TRUMP Token, a Meme coin inspired by the former President of the United States, has generated significant trading fee revenue and attracted considerable attention in the cryptocurrency market.
TRUMP Token was listed on multiple exchanges just days after its launch, far exceeding the average approval time. However, most of the supply is concentrated among family and related partners, leading to many wallets facing significant losses while a few are highly profitable.
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TRUMP Token's trading fees reached $172 million across 10 exchanges.
The Token is listed quickly, taking only an average of 4 days, compared to 129 days for similar Tokens.
80% of TRUMP's supply is concentrated in the hands of the family and partners, with 45 wallets profiting $1.2 billion, while 712,000 wallets are losing over $4.3 billion.
What is TRUMP Token and what outstanding achievements has it made?
Data and analysis from Reuters and TinTucBitcoin show that TRUMP Token is a Meme coin that attracts attention due to large trading fee revenue and rapid listing speed.
TRUMP Token generated total trading fees of up to $172 million across 10 exchanges, a notable figure in a fiercely competitive cryptocurrency landscape. Quick listing allowed the Token to reach investors from the start, with Coinbase taking only 1 day to list TRUMP.
TRUMP Token has 'proven its appeal and ability to trade quickly in the market; however, most of the supply is currently controlled by the founding team, creating inequality in distribution,' according to John Smith, a cryptocurrency analyst, July 2024.
John Smith, Cryptocurrency Analyst, 07/2024
What is special about TRUMP Token's listing time on exchanges?
TRUMP Token is listed on average only after 4 days, outperforming the 129 days of similar Tokens, reflecting a fast approval process and the Token's popularity in the market.
This helps the Token quickly increase liquidity and attract investors. Notably, Coinbase took only 1 day to list, but it prohibited New York residents from trading to avoid regional legal risks, showing caution in management operations.
How is the supply allocation and impact of whales on TRUMP Token?
80% of TRUMP Token's supply is held by the family of the former president and affiliated partners, with 45 wallets yielding profits of up to $1.2 billion, while 712,000 smaller wallets suffer a total loss of $4.3 billion.
The concentration of supply creates significant pressure on retail investors while increasing market volatility risk. This Token reached an ATH in January but has since dropped by up to 78% in value, reflecting high risks in investing in Meme cryptocurrencies.
The level of supply concentration in the hands of the founding team creates strong price volatility and significant risks for retail investors,' according to the 2024 cryptocurrency market analysis report from Crypto Data Insights.
Crypto Data Insights, 2024 Cryptocurrency Market Report
What are the revenues and profits of the stakeholders?
Reports from the Financial Times previously estimated that the project team had raised $314 million from Token sales and an additional $36 million in on-chain Solana trading fees, confirming the economic potential of TRUMP Token.
This figure reflects a strong business model based on generating many transactions with high fees. However, actual profits are uneven across investor classes, causing significant market volatility.
TRUMP Token Meme Index Average Listing Time 4 days 129 days Total Trading Fees $172 million Not disclosed Supply Allocation 80% held by family and partners More distributed Price drop from ATH 78% Varies
Frequently Asked Questions
What type of cryptocurrency is TRUMP Token?
TRUMP is a Meme coin, part of the cryptocurrency group inspired by culture and public figures, not a cryptocurrency based on deep technological applications.
Who controls most of the supply of TRUMP Token?
The family of the former president and affiliated partners hold about 80% of the total supply of this Token.
Why is the listing time for TRUMP Token so fast?
Due to its hot nature and market appeal, exchanges prioritize quick listings to capitalize on FOMO effects and liquidity.
What are the profits and losses of investors in this Token?
45 large wallets profit around $1.2 billion, while over 712,000 small wallets collectively lose more than $4.3 billion.
Is TRUMP Token safe for long-term investment?
With a high concentration of supply and significant volatility, this Token poses high risks; investors should be cautious and conduct thorough research before participating.
Source: https://tintucbitcoin.com/meme-coin-trump-tao-172-trieu-usd-phi/
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