The greenlight for the crypto industry to return to the days of new tokens and NFT bubbles has been given by the Trump meme coin.

According to Bernstein, the return of President Trump to the White House is expected to usher in a golden, if chaotic, age of crypto in the U.S.

On the weekend, Trump introduced a meme coin, "Official Trump," which reached a market cap of $73 billion in two days before experiencing a 50% decline. This occurred on the same night that Gary Gensler, a critic of crypto startups due to his strict enforcement approach as the head of the Securities and Exchange Commission, resigned from his position.

The day after the Trump coin was unveiled, Melania Trump launched her own meme coin, which received less attention. The extravagant unveiling was met with criticism from many on social media, as they felt it was inappropriate for an industry that has worked hard to distance itself from its past of ICO bubbles, NFT crazes, and celebrity crypto endorsements that resulted in investor losses.

Gautam Chhugani and his team of Bernstein analysts believe that a short-term price may be necessary for achieving long-term innovation in the cryptocurrency industry under a permissive regulatory environment.

"The President of America has his own coin, indicating that a new crypto regulatory era is here to stay. It is recommended to invest in the more valuable parts of the ecosystem."

The U.S regulatory regime's crackdown on crypto builders and enforcement actions on token-related activities have been replaced by a token launch by the President, signaling to U.S builders that they can now build and launch tokens without fear of repercussions.

On Tuesday, the Trump meme coin was trading at approximately $38.41, which was about 50% below its peak.

The Trump coin's website states that it is meant to express support for and engage with the ideals and beliefs represented by the "$TRUMP" symbol and associated artwork, and not to be considered an investment opportunity, investment contract, or security of any kind.

According to the website, the initial number of coins is 200 million, which will increase to 1 billion over three years. Only 10% of these coins are available to the public, with another 10% held in liquidity and 80% reserved for "creators and CIC Digital," an affiliate of The Trump Organization.

The meme coin is the newest fundraising initiative from the Trump team, which has also introduced two NFT collections and a DeFi platform on various blockchains.