- The TRUMP meme coin struggles with exchange listings due to political reasons and market bias.
- Despite hurdles, TRUMP trades on DEXs and some lesser-known centralized exchanges like MEXC and LBank.
The creators of the TRUMP meme coin—named for the former US president—face formidable obstacles in obtaining their token listed on well-known exchanges for digital assets, according to Coindesk.
The political aspect of the coin has kept it off of various exchanges, even though it has no formal relationship to Donald Trump.
TRUMP: Struggles with Mainstream PlatformsÂ
Mostly traded on decentralized exchanges (DEXs), the TRUMP token—which has a GOP candidate and laser eyes logo—is also accessible on smaller centralized exchanges, including MEXC, LBank, BingX, and BitMart. It has been mostly fruitless, nevertheless, to get featured on important sites.
The TRUMP crew applied in mid-May to list the token on Kraken, one of the biggest and oldest U.S. exchanges, but they never heard back.
The marketing director for the TRUMP coin, Steven Steele, bemoaned the lack of communication and accused exchanges of cowardice for ignoring the token because of its political content.
Political Bias and The Market Landscape
Exchanges are out of touch with the memecoin scene right now, according to Steele, as are their own users. Avoiding TRUMP during an election season, when Trump is a well-known presidential crypto contender, he said, is bad for these platforms.
PoliFi, or political finance, is a class of memecoins related to elections in which market swings indicate a candidate’s likelihood of winning and ownership indicates partisanship.
Though Kraken has refused to list TRUMP, smaller exchanges that do list TRUMP also provide its equivalent, TREMP. Kraken lists BODEN as well, TREMP’s Joe Biden-themed equivalent. All of these token prices have fallen before, in line with what ETHNews previously disclosed.
Issues from Other Exchanges
TRUMP is politically sensitive; hence, other exchanges have likewise refrained from listing it. ByBit first established volume targets for listing TRUMP but then decided against it because of possible political consequences.
Similar remarks came from OKX, whose representatives claimed that political meme coins are too delicate to list. ByBit and OKX both said they would not talk more about their listing choices.
The HTX, which mentions TREMP, has not yet received an application from the TRUMP team. The HTX representative said they have a rigorous evaluation procedure but take all projects into consideration.
A token that Trump allegedly supports, DJT, recently increased by about 200% before falling by 30% as its connection to his campaign came into question.
Following a protracted sabbatical, cryptocurrency trader GiganticRebirth challenged Martin Shkreli to a wager over the authenticity of the token.