Tron Founder Justin Sun’s $100 Million Pledge Fuels TRUMP Coin Rally
TRUMP coin (TRUMP) experienced a significant surge, climbing 5% to $9.08, following Tron founder Justin Sun's announcement of a $100 million commitment to purchase the memecoin. The news sparked a doubling in trading volume, reaching $322 million, as market interest in the politically-themed cryptocurrency reignited. Sun also disclosed his existing $12.6 million TRUMP holdings alongside the pledge, while whale wallets continued to accumulate $5.3 million worth of the token despite unrealized losses. This development highlights the growing influence of high-profile endorsements in the cryptocurrency market and underscores the potential for politically-themed digital assets to capture investor attention. The rally comes as the broader crypto market shows signs of renewed optimism, with TRUMP's performance drawing particular interest due to its unique positioning at the intersection of politics and digital assets.
TRUMP Coin Surges After Justin Sun's $100 Million Pledge
TRUMP coin (TRUMP) rallied 5% to $9.08 after TRON founder Justin Sun committed to purchase $100 million of the memecoin. Trading volume doubled to $322 million following the announcement, signaling renewed market interest in the politically-themed cryptocurrency.
Sun revealed his existing $12.6 million TRUMP position alongside the pledge, while whale wallets accumulated $5.3 million despite unrealized losses. The token launched on Tron blockchain on July 7, positioned as a MAGA movement currency through Sun's collaboration with @GetTrumpMemes.
The high-profile endorsement follows Sun's $75 million investment in World Liberty Financial, demonstrating his continued influence in crypto markets. Market participants are watching whether the pledged capital materializes as sustained buying pressure.
Tether Mints $1 Billion USDT Amid Bitcoin's Rally Toward New Highs
Tether has minted 1 billion USDT on the Tron network, adding to the $80 billion already circulating on the blockchain. The move, detected by Whale Alert, comes as Bitcoin flirts with record prices—fueling speculation that fresh capital may soon enter the crypto markets.
Historically, large stablecoin issuances precede significant market movements. While these tokens remain in Tether's treasury, traders anticipate potential exchange inflows that could amplify buying pressure across digital assets.
The tron network continues to dominate stablecoin activity due to its low-cost, high-speed infrastructure. Tether's latest mint aligns with its strategy of preemptive liquidity provisioning, whether for anticipated demand or inventory management.
T-Rex Files for SEC Approval on 2X Leveraged TRON ETF
REX Shares seeks to launch the T-Rex 2X Long TRON Daily Target ETF, a Leveraged product aiming to deliver double the daily returns of TRON's price movements. The fund would utilize swaps, call options, and other TRON-linked instruments rather than holding TRX directly, with a 1.5% management fee attached.
TRON maintains a $27.91 billion market valuation as its price edges up 0.3% to $0.2945. Trading volume surged 30% to $590 million, reflecting growing interest ahead of potential ETF approval. This follows Canary Capital's April filing for a staked TRX ETF targeting both price and staking yield exposure.
The SEC's review process is underway, with a final decision expected by late 2025. Institutional demand for crypto products beyond Bitcoin and ethereum continues rising, with TRON emerging as a beneficiary of this trend.
