BullishBanter
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Trump Team Sells $450M in TRUMP Tokens, Holds 85% of Supply
The #TRUMP team has reportedly sold $450 million worth of their newly launched $TRUMP tokens, while retaining control of 85% of the token's total supply, as observed by blockchain analyst Connor.
“Based on on-chain activity, the Trump team has sold around $450 million worth of tokens so far,” Connor explained. He further added that all the tokens circulating in the market have either been sold directly or used to provide liquidity.
TRUMP Token Distribution Insights
In the first seven hours after launch, approximately $18 million worth of TRUMP tokens were transferred to Bybit, a leading cryptocurrency exchange. Additionally, most of the USDC earned through these sales was redirected into liquidity pools on Meteora to ensure smooth trading.
How TRUMP Tokens Are Controlled
The TRUMP token, which was introduced as a celebration of Trump’s claimed election victory and upcoming inauguration, has sparked a wave of excitement in the crypto space. Trump himself announced the token’s release on Truth Social, describing it as a symbol of “WINNING.”
Since its debut, TRUMP’s value has skyrocketed by over 10,000%, peaking at $30 before correcting to $24 at the time of writing. According to CoinMarketCap, the token now boasts a market capitalization of nearly $5.5 billion.
The token, developed on the Solana blockchain, launched with an initial supply of 220 million coins, with plans to gradually increase the supply to 1 billion tokens over the next three years, as mentioned on the token’s official website.
Currently, 85% of the token’s supply is locked under the control of two entities:
1. CIC Digital LLC, an affiliate of the Trump Organization.
2. Fight Fight Fight LLC, a company registered in Delaware earlier this year.
These entities are expected to generate undisclosed revenues from the trading activity of TRUMP tokens. Analysts have noted that terms like “public distribution” and “liquidity provision” on the official website likely indicate plans for further sales by these entities.
Official Disclaimer on TRUMP Tokens
The token's website includes a disclaimer clarifying that TRUMP tokens are intended to promote and engage with the values represented by the “$TRUMP” brand and its associated art. It also states that these tokens are not meant to be viewed as an investment, a security, or an investment contract of any kind. The website emphasizes that it is not associated with any political campaign or government agency.
Trading and On-Chain Activity
Over the last 12 hours, Moonshot—a platform featured as one of the main ways to purchase TRUMP tokens—processed nearly $350 million in trading volume. The platform also set new records for fiat onramp activity and onboarded more than 180,000 new users onto the blockchain.
Additionally, platforms like Meteora, Moonshot, Wintermute, and Jupiter are believed to have collaborated with the TRUMP token team prior to its launch to coordinate trading and liquidity.
While the TRUMP token has captured significant attention in the crypto market, it remains a polarizing project. The involvement of prominent entities and the sheer scale of trading activity suggest that this token could continue to influence the market in the coming months. However, its long-term impact remains uncertain.
What’s your view on the TRUMP token? Let’s discuss below ..
#TRUMPOnBinanceFutures #TRUMPCoinMarketCap #TrumpCrypto
“Based on on-chain activity, the Trump team has sold around $450 million worth of tokens so far,” Connor explained. He further added that all the tokens circulating in the market have either been sold directly or used to provide liquidity.
TRUMP Token Distribution Insights
In the first seven hours after launch, approximately $18 million worth of TRUMP tokens were transferred to Bybit, a leading cryptocurrency exchange. Additionally, most of the USDC earned through these sales was redirected into liquidity pools on Meteora to ensure smooth trading.
How TRUMP Tokens Are Controlled
The TRUMP token, which was introduced as a celebration of Trump’s claimed election victory and upcoming inauguration, has sparked a wave of excitement in the crypto space. Trump himself announced the token’s release on Truth Social, describing it as a symbol of “WINNING.”
Since its debut, TRUMP’s value has skyrocketed by over 10,000%, peaking at $30 before correcting to $24 at the time of writing. According to CoinMarketCap, the token now boasts a market capitalization of nearly $5.5 billion.
The token, developed on the Solana blockchain, launched with an initial supply of 220 million coins, with plans to gradually increase the supply to 1 billion tokens over the next three years, as mentioned on the token’s official website.
Currently, 85% of the token’s supply is locked under the control of two entities:
1. CIC Digital LLC, an affiliate of the Trump Organization.
2. Fight Fight Fight LLC, a company registered in Delaware earlier this year.
These entities are expected to generate undisclosed revenues from the trading activity of TRUMP tokens. Analysts have noted that terms like “public distribution” and “liquidity provision” on the official website likely indicate plans for further sales by these entities.
Official Disclaimer on TRUMP Tokens
The token's website includes a disclaimer clarifying that TRUMP tokens are intended to promote and engage with the values represented by the “$TRUMP” brand and its associated art. It also states that these tokens are not meant to be viewed as an investment, a security, or an investment contract of any kind. The website emphasizes that it is not associated with any political campaign or government agency.
Trading and On-Chain Activity
Over the last 12 hours, Moonshot—a platform featured as one of the main ways to purchase TRUMP tokens—processed nearly $350 million in trading volume. The platform also set new records for fiat onramp activity and onboarded more than 180,000 new users onto the blockchain.
Additionally, platforms like Meteora, Moonshot, Wintermute, and Jupiter are believed to have collaborated with the TRUMP token team prior to its launch to coordinate trading and liquidity.
While the TRUMP token has captured significant attention in the crypto market, it remains a polarizing project. The involvement of prominent entities and the sheer scale of trading activity suggest that this token could continue to influence the market in the coming months. However, its long-term impact remains uncertain.
What’s your view on the TRUMP token? Let’s discuss below ..
#TRUMPOnBinanceFutures #TRUMPCoinMarketCap #TrumpCrypto
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.