US president-elect Donald Trump’s wife Melania Trump has unveiled her cryptocurrency memecoin, which is rivalling the digital token launched by her husband last week. The token was announced on Sunday and the website for Ms Trump's project,

"The reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun," Sacks said, speaking on Friday at the so-called crypto ball event, intended to drive support for Trump among the crypto community and demonstrate its value to the incoming administration.

Data shows TRUMP amassed over $19 billion in volumes over a 24-hour period, while MELANIA saw $4.5 billion exchange hands.