This blog explain the trading fees increase of trump coin explore more crypto news with hivelance
At the moment, $Trump is the most popular digital meme worldwide
According to estimates from three blockchain analysis businesses, the entities who created President Donald Trump's cryptocurrency have amassed about $100 million in trading fees in less than two weeks.
Trump's business, CIC Digital, is one of the organizations behind the cryptocurrency. According to $Trump's official website, CIC Digital would receive trading revenue derived from trading activities of the meme coin.
According to Chainalysis, at least half of the biggest coin investors have profited more than million per year from the $Trump coin.
Trump has also made investments in a number of non-fungible tokens, which are digital assets, and two decentralized finance (DeFi) ventures, which are platforms that link buyers and sellers without the use of conventional middlemen like banks.
The value of the $Trump coin skyrocketed, peaking at approximately $14.5 billion immediately after its introduction. Significantly, the trading activity has caused a rift among investors, affecting over fifty major investors.
By using the Meteora decentralized financial exchange, the $Trump coin enables its producers to manufacture coins and receive recurring fees from trading activity. Using a variable charge structure, the exchange applies "surge pricing" when market demand is high.
Transparency and equity issues in the cryptocurrency field have been brought up by the sharp disparity between big and small investors as well as the quick buildup of trading fees. Noting that "$Trump is currently the hottest digital meme on earth".Apart from generating substantial trading fees, Trump's meme coin has brought attention to problems pertaining to investor inequality in the cryptocurrency market.
Key Takeaways
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