Former President Donald Trump’s foray into the world of cryptocurrency has been met with each triumph and turbulence. Current experiences reveal that Trump has made hundreds of thousands from his crypto investments, but the heightened volatility within the crypto markets has taken a toll on his portfolio.
Trump’s Crypto Windfall
All of it started when Trump’s identify, picture, and likeness had been utilized in a non-fungible token (NFT) undertaking known as Trump Digital Buying and selling Playing cards. These distinctive digital collectibles, priced at $99 every, swiftly gained traction and bought a staggering 45,000 items in December 2022.
Since then, Trump has been receiving royalties on buying and selling volumes, accumulating over 1,800 Ethereum (ETH) and Wrapped Ethereum (WETH) tokens, information from Arkham Intelligence exhibits.
Trump's crypto portfolio. Supply: Arkham Intelligence
Sudden Crypto Journey
Because the crypto panorama continued to evolve, Trump’s crypto journey took an unexpected flip. In the summertime of 2023, Trump turned the recipient of a substantial variety of MAGA Coin (TRUMP) tokens, a meme coin created in his honor.
Whole crypto market cap at $2.5 trillion on the each day chart: TradingView.com
On the time, the practically 580,000 TRUMP tokens had been value only a few thousand {dollars}. Nonetheless, the worth of TRUMP skyrocketed as Trump carried out properly in main elections and secured the Republican nomination. This surge in worth propelled Trump’s portfolio to new heights, with the MAGA Coin alone accounting for the majority of his $8.5 million crypto holdings.
Missed Alternatives And Worth Decline
Regardless of the preliminary success of his crypto investments, Trump’s portfolio has just lately confronted challenges as the worth of MAGA Coin and ETH skilled vital declines. The worth of TRUMP reached its peak on March 4, reaching a formidable $11.56 per token. Nonetheless, since then, the coin has skilled a pointy decline and is presently buying and selling round $4, marking a 61% lower over the previous month.
MAGA value motion within the final week. Supply: CoinMarketCap
MAGA Loses 60% Of Its Worth
Since MAGA’s early March highs, its value has considerably decreased. On March 4, the token reached a excessive of $11.56, however it’s presently buying and selling at about $5.93. The current 60% decline in value has had a detrimental impact on Trump’s cryptocurrency holdings.
The downturn within the crypto market has had a substantial influence on Trump’s crypto investments, which has fallen to $5.3 million, representing a decline of over $3 million. The missed alternative to promote his tokens in the course of the peak in early March has additional exacerbated the decline in worth.
Featured picture from Pixabay, chart from TradingView
