Team Trump sold $500 million worth of its newly launched TRUMP tokens, retaining 85% of the total supply, according to blockchain analyst Conor.
“From what I can see on the channel, Trump has sold about $500 million worth of tokens so far,” declared adding that every token in circulation has either been sold or provided as liquidity.
Data shows that $20 million worth of TRUMP tokens were sent to Bybit in just seven hours, while most of the USDC reserves tied to these transactions were channeled into providing liquidity on Meteora.
How TRUMP tokens are controlled and distributed
announced Friday evening by self-proclaimed Tooth of Crypto” Donald Trump Trump described memecoin as a celebration of “WINNING” the election and his upcoming inauguration.
Since its launch, TRUMP’s price has surged more than 11,000%, reaching an all-time high of $35 just an hour earlier. It has since been corrected to $26 at press time. Its market capitalization stands at nearly $6 billion, according to data from CoinMarketCap.
The token was developed on the Solana blockchain and launched with an initial supply of 200 million coins. However, the overall supply is expected to reach 1 billion over the next three years, as stated on its official website.
Currently, 80% of the tokens remain locked under the control of two entities: CIC Digital LLC, a subsidiary of the Trump Organization, and Fight Fight Fight LLC, a Delaware-based company registered on January 7.
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Both companies will receive undisclosed revenue from the trading activity of the token. Conor pointed out that the terms “public distribution” and “liquidity” on TRUMP’s website appear to mean “we will sell.”
The token’s website also comes with a disclaimer that reads:
“Trump memes are intended to function as an expression of support and commitment to the ideals and beliefs embodied in the “$TRUMP” symbol and associated artwork, and are not intended to be, or to object, an investment opportunity, investment jitters or security of any type. GetTrumpMemes.com is not political and has nothing to do with any political campaign, political office, or government agency.
Meanwhile, Moonshot said that over the past 12 hours they have been featured on the website as THE way to purchase the token. Since then, they have processed nearly $400 million in volume, broken fiat on-ramp records by orders of magnitude, and onboarded over 200,000 new people into the chain.
Meteora, Moonshot, Wintermute and Jupiter may have coordinated with TRUMP in advance.
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