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Did The TRUMP Token Team Just Sell Another $50 Million as Price Surged?

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TL;DR

  • A wallet linked to the Official Trump team has deposited another big chunk of tokens into crypto exchanges, with the most likely intention of taking advantage of the recent price surges.
  • At the same time, other whales continue to accumulate the asset, perhaps to secure a place in the upcoming dinner with the President.

TRUMP Team Sells Again?

The controversy around the fourth-largest meme coin continues as the team behind it has made another sizeable transaction into centralized exchanges. In the latest example, a wallet linked to them deposited over $52 million worth of TRUMP into trading platforms, which is typically associated with sales; otherwise, why would they transfer funds to exchanges, as everything on the blockchain is visible and traceable?

This is far from the first similar instance. Recall that in late April, the team transferred a more modest $20 million worth of the meme coin to Binance, OKX, and Bybit. At the time, TRUMP’s price had also risen in value after the announcement of the upcoming dinner with the president at one of his golf establishments in Washington, DC.

A recent report by Chainalysis, cited by CNBC, indicated that the TRUMP team has profited somewhere around $320 million from different activities with the token, including fees routed to wallets tied to the creators.

At the same time, the US President continues to claim that he has not profited even a cent from the meme coin’s price gains.

Whales Keep Buying

Following the dinner announcement made last month, which says that the top 220 TRUMP holders will have a chance to attend a special event with the POTUS on May 22, many investors rushed to purchase the profit, some with the obvious intention to attend it, others to profit by speculating.

With just a few days left until the holders’ snapshot deadline is over, on-chain data shows that one whale spent 4 million USDC to acquire 276,968 TRUMP tokens at $14.44. As of press time, this secures them a seat at the presidential table.

Príspevok Did The TRUMP Token Team Just Sell Another $50 Million as Price Surged? sa objavil ako prvý na CryptoPotato.

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