Eric Trump announced the acquisition of a significant stake in the $TRUMP meme coin by World Liberty Financial (WLFI), furthering the Trump family's crypto ambitions.
$TRUMP token's market cap is nearing $2 billion with daily trading volume around $796 million, experiencing a 5% increase.
About 80% of the $TRUMP token supply is held by Trump-affiliated entities Fight Fight Fight and CIC Digital, indicating a high level of control within Trump-related circles.
WLFI's investment in $TRUMP boosts its presence in the DeFi space, impacting Magic Eden negatively, while $TRUMP gains momentum with a rise in value supported by WLFI's endorsement.