Fun

Trump-themed token RTR dumps 95% after son denies link to token

News Feed - 2024-08-09 03:08:16

Ciaran Lyons2 hours agoTrump-themed token RTR dumps 95% after son denies link to tokenThe Donald Trump-themed memecoin “RTR” plunged 95% after Eric Trump warned they have nothing to do with it.951 Total viewsListen to article 0:00Markets NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onA Donald Trump-themed cryptocurrency called Restore the Republic (RTR) fell a whopping 95% from its peak after it was revealed it has no connection with the Trump family. 


The price of RTR initially rocketed to $0.1490 after a now-deleted post from Students for Trump chair Ryan Fournier suggested it was a new official Trump token, but a firm denial from Eric Trump sent the token tumbling back soon after.RTR briefly tapped an all-time high of $0.1490 before plummeting. Source: Dex Screener


At the time of publication, RTR is trading at $0.0091, according to data on Dex Screener.


Before Trump’s denial, many in the crypto space wondered whether Trump’s son was launching a memecoin. He had published a cryptic post on X suggesting he was working on something related to DeFi.Source: Donald Trump Jr.


“If you care about your dad’s chances to win this election, please for the love of all that is good don’t launch a token,” popular crypto trader Kaiko stated.


“This is a massive mistake,” crypto trader Ben Werkman commented.


“Please don’t launch a token, nothing good will come of this,” crypto commentator SlumDOGE millionaire added.


Since then, Trump Jr. has revealed he is launching a new decentralized finance platform in an attempt to address inequality in banking access.


He has shared little else about the upcoming DeFi platform, only that it would “take on a lot of the banking world” and that it will likely be a long time “before we can do anything.”Trump memecoins’ past volatility


It is not the first time that a Trump-themed memecoin has had its price plummet sharply in only a matter of hours.


Amid the wider crypto downturn on Aug. 5, referred to as “Crypto Black Monday,” TrumpCoin (DJT) fell from $0.00555 per token to $0.000229, representing a 95% drop in the token’s price.


Related:Memecoins have an important role to play in crypto


Meanwhile, on July 13, the price of the largest Donald Trump memecoin, MAGA (TRUMP), surged more than 30% following an assassination attempt on the former US president while he was speaking on stage at a rally in Butler, Pennsylvania.


The Ethereum-based MAGA memecoin surged from $6.31 to $10.36 right after the assassination attempt, causing its market capitalization to leap from $293 million to $469 million in under 45 minutes.


Magazine:AI bubble not over yet despite entering ‘trough of disillusionment’: AI Eye


This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Cryptocurrencies# Altcoin# Markets# United States# Donald Trump# Social Media# MemecoinAdd reaction

News Feed

Spain’s Second Largest Bank BBVA Launches Bitcoin Trading and Custody in Switzerland
Spain"s Second Largest Bank BBVA Launches Bitcoin Trading and Custody in Switzerland BBVA, the second-largest bank in Spain, has announced the launch of its bitc
Brazil-Based Neobank Nubank to Launch Own Cryptocurrency as Part of Loyalty Program
Brazil-Based Neobank Nubank to Launch Own Cryptocurrency as Part of Loyalty Program Nubank, one of the largest digital banks in the world, has announced it will issue its own crypt
Bakkt Acquires Turnkey Platform Apex Crypto to Bolster Digital Asset Footprint
Bakkt Acquires Turnkey Platform Apex Crypto to Bolster Digital Asset Footprint Digital asset manager Bakkt Holdings, Inc., announced on Thursday that the company has acquired the f
Helen Partz10 hours agoCrypto amplified financial risks in emerging markets: BIS papersThe central banks of the United States, Canada, Mexico and Brazil have pointed out the risks of crypto but warned against excessively
Bitcoin, Ethereum Technical Analysis: ETH Remains Above $3,000 as Markets Consolidate
Bitcoin, Ethereum Technical Analysis: ETH Remains Above $3,000 as Markets Consolidate Following yesterday’s rally in crypto, prices consolidated on Wednesday, as markets wer
Skybridge Capital Founder Predicts $100K Bitcoin Price This Year Due to ‘Heavy Demand’ and Diminishing Supply
Skybridge Capital Founder Predicts $100K Bitcoin Price This Year Due to "Heavy Demand" and Diminishing Supply The founder of asset management firm Skybridge Capi
BitMEX pleads guilty to Bank Secrecy Act violation
Turner Wright2 hours agoBitMEX pleads guilty to Bank Secrecy Act violationBitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed pleaded guilty to similar criminal charges in 2022 and received probation.1303 Tot
Sequoia Capital Designates $500-600 Million to Crypto Fund Focused on Liquid Digital Assets
Sequoia Capital Designates $500-600 Million to Crypto Fund Focused on Liquid Digital Assets On February 17, the venture capital firm Sequoia Capital announced the launch of a new $
Sam Bankman-Fried asks to stay in Brooklyn prison for appeal
Turner Wright8 hours agoSam Bankman-Fried asks to stay in Brooklyn prison for appealJudge Lewis Kaplan said at a March 28 sentencing hearing that the former FTX CEO would serve his time at a medium- or low-security priso
Report: Israel Defense Ministry Seized Crypto Wallets Holding Hamas-Destined Funds
Report: Israel Defense Ministry Seized Crypto Wallets Holding Hamas-Destined Funds Israel’s Defense Ministry seized cryptocurrency wallets holding funds that were destined f
Rocket Fuel For Shiba Inu Price: Kusama Says 99% SHIB Supply Burn Possible
Este artículo también está disponible en español. Shiba Inu lead developer Shytoshi Kusama has addressed inquiries regarding the ambitious goal to burn 99% of the circula
Savannah Fortis9 hours agoUK AI Safety Summit begins with global leaders in attendance, remarks from China and MuskThe U.K. AI Safety Summit concluded its first day with a common declaration, the U.S. announcing an AI sa