Donald Trump, the former president of the United States and the current Republican presidential candidate, has received at least $10 million worth of memecoins through airdrops from developers of various projects. Trump’s cryptocurrency portfolio includes tokens such as $TRUMP, $ETH, $WETH, $MVP, $CONAN, $BABYTRUMP, and $MAGA. With the exception of $ETH and $WETH, all the other tokens are memecoins.
In a recent development, it has been reported that Trump now holds a whopping eight-figure sum in memecoins. These tokens were airdropped to him by the developers and he did not purchase them himself. This news was shared by Arkham, a blockchain intelligence firm, through a tweet on June 1, 2024.
The spike in the value of the TRUMP token played a major role in boosting Trump’s crypto portfolio. On May 29, the value of Trump’s on-chain cryptocurrency holdings surpassed $10 million, primarily due to the soaring price of the TRUMP token, which reached $15.44. This surge in value can be attributed to Trump’s recent endorsement of cryptocurrencies. On May 25, he expressed a positive attitude towards cryptocurrency companies and the industry as a whole. In line with this endorsement, the Trump 2024 campaign launched a crypto donation page on May 21.
At present, Trump owns 579,290 TRUMP tokens, which are valued at approximately $8.56 million. However, it is worth noting that the value of TRUMP has decreased over time and is currently priced at $14.7.
In addition to his substantial investments in TRUMP, Trump also holds a significant amount of Ethereum. He possesses 464.2 ETH, which is equivalent to around $1.79 million. Furthermore, Trump owns one million MVP tokens, another memecoin aimed at providing rewards and funding his campaign. Although MVP reached its highest level of $0.709 on May 17, it has experienced a 33% decline and is currently trading at $0.477. This puts the total value of Trump’s MVP holdings at approximately $473,000.
These holdings not only highlight the immense potential of memecoins and the impact that personalities like Donald Trump can have on them, but also underscore the volatility of the market and the associated risks. The fluctuating values of TRUMP and MVP tokens serve as clear examples of this.