Trump-Themed Meme Coin Sent to Donald Trump’s Wallet
You may have heard about $TRUMP, a memecoin that was previously sent to a cryptocurrency wallet associated with former U.S. President and current presidential candidate Donald Trump. At the time, the tokens were worth a few thousand dollars, but have since skyrocketed to over $1 million.
New Speculative Asset
It’s important to note that the TRUMP token’s release is not directly linked to the former U.S. President, but it’s become a speculative asset tied to his current presidential campaign. Trump’s wallet received around $7,100 in TRUMP tokens from its developers in a marketing ploy similar to ones used by memecoin creators to draw attention to their projects.
Soaring Token Value
After Trump’s success in the recent primaries, which positions him as a strong candidate for the 2024 Presidential elections, their value has soared to the point their market capitalization is now over $85 million.
Growth of the Wallet Linked to Trump
Among the various Trump-themed meme tokens on different blockchains, only this particular set has attracted a significant following. Its growth has seen the total value of the wallet linked to Trump shoot up to $2.5 million.
Wallet Contents
The wallet currently holds around $750,000 worth of Ether (ETH) and $750,000 worth of Wrapped Ether (WETH), along with small amounts of several other cryptocurrencies, most of which were sent to the wallet by other users.
Trump’s Warning Against CBDCs
Former US President Donald Trump has recently voiced his opposition to the Federal Reserve issuing a Central Bank Digital Currency (CBDC), which has garnered support from the cryptocurrency industry.
Hot Take
Trump’s warnings concerning CBDCs are in line with his broader economic and political agenda, resonating with his conservative base. He has consistently emphasized the potential risks associated with a government-issued digital currency, framing it as a “dangerous threat to freedom.”
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