Former United States President Donald Trump’s on-chain crypto asset holdings briefly surpassed $10 million on Monday, mainly driven by the surge of his largest token holding, TRUMP.
Key Details of Trump’s Crypto Portfolio:
- TRUMP Token:
- Holdings: 579,290 TRUMP tokens.
- Value: Approximately $6.79 million.
- Price Surge: TRUMP token reached an all-time high of $13.24 on May 27 but later declined to $12.04.
- Recent Performance: The token surged 53% over the past week before experiencing an 8.8% drop from its peak.
- Ether (ETH):
- Holdings: 464.2 ETH.
- Value: Around $1.79 million.
- MVP Tokens:
- Holdings: 1 million MVP tokens.
- Value: Approximately $473,000.
- Price Performance: MVP tokens reached an all-time high of $0.709 on May 17 but fell back 33% to $0.477.
Recent Developments:
- Crypto Endorsements: On May 25, Trump expressed his positive stance towards cryptocurrency companies and the broader industry, contributing to the surge in TRUMP token prices.
- Campaign Fundraising: On May 21, the Trump 2024 campaign launched a fundraising page allowing donations in cryptocurrency.
- Charity Initiatives: The MAGA memecoin, launched in August, aims to donate to U.S. veterans and child trafficking prevention. According to its website, it has donated 234.75 ETH to veterans and 204.5 ETH to child trafficking prevention efforts.
Current Market Situation:
- Portfolio Value: As of early trading on May 28, the total value of Trump’s crypto portfolio retreated to $9.5 million due to market declines.
Trump’s involvement in the crypto space, coupled with his endorsements, has significantly impacted the value of his holdings, particularly the TRUMP token. While his portfolio saw a brief peak above $10 million, market volatility continues to influence the value of his assets.
Source: cointelegraph.com
