Chainalysis found that most cryptocurrency addresses of investors who lost money held small amounts of tokens. The presidential token was on 2 million cryptocurrency addresses, but only 58 users managed to earn large sums from it — each of them made over $10 million, and their total profit amounted to about $1.1 billion.
Investor interest in the TRUMP token surged after the project's management promised 220 of the largest holders of the memecoin a spot at a gala dinner with the U.S. president. The event is scheduled for May 22 at the Trump National Golf Club in Washington. It includes a tour of the White House, and the 25 largest token holders will be able to meet Trump in person. Following this news, the market capitalization of TRUMP exceeded $2.7 billion; however, the figure later adjusted and currently stands at $2.41 billion.
Chainalysis analysts found that since April 15, another 100,000 owners of new cryptocurrency addresses have purchased the TRUMP token, extending the memecoin's bullish rally despite the volatility of the crypto market. Currently, only 20% of the total supply of TRUMP is in circulation. The remaining 80%, controlled by Trump Organization and affiliates, is locked up according to a three-year vesting schedule.
Despite the fact that insiders may be restricted from selling their tokens, they are generating significant income. Chainalysis reported that since January, the creators of the crypto project have received over $324 million in trading fees. The token's code stipulates that a portion of the amount from each transaction is automatically directed to their cryptocurrency addresses, so the project team passively earns profits.
The TRUMP memetoken has attracted the attention of regulators and ethics experts. The special subcommittee of the U.S. Senate on investigations has already begun examining potential conflicts of interest related to Donald Trump's cryptocurrency activities.
