Recently, the craze surrounding the TRUMP token has attracted a lot of attention, with the most notable being the private banquet held by Trump at his exclusive golf course. This event, originally seen as the 'annual highlight of the crypto world,' left behind a trail of doubts and disappointments once the lights dimmed.
Expensive tickets, yet a cold response
According to (Decrypt) reports, while some TRUMP token holders received VIP qualifications for the banquet, many had actually sold all their TRUMP tokens by the day of the event. On-chain data shows that only 8 VIPs retained a certain amount of tokens after the banquet, and within days of the May 12 snapshot, they transferred their assets to centralized exchanges, seemingly lacking confidence in the token's future.
In this group, each person originally held an average of $4.78 million worth of TRUMP tokens, but the average holding has now dropped to $2.11 million. As one investor jokingly remarked: 'This meal might have just cost over $2 million.'
Star-studded guests, a dimly lit banquet
The guest list included heavyweight figures, such as crypto mogul Justin Sun and Wintermute founder Evgeny Gaevoy. However, no matter how impressive the guest lineup, it couldn't hide the 'failure' of the onsite experience.
(Fortune) magazine noted that 25-year-old crypto influencer Nicholas Pinto purchased $360,000 worth of TRUMP tokens to qualify for the banquet, only to be greatly disappointed by the entire event. He described the 'Trump Organic Farm Salad' on the menu and the main course combination of 'Filet Mignon + Pan-Seared Flounder' as 'Walmart level,' even stating that the most delicious food of the night was the bread and butter served before the meal.
More regrettably, most guests failed to take photos with Trump and didn't even have the chance for close encounters. Although Trump was present and gave a speech, many guests felt the content was vague and lacked substantial information. Host Caitlin Sinclair also expressed dissatisfaction with the 'zero photo opportunity.'
The illusion and reality of crypto tokens
The TRUMP token banquet was supposed to be a luxurious showcase, but it instead resembled a mirror reflecting the reversal of market sentiment and the subtle changes in investor psychology. From fervent enthusiasm to rational withdrawal, many began to reassess the true value of this token.
Perhaps this banquet symbolizes not only the 'president's presence' but also serves as a microcosm of the 'harvesting' in the crypto market. The future direction of the TRUMP token remains uncertain, but one thing is clear: behind every halo, there are risks and returns that require careful consideration.
