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 tens of millions 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 title, picture, and likeness have been utilized in a non-fungible token (NFT) mission referred to 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 reveals.
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 grew to become the recipient of a substantial variety of MAGA Coin (TRUMP) tokens, a meme coin created in his honor.
Complete crypto market cap at $2.5 trillion on the every day chart: TradingView.com
On the time, the almost 580,000 TRUMP tokens have been price just some thousand {dollars}. Nevertheless, the worth of TRUMP skyrocketed as Trump carried out nicely 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 lately confronted challenges as the value of MAGA Coin and ETH skilled vital declines. The worth of TRUMP reached its peak on March 4, reaching a powerful $11.56 per token. Nevertheless, since then, the coin has skilled a pointy decline and is at present buying and selling round $4, marking a 61% lower over the previous month.
MAGA worth motion within the final week. Supply: CoinMarketCap
MAGA Loses 60% Of Its Worth
Since MAGA’s early March highs, its worth has considerably decreased. On March 4, the token reached a excessive of $11.56, however it’s at present buying and selling at about $5.93. The latest 60% decline in worth has had a detrimental impact on Trump’s cryptocurrency holdings.
The downturn within the crypto market has had a substantial impression 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
