Trump-Themed Tokens Gain Popularity: MEXC Lists FIGHT and EAR
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Abstract: Trading Trump-themed tokens on MEXC is not only safer but also comes with lower trading fees. There are zero fees for maker orders, and the trading depth is significantly better than that of DEX platforms.
Recently, U.S. presidential candidate Donald Trump was attacked during an offline campaign rally in Pennsylvania. Due to his previous pro-crypto statements, the market experienced significant volatility, with cryptocurrencies such as Bitcoin and Ethereum surging by more than 5%. Additionally, the popularity of Trump-themed tokens has resurged.
MEXC was quick to list several tokens, including FIGHT, EAR, and FIGHTETH, all of which saw significant gains. Notably, in February of this year, MEXC was one of the first platforms to list MAGA (TRUMP), where early participants could achieve returns of over 10,000%.
1. Trade Trump-Themed Tokens on MEXC
Trump's injury has once again boosted the popularity of related meme coins, with two standing out in particular: FIGHT and EAR.
FIGHT gained popularity mainly because, after being injured, Trump raised his arm and repeatedly shouted the slogan "Fight." EAR became notable because Trump's right ear was injured, but EAR STAYS ON, making EAR a symbol of good luck.
In the past few days, hundreds of meme projects named after the two keywords mentioned above have emerged, some with life cycles lasting only a few hours, and numerous rug pull incidents have occurred. Therefore, even though crypto users have shown great interest in these meme projects, it is difficult to distinguish between genuine and fraudulent ones and trade them promptly.
Recognizing the urgent demand from users, MEXC was the first to launch several Trump-themed projects with the highest liquidity and FDV. According to MEXC market data, the price of FIGHT surged by over 100% after its launch; FIGHTETH, within just one day of listing, saw a peak increase of over 1,000%, with daily trading volume reaching nearly $2 million.
(FIGHTETH Price Trend on MEXC）
On social media platforms, crypto traders have also expressed approval of MEXC's listing of Trump-themed tokens:
- Trader Seikh Shadi stated: "MEXC coming through with the heat again. $FIGHT is a straight-up gem, and they're listing this trendy AF coin."
- Trader Satoshi stated: "$FIGHT on. Dex fees are very high. For gems like this, @MEXC Official is ideal because of their low trading fees."
Similar comments abound, and they are not without basis. Compared to on-chain trading, trading Trump-themed tokens on MEXC is not only safer but also features lower trading fees. There are zero fees for maker orders, and the trading depth is significantly better than that of DEX platforms.
More importantly, MEXC lists tokens quickly, allowing users to capture higher returns without spending extra effort searching for information. Take another previously popular Trump-themed token, MAGA, for example. MEXC was also the first to list it, and compared to its initial price, it surged over 100 times, currently maintaining a 40-fold increase, as shown below:
Other Trump-themed tokens have also been successively listed on MEXC, and crypto investors can search for them on the website themselves.
2. To Secure Votes from Crypto Traders, Both Parties Vie to Signal Friendliness
This year marks the quadrennial election year in the United States. Cryptocurrency investors, as an influential voting bloc, are impacting the upcoming election competition. Cryptocurrencies have once again become a focal point of debate in the election.
In a speech in May of this year, former U.S. President Donald Trump declared his willingness to accept campaign donations in the form of cryptocurrency and criticized his opponent Biden for his inadequate understanding of cryptocurrencies.
In a bid to prevent Trump from winning over the crypto community, Biden has significantly shifted his stance on cryptocurrency. A strong indicator of this change came in May of this year when the U.S. Securities and Exchange Commission (SEC) approved the 19b-4 filing for an Ethereum spot ETF on May 23. According to the latest news from The Wall Street Journal, the SEC plans to formally announce the effectiveness of the Ethereum ETF registration statement next Monday and allow trading to commence.
Haseeb Qureshi, a partner at Dragonfly, pointed out that the SEC's change in attitude may reflect the Biden administration's softer stance on cryptocurrency policy, aimed at avoiding losing votes in the election over seemingly minor crypto regulatory issues.
Additionally, the highly anticipated FIT21 Bill was passed by the United States House of Representatives on May 22, marking the first comprehensive and clear cryptocurrency legislation in the country. If signed into law, the bill will have profound implications for the entire crypto industry. Earlier, Biden announced that if the FIT21 Bill is passed, he will not veto it.
All these signs have proven that cryptocurrency has become a significant issue in this year's U.S. election. Regardless of the eventual outcome, regulatory agencies in the United States are expected to adopt a more favorable stance and policies towards cryptocurrencies in the future.
So, what impact does the upcoming election have on Bitcoin's trend? Matrix on Target previously showcased a BTC simulation, analyzing Bitcoin's average performance during the U.S. presidential elections in 2012, 2016, and 2020. In July of those three election years, Bitcoin's average return rate approached 36%. As of this year, Bitcoin has risen by 52%, temporarily surpassing the simulated performance during election years.
For cryptocurrency investors, there are three key time points in the upcoming election that need close attention:
- National Conventions of Both Parties: The Republican National Convention will be held from July 15 to 18, 2024, and the Democratic National Convention will take place from August 19 to 22, 2024. Each party's presidential and vice presidential candidates will be nominated at these conventions.
- Second Round of Presidential Debates: September 10, 2024
- Presidential Election Day: November 5, 2024
3. Trump is More Favored in the Crypto Community
As a presidential candidate, Trump holds significant influence in the crypto community and is highly favored by cryptocurrency investors.
During his previous term, Trump established a strong connection with the crypto community. For example, in December 2017, Bitcoin futures ETFs were officially approved and its trading commenced, marking Bitcoin's debut in mainstream financial markets with CME and CBOE, reaching nearly $20,000. In December 2018, Trump appointed Bitcoin supporter Mick Mulvaney as White House Chief of Staff. On January 20, 2021, Trump pardoned Ripple board member Ken Kurson.
Since leaving office, the Trump family has been active in the crypto sphere. In 2021, Melania Trump launched the Melania Trump NFT platform, followed by the POTUS (President of the United States of America) NFT series depicting moments from Trump's presidency a few months later. They have subsequently issued multiple themed NFTs.
Under Melania's influence, Trump announced the limited edition "Trump Digital Trading Cards" NFT on truth social in December 2022. On January 13, 2023, he released "Win Trump Prizes" NFTs on Polygon. On April 19, 2023, Trump announced the launch of the second series of his personal NFT collection, "Trump Digital Trading Cards." On December 13, 2023, Trump introduced a new NFT series called "Mugshot Edition," where purchasers of 47 Trump cards could dine with him at Mar-a-Lago and receive a suit he wore when arrested in August. Documents show Trump earned $2.8 million through NFT sales.
In May 2024, Trump announced the acceptance of cryptocurrency donations for his U.S. presidential campaign, stating that Biden does not even know what cryptocurrency is. "If you’re in favor of Crypto, you better vote for Trump." He pledged to end U.S. hostility towards cryptocurrency and embrace it. On May 22, Trump's campaign team officially announced they would accept cryptocurrency donations, allowing supporters to use "any cryptocurrency accepted through the Coinbase Commerce product" for contributions. Additionally, he promised to pardon Silk Road founder Ross Ulbricht if elected president.
In no time, Trump became viewed as a "crypto-friendly figure" by many, sparking the recent frenzy surrounding Trump-themed cryptocurrencies.
Disclaimer: This information does not provide advice on investment, taxation, legal, financial, accounting, or any other related services, nor does it constitute advice to purchase, sell, or hold any assets. MEXC Learn provides information for reference purposes only and does not constitute investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. The platform is not responsible for users' investment decisions.