Donald Trump’s cryptocurrency holdings briefly reached $10 million, driven primarily by his TRUMP token holdings.
There was a brief moment on Monday when the on-chain cryptocurrency asset holdings of former President Donald Trump reached $10 million. TRUMP, his largest token holding, primarily drove this.Arkham, a blockchain intelligence company, announced on May 27 that the cryptocurrency asset portfolio of presidential candidate Donald Trump has surpassed $10 million.
On May 27, the MAGA memecoin known as TRUMP reached an all-time high price of $13.24, which was the catalyst for the sudden increase in the portfolio’s value to seven figures. Arkham asserts that Donald Trump possesses 579,290 TRUMP tokens, valued at approximately $6.79 million.
Donald Trump’s Crypto Support Spurs 53% Memecoin Surge”
Because of Donald Trump’s support for cryptocurrency, the memecoin has experienced a 53% increase in value over the previous week. In a statement that he made on May 25th, he stated, “I am very positive and open-minded to cryptocurrency companies, as well as all things related to this fledgling and emerging industry.”On May 21, the Trump 2024 campaign launched its fundraising page.
The portal allows individuals to donate in cryptocurrency. TRUMP’s price has decreased by 8.8 percent since reaching its highest point, and it is currently trading at $12.04 as of this writing. During the early trading session on May 28, the cryptocurrency markets experienced a decrease, which resulted in the total portfolio falling to a value of $9.5 million.
Established in August, MAGA aims to provide financial assistance to US veterans and safeguard children. There is no official affiliation or endorsement of Donald Trump with this product, despite the fact that it contains the name of the previous president.
According to the official website, since the launch of MAGA, donors have contributed a total of 234.75 ETH to veterans in the United States of America and 204.5 ETH to the prevention of child trafficking. Donald Trump possesses a large Ether bag that contains 464.2 ETH, which is equivalent to around $1.79 million as of this writing.He also possesses one million MVP tokens, estimated to be worth approximately $473,000.
MVP is yet another memecoin that provides recipients with rewards and encourages donations to the Trump campaign for the presidency. On May 17, it reached an all-time high of $0.709, but since then, it has dropped over 33 percent, and it is currently trading at $0.477 at the time of this writing.