Indeed, the traders most affected by the erosion of the token’s value remain first-time investors. “These are largely new retail buyers,” said the blockchain analytics firm

Days before his inauguration, President Donald Trump unveiled his own cryptocurrency called $TRUMP. The move raised eyebrows among experts in the field as it may entail a conflict of interest or undermine the adoption of the emerging technology.

The launch of $TRUMP and $MELANIA crypto coins has disappointed some in the crypto industry, who fear they amplify the sector’s sillier and scammier side.