Trump Media & Technology (DJT) saw its stock soaring by 5.08% during Thursday's intraday trading session, following news of a potential blockchain token launch. The company, which operates the Truth Social platform, is reportedly planning to introduce a DJT token, marking a significant move into the cryptocurrency space.

According to HTX Researcher Chloe, the proposed DJT token could become the first practical token led by a US-listed media company and implemented in a real social application scenario. This development represents a deep integration between US stocks and on-chain assets, potentially opening new avenues for growth and user engagement in the social media sector.

Analysts are optimistic about the token's prospects, citing Trump Media & Technology's strong political brand, social media popularity, and the potential for a real ecological closed loop within its platform. Chloe suggests that the DJT token could break away from typical meme token hype, positioning itself as a promising growth-oriented crypto asset. As investors digest this news, the market appears to be reacting positively to the company's foray into blockchain technology, driving the stock's significant upward movement.