Despite the political controversies surrounding the Trump Gala Dinner event, the crypto market recently witnessed a significant wave of accumulation of the TRUMP token, a meme coin associated with the Trump family.
These actions reflect strong interest from large investors, often referred to as 'whales', and highlight the growth potential of the TRUMP token amid a volatile market.
Whale accumulation to secure VIP tickets
The trend of accumulating the TRUMP token gained momentum as large investors continuously executed significant transactions.
On April 28, 2025, a whale withdrew 190,987 TRUMP tokens from Binance, increasing their total assets to 1.389 million tokens, equivalent to $20.59 million. This investor, known by the pseudonym 'MeCo', currently ranks second among the largest holders competing for a spot at the Trump Gala Dinner, trailing only Justin Sun.
On the same day, another whale bolstered their assets by adding 92,460 TRUMP tokens, belonging to the top 125 holders. Prior to this, on April 27, an experienced trader exchanged 1.18 million Fartcoins for 78,671 TRUMP tokens. Going back to April 26, a well-known whale reinvested early profits and additional funds, acquiring TRUMP tokens worth $5.73 million.
Also on that day, a whale withdrew 413,530 TRUMP tokens from the CEX platform.
These transactions reveal a clear trend: large investors are accumulating TRUMP tokens to secure their spots at the Trump Gala Dinner, an exclusive event reserved for top token holders.
Challenges at the beginning
Despite these actions, TRUMP is showing positive signals in the market. According to BeInCrypto, the price of TRUMP increased by 84% in the last seven days, outperforming many other cryptocurrencies. The spot trading volume of TRUMP on Binance also soared by 202% over nine days. However, despite these positive indicators, the Trump Gala Dinner has sparked intense political controversies.
On April 25, 2025, two U.S. senators, Adam Schiff and Elizabeth Warren, sent a letter to the U.S. Office of Government Ethics. They called for an investigation into the event, as they believed it violates federal ethical standards.
Senators expressed concerns that the event could be a 'pay-to-play' scheme. Investors pay for political access, as Trump promised a private dinner on May 22, 2025, for top holders.
Following this announcement, the value of the TRUMP token surged to over $100 million. This raised suspicions that the Trump family may be using their political influence for profit.
Schiff and Warren also questioned whether Trump or his family received advice on profiting from digital assets during his presidency. And what safeguards exist to prevent the purchase of political access through investments in TRUMP tokens? This controversy raised broader questions about the intersection of cryptocurrencies and politics, especially as more public figures engage in the crypto market.
Additionally, as previously reported by BeInCrypto, there are speculations that Trump may use the Trump Gala Dinner to promote a new NFT project.
In summary, the wave of accumulation of TRUMP tokens for participation in the Trump Gala Dinner indicates a strong financial appeal of this meme coin due to its social and political significance. Positive data on price and trading volume bolster investor confidence in the growth potential of TRUMP.
However, the political controversies surrounding the event also introduce significant risks. Investors should remain vigilant, closely monitoring market developments and related legal factors.#BinanceSquare #Write2Earn #Binance #crypto #TRUMP $TRUMP