that considerable risks lurk for investors in the first significant unlock of TRUMP. The roadmap points to several more unlocks scheduled until March 2024. These threaten to flood the market with even more TRUMP and exert pressure on the price.
The project hasn’t yet announced any high-profile partnerships or use cases that would differentiate Trump Token from other altcoins vying for attention in a hypercompetitive market. Nevertheless, a campaign seems underway to gain momentum with catchy headlines and perceived associations with Donald Trump. Critics argue that the project is riding on Trump’s name without offering genuine utility or innovation.
Bottom line: The upcoming unlock on November 3 has potential implications for TRUMP’s price. As the market awaits with anticipation, some expect TRUMP might trade downward due to increased supply, while optimists see a potential for speculative surges. Investors should exercise caution and be prepared for high volatility.
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