Donald Trump Allegedly Sells Ethereum (ETH) Worth $2.4M Amidst 10% Price Surge

Donald Trump Sends Ethereum to Coinbase Despite Whale Accumulations

The on-chain analytical platform, Arkham, recently revealed that Donald Trump has sent 1,075 Ethereum (ETH) to Coinbase in the past three weeks. This amounts to a value of $2.4 million. The former US President acquired this ETH through earnings related to non-fungible tokens (NFTs).

Trump’s NFT Collections

Donald Trump has released three collections of NFTs so far. While the first two collections quickly sold out, the third collection has received less attention from the community.

Arkham Analytical Platform’s Findings

Arkham, through a tweet on Twitter, shared their findings regarding Trump’s ETH deposits. According to Arkham, Trump had been accumulating ETH royalties from his NFTs for months before starting to send them to Coinbase three weeks ago. His peak balance was $4 million, and so far, he has sold 1,075 ETH for $2.4 million.

Trump’s Top Holdings

Based on Arkham data, Trump’s top three holdings are as follows:

589.53 ETH worth $1.40 million
273.74 Wrapped Ethereum (WETH) worth $649,000
579,281 TRUMP worth $175,569

Ethereum Rally and Network Activity Surge

Despite the recent rally in the price of Ethereum, with a 10% increase since Wednesday’s lows and hitting yearly highs at $2,444, Trump has continued to deposit ETH into Coinbase. It is worth noting that there has been a surge in Ethereum network activity recently, particularly with withdrawals from centralized exchanges.

Hot Take: Donald Trump’s ETH Deposits Reflect His Confidence in the Market

Donald Trump’s decision to deposit Ethereum into Coinbase despite recent whale accumulations and the surge in network activity indicates his confidence in the market. While his latest NFT collection may not have gained as much attention as previous ones, Trump’s ongoing involvement with Ethereum suggests he believes in its long-term potential. As the price of ETH continues to rally, it will be interesting to see how Trump’s investments evolve and whether he explores other opportunities within the crypto space.