By Elizabeth Howcroft, Rae Wee and Michelle Conlin PARIS/SINGAPORE (Reuters) -U.S. President Donald Trump's new crypto token soared to more than $10 billion in market value on Monday, while enthusiasm over his crypto-friendly administration helped briefly lift bitcoin to a new record.

The launch of the $MELANIA token comes just two days after President-elect Donald Trump launched his own meme coin, which has since soared to a market cap of $10 billion.

Donald Trump has ventured further into the crypto world with the launch of Official Trump (TRUMP), a Solana-based meme coin. Announced just days before his second-term inauguration, the TRUMP token blends meme culture, politics, and blockchain into one eye-catching package.