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Melania Coin Soars Over 75% Following Binance Announcement

Melania Trump’s memecoin (MELANIA coin) noted a 75% price surge after Binance’s listing announcement, overshadowing Donald Trump’s TRUMP token.

Melania Trump-linked cryptocurrency (MELANIA) surged as high as 76% in value after Binance revealed its support for a USDT-based perpetual contract for the coin. The announcement drew significant attention from investors and traders to the Melania coin.

According to Binance, users can trade the MELANIAUSDT pair with a leverage of up to 25x. This pair was available earlier today following the launch of TRUMPUSDT perpetual contracts on the same platform two days ago.

Binance specified that MELANIAUSDT contracts would be settled in USDT with a tick size of 0.001. Financing rates were capped at +2.00% and -2.00%, with funding fees calculated every four hours.

Within minutes of the announcement, MELANIA experienced a meteoric rise, reaching $13.06 before trading at its current price of $10.43. Other prominent exchanges, including Bitget and ByBit, also released perpetual contracts for MELANIA and TRUMP tokens.

Since its inception, Melania Coin has achieved over $40 billion in trading volume and boasts a fully diluted valuation of nearly $60 billion. The market cap for MELANIA rose to $1.8 billion, reflecting a $300 million increase after the Binance announcement.

Melania Trump’s entry into the cryptocurrency market with her meme coin, MELANIA, caused a significant dip in the valuation of her husband Donald Trump’s TRUMP token. TRUMP coin, which had peaked at a $15 billion valuation, saw a 38% drop shortly after Melania’s token launch.

The Melania Coin Launch Frenzy

In a tweet on January 19, Mrs. Trump promoted MELANIA, sparking a frenzy among crypto enthusiasts. On-chain data revealed that over 45,000 wallets purchased MELANIA tokens within hours of its launch, pushing its market cap to $6.14 billion.

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However, this success came at the expense of the TRUMP coin, which lost $5 billion in market value, dropping its price from $74.6 to $45.9 within 40 minutes, according to CoinMarketCap. The MELANIA token’s official website described the project as fostering engagement and support, explicitly stating that it is not an investment vehicle.

The site claimed the token’s distribution included 35% for the team, 20% for the treasury and community, 15% for the public, and 10% for liquidity. However, on-chain analytics show that nearly 90% of the MELANIA token supply is held in a single wallet, casting doubt on the stated distribution model.

Coinbase executive Conor Grogan remarked that while MELANIA might not be a rug pull, it appears less professionally managed than TRUMP coin. Grong explained that simple research revealed that MELANIA’s creator wallet was funded through Solana’s meme coin platform, Pump.fun.

Additionally, the MELANIA website, launched on January 18, lacks advanced security measures and features sub-optimal front-end coding, according to crypto developer “cygaar.”

MELANIA Coin vs TRUMP Coin

The MELANIA and TRUMP token launches highlight differences in management and market reception. The TRUMP coin’s debut followed a professional structure, supported by organized market makers, while MELANIA appears to have been created by a less coordinated team.

Still, Melania coin’s rapid ascent indicates strong interest among investors. Blockchain data suggests potential centralization issues for MELANIA since most of these tokens reside in a single wallet.

This contrasts with the distribution of the TRUMP coin, which adhered more closely to its stated allocation model. Nevertheless, both coins have sparked considerable market activity, with traders leveraging their high volatility for significant gains.

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The Impact of Binance’s Support

Binance’s listing has been pivotal for MELANIA’s success. The launch of USDT-based perpetual contracts has provided liquidity and trading opportunities, making it an attractive asset for speculative trading.

Binance’s decision to introduce MELANIA contracts shortly after TRUMP reflects strategic positioning to capitalize on the tokens’ popularity. Meanwhile, a top-level executive at crypto investment firm Arca, Jeff Dorman, believes that the TRUMP launch marks the beginning of a new era in crypto adoption.

He explained that token investors and issuers no longer need to worry about regulatory enforcement since the president-elect is both an investor and a crypto asset issuer. Dorman further said Donald Trump’s move is a sign for non-crypto firms to launch their crypto-focused subsidiaries.


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Bradley Nelson

Bradley Nelson is a US based cryptocurrency news writer for Tokenhell, he helps readers stay up to date with the latest trends and news from the blockchain and crypto world. Bradley has been a crypto enthusiast since 2018.

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