1 month ago
A wallet reportedly linked to the authoritative Donald Trump memecoin task has transferred astir $20 cardinal worthy of TRUMP tokens to centralized exchanges.
On April 29, on-chain expert EmberCN reported that the team’s wallet transferred 1.346 cardinal TRUMP tokens, valued astatine $19.53 million, to 3 large exchanges.
Data from Arkham Intelligence, cited by EmberCN, revealed that astir 700,000 TRUMP tokens worthy $10.21 cardinal were sent to Binance. Another 350,000 tokens valued astatine $5.08 cardinal went to OKX, portion Bybit received 296,000 tokens worthy astir $4.32 million.
On-chain enactment suggests the wallet is linked to the squad oregon different insider and holds implicit $150 million TRUMP tokens funded via the wallet 7qtDv.
TRUMP token hint (Source: Arkham Intelligence)While the nonstop crushed down the transfers remains unclear, specified movements typically awesome preparations for imaginable sales. However, insider vested token unlocks began earlier this month.
Meanwhile, this enactment coincided with a crisp diminution successful TRUMP’s price. Data from CryptoSlate shows that the token dropped by 9% implicit the past 24 hours to commercialized astatine $13.78, marking a steep autumn from its caller highs.
The latest selloff follows heightened excitement about a planned exclusive meal with President Donald Trump, which initially drove the token’s terms and on-chain enactment higher.
TRUMP’s token on-chain enactment spikes
Blockchain analytics steadfast Kaiko reported a 200% spike successful TRUMP’s trading measurement pursuing the meal announcement.
According to the firm, astir 10,000 wallets engaged successful TRUMP token transfers during the surge, generating astir $2.4 cardinal successful on-chain transaction volume—the busiest time for TRUMP this month.
Kaiko’s information showed that astir transactions came from smaller wallets, each holding little than $100,000 worthy of TRUMP tokens.
Meanwhile, the integer asset’s trading enactment connected centralized exchanges besides soared. Kaiko noted that TRUMP recorded its highest regular measurement since mid-February, surpassing each different large memecoins, including DOGE.
On the announcement time alone, TRUMP accounted for astir 50% of full memecoin trading measurement crossed centralized platforms, a wide motion of the token’s dominance.
Although trading volumes and on-chain enactment person cooled since the archetypal surge, Kaiko noted that much question is expected arsenic the contention deadline nears. The event’s rules authorities that the apical 220 holders with the highest mean TRUMP holdings betwixt April 23 and May 12 volition suffice for the dinner.
At the clip of writing, the idiosyncratic known arsenic “Sun” leads the leaderboard with implicit 1 cardinal time-weighted TRUMP holdings. Meanwhile, the wallet “REAL” holds the 220th position, with conscionable implicit 1,002 time-weighted TRUMP tokens.
The station Likely Donald Trump $150M memecoin insider wallet moves $20M TRUMP to exchanges arsenic terms dips appeared archetypal connected CryptoSlate.
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