Cryptocurrency price latest: Around 600,000 wallets have lost nearly whopping $4 billion so far in President Donald Trump's $TRUMP meme coin, claims report
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Buyers of U.S. President Donald Trump 's $TRUMP meme coin have reportedly made gains but not all, according to a report.Since the $TRUMP meme coin launch three days before the president's inauguration, more than 60 large wallets have profited close to $1.5 billion, with $48 million in profits occurring after the April dinner announcement, according to reviews by Inca Digital and crypto analytics tracker Bubblemaps as of May 8.At least two of the largest investors in the $TRUMP contest have made profits in excess of $10 million each, Inca Digital found, while 15 investors have made more than $1 million.Meanwhile, about 600,000 other wallets have lost $3.87 billion so far, with $117 million of losses occurring after Trump announced the dinner on social media, Bubblemaps found. The purchases were on the secondary market, meaning Trump's family collected relatively small amounts of fees, Reuters reported.The coins surged to $75 after Trump announced them over his Inauguration weekend before falling to a low of $7.50. On Sunday, $TRUMP was trading around $14.The current market value of all $TRUMP coins is $2.74 billion. A company controlled by the Trump family and a second firm together hold 80 per cent of the remaining supply of the meme coins, which are advertised with an image of the president raising his fist in reference to his July assassination attempt.So far, the entities behind the Trump coin have earned $320.19 million in fees, including at least $1.35 million after the dinner announcement, according to blockchain analytics firm Chainalysis.The $TRUMP meme coin is part of the Trump family's growing array of crypto ventures including the trading platform World Liberty Financial, Trump Media & Technology Group's new crypto ETFs, a crypto mining operation, American Bitcoin, and a stablecoin pegged to the U.S. dollar called USD1.A1. President of USA is Donald Trump.A2. The coins surged to $75 after Trump announced them over his Inauguration weekend before falling to a low of $7.50. On Sunday, $TRUMP was trading around $14.
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