TRUMP and MELANIA memecoin futures explode with over $50 billion in volume

Memecoins TRUMP and MELANIA, launched by President-elect Donald Trump and his woman Melania, person seen their popularity detonate successful the 2 abbreviated days of their existence. In summation to the tens of billions of dollars successful market capitalization the coins person captured implicit the weekend, they person sprouted a precise ample and highly progressive futures market.

Futures measurement for TRUMP crossed some centralized and decentralized exchanges crossed good implicit $50 cardinal successful the past 24 hours, with 23% occurring connected Binance.

The TRUMPUSDT perpetual futures launched connected Binance connected Jan. 18, portion MELANIAUSDT saw its archetypal trading time connected Jan. 20.

TRUMPUSDT’s notional unfastened involvement accrued from $145 cardinal connected Jan. 18 to $514 cardinal connected Jan. 19 earlier declining to $414 cardinal by Jan. 20. Open involvement successful TRUMP tokens accrued by 45% implicit the aforesaid period, reaching 7.078 million. The trader sentiment remains overwhelmingly bullish, with 81.1% of positions long.

Chart showing the full and notional unfastened involvement for TRUMPUSDT perpetual futures from Jan. 18 to Jan. 20, 2025 (Source: Binance)

However, the taker merchantability measurement somewhat exceeded the bargain measurement connected Jan. 19, which aligns with the important profit-taking we’ve seen successful the spot marketplace for TRUMP.

Chart showing the taker bargain and merchantability measurement for TRUMPUSDT perpetual futures from Jan. 18 to Jan. 20, 2025 (Source: Binance)

MELANIAUSDT perpetual futures look to grounds an adjacent faster growth, with the notional worth of unfastened involvement expanding by 56% to $32.7 cardinal successful conscionable an hr and a fractional aft launching. The token unfastened involvement accrued 65% to 3.095 million.

Chart showing the full and notional unfastened involvement for MELANIAUSDT perpetual futures connected Jan. 20, 2025 (Source: Binance)

The long/short ratio is adjacent much bullish than TRUMPUSDT, with 90.87% of positions long. However, the smaller size and nascent enactment of the MELANIAUSDT marketplace mean that this dominance mightiness alteration anytime.

Chart showing the long/short ratio for MELANIAUSDT perpetual futures connected Jan. 20, 2025 (Source: Binance)

Both TRUMP and MELANIA coins caught the crypto marketplace by astonishment and are emblematic of the meme coin market, wherever hype and narratives are the main drivers of growth. The immense trading measurement TRUMP has seen implicit the play has importantly impacted Solana-based DEXs and has adjacent concisely rivaled Nasdaq’s regular trading volume. MELANIA besides seems to beryllium riding this wave, with a monolithic spike successful measurement but astatine a smaller scale.

The station TRUMP and MELANIA memecoin futures detonate with implicit $50 cardinal successful volume appeared archetypal connected CryptoSlate.