According to Arkham, former US President Donald Trump’s cryptocurrency wallet currently holds assets worth more than $30 million. This sudden growth stems from the memecoin TROG airdropping half of its total supply, valued at more than $20 million, into his wallet.
On-chain data from Arkham indicates that the value of assets in the former US President’s wallet has surpassed the $30 million mark, marking a threefold increase since the last recorded value on May 28th.
Accordingly, Mr. Trump’s wallet holds the majority of memecoins, with 210.34 billion TROG (valued at $18.4 million), 579.29 thousand TRUMP tokens (worth $7.56 million), 1 million MAGA VP (MVP) tokens (approximately $437,000), and ETH worth $3.22 million.
The bulk of the wallet’s value originates from the memecoin event TROG airdrop, which deposited 210.34 billion tokens, equivalent to half of the total supply, into the wallet with an initial value of around $5 million at launch.
As of the current moment, memecoin TROG has surged by over 400%, resulting in the total value of TROG “given away” for free exceeding $21.4 million.
However, memecoin TROG only has approximately $1.1 million in liquidity. Therefore, if Mr. Trump were aware of these tokens and intended to sell them all, there wouldn’t be enough liquidity available to liquidate more than half of the TROG tokens.
Additionally, memecoin MAGA (TRUMP) has not seen significant changes, currently fluctuating around $13.1 USD, experiencing a 1.2% decrease in the past 24 hours.
Previously, memecoin MAGA experienced its highest increase of up to 1,500% since the beginning of this year, thanks to the memecoin fever led by Dogwifhat, Pepe, Dogecoin, and Bonk.
Not only MAGA, but memecoins themed around other politicians also surged in popularity following a series of pro-crypto statements by Mr. Trump.
It all began when Mr. Trump stated that President Biden knows nothing about cryptocurrency and expressed support for accepting crypto donations. He then announced that if re-elected, one of his first decrees would be to pardon Ross Ulbricht, the founder of the black market Silk Road.
However, Mr. Trump was later convicted of a criminal offense, causing the prices of related memecoins to fluctuate wildly on May 31st.
Data from Arkham indicates that the former President, among celebrities, holds the largest amount of cryptocurrency, with a total value of up to $33 million USD at the time of reporting.
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