Meme Token TRUMP Sent to Donald Trump-Branded Crypto Wallet Now Worth Over $1.1 Million
Meme Token TRUMP Despatched to Donald Trump-Branded Crypto Wallet Now Price Over $1.1 Million
Memecoins in a crypto pockets purportedly linked to worn U.S. President Donald Trump procure risen to over $1 million in exactly six months.
Per records from blockchain analytics company Arkham Intelligence, the TRUMP meme cash despatched to Trump’s alleged crypto pockets were within the starting up price several thousand greenbacks, but procure since risen to over $1.16 million.
The tokens, within the starting attach aside price $7,100, were despatched between August and October 2023.
Whereas the creation of TRUMP tokens is circuitously linked with the worn president, there is speculation about its attainable connection to his ongoing presidential campaign. Memecoin issuers incessantly expend identical tactics of sending meme cash to celebrities to map attention and generate procuring interest.
The sources held within the worn president’s cryptocurrency pockets procure reached a valuation exceeding $2.6 million. This entails sources like $750,000 price of Ethereum, $733,000 price of Wrapped Ethereum (WETH), and varied other tokens, about a of which were doubtless received with out prior solicitation.
Following its launch, the TRUMP token exhibited steadiness in label; on the different hand, it experienced a surge from $0.19 to over $2 after Trump’s recent fundamental victories in Iowa and New Hampshire, which procure established him as a illustrious contender for the 2024 presidential elections.
The tokens procure a market capitalization of over $99 million on Wednesday, in response to CoinMarketCap.
Trump’s Crypto Historical past
Donald Trump has a track file of expressing criticism toward Bitcoin and other cryptocurrencies.
Throughout a rally in New Hampshire on January twenty second, Trump emphasised that he would oppose the establishment of a central bank for digital currency (CBDC) if all over all any other time elected to the presidency.
Trump acknowledged worn presidential candidate Vivek Ramaswamy, now endorsing Trump within the 2024 elections, for alerting him to the worries linked with a attainable central bank digital currency (CBDC).
“I is no longer going to ever enable the creation of a central bank digital currency,” Trump told the viewers.
The worn president additionally previously declared in July 2019 that he turned into once “no longer keen on Bitcoin.”
“I’m no longer keen on Bitcoin and other Cryptocurrencies, which will no longer be cash, and whose cost is extremely volatile and based mostly on thin air,” the worn president stated in an X put up.
Source : cryptonews.com
