1 month ago
Data from the blockchain analytics steadfast showed the memecoin had seen much than $869 cardinal successful outflows and $96 cardinal successful inflows implicit the past 7 days.
Though the identities of galore of the apical holders of US President Donald Trump’s memecoin were inactive unknown, blockchain information showed important outflows implicit the past 7 days — during which clip helium announced a meal and White House circuit for definite tokenholders.
According to information from blockchain analytics steadfast Nansen arsenic of April 25, the TRUMP memecoin had seen much than $869 cardinal successful outflows successful the past 7 days compared to astir $96 cardinal successful inflows among the apical 500 changes. Some of the changes followed Trump announcing that the apical 220 TRUMP holders could use to conscionable him astatine a play nine meal successful Washington, DC, with less opportunities for a White House tour.
“It’s wide that much radical took the accidental to offload their Trump tokens than caller buyers came in,” said Nansen. “There inactive appears to beryllium immoderate involvement — either A) to unafraid the meal ticket, oregon B) to capitalize connected terms volatility. As a result, a fewer caller wallets person entered the apical 250 holders, portion immoderate erstwhile holders look to person taken the accidental to exit their positions.”
Top TRUMP memecoin holders arsenic of April 25. Source: TRUMP tokenLaunched successful January earlier Trump took office, his memecoin, and that of his wife, Melania, person seen criticism from US lawmakers and leaders successful the crypto manufacture for imaginable conflicts of interest. At the clip of publication, the individuality of galore of the apical tokenholders and those who mightiness use to be the meal were unknown.
Who is investing successful Trump’s memecoin?
As of April 25, the apical tokenholder had 1,176,803 TRUMP memecoins worthy astir $16 cardinal astatine the clip of publication. The wallet holder, nether the username “Sun,” had led to speculation that Tron laminitis Justin Sun — a Trump protagonist and investor successful the Trump family-backed crypto firm World Liberty Financial — could beryllium among the meal attendees. Cointelegraph reached retired to Sun’s squad for remark but had not received a effect astatine the clip of publication.
Related: Trump memecoin squad denies $300K meal request rumors
Other tokenholders included usernames similar “elon” and “doge,” though it was unclear if Tesla CEO Elon Musk, besides a Dogecoin (DOGE) advocate, was progressive successful the project. The squad down the TRUMP token controls 80% of the full supply, resulting successful galore critics suggesting the Trump oregon idiosyncratic successful his household could inactive rug-pull investors.
Before the 2024 election, Trump arranged a akin meal astatine his Mar-a-Lago spot successful Florida with supporters who purchased non-fungible tokens depicting his mugshot during his apprehension for allegedly attempting to subvert the results of the 2020 election. It’s unclear whether immoderate of the aforesaid radical who attended the May 2024 lawsuit are among the apical TRUMP memecoin holders.
Magazine: Trump’s crypto ventures rise struggle of interest, insider trading questions
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