Outside Source
A survey reveals Trump memecoins drew first-time investors to crypto, spurring adoption but raising concerns over political tokens’ long-term effects on the market.
News
A recent survey revealed that many buyers of the Official Trump (TRUMP) and Official Melania (MELANIA) memecoins were first-time cryptocurrency investors, indicating that the tokens played a role in driving broader crypto adoption in the US.
President Donald Trump launched his own memecoin on Jan. 18, attracting significant interest. The token peaked at $72.62, with a market capitalization of around $14.5 billion. Following Trump’s memecoin launch, First Lady Melania Trump also released her MELANIA token to the market.
The survey, conducted on Jan. 20 by NFT Evening, asked 1,092 Americans to identify trends and sentiments surrounding the memecoins launched by the Trump family. The survey found that 14%, or one in seven participants, had purchased the TRUMP memecoin.
Among those buyers, 42% were purchasing cryptocurrency for the first time, suggesting that the tokens are serving as an entry point for new investors in the crypto space.
This article first appeared at Cointelegraph.com News
