58 Wallets Pocket $1.1B as TRUMP Token Crashes 86%—What’s Really Happening?

By: ethnews|2025/05/10 17:30:06

TRUMP meme coin team moved $52M to Binance, OKX, Bybit, citing liquidity needs despite insider profit concerns and investor skepticism.Developers earned $320M in fees; 58 wallets profited $1.1B while 760K holders face losses, fueling insider advantage claims. The team behind the TRUMP meme coin, a memecoin linked to President Donald Trump, moved tokens valued at $52 million to three major exchanges this week.Source: Lookchain Blockchain analytics firm Lookonchain reported the transfers on May 10, noting deposits of 3.5 million tokens to Binance, OKX, and Bybit. Binance received 1.5 million tokens ($22 million), followed by OKX with 1 million ($15 million) and Bybit with 500,000 ($7.5 million).Liquidity Update: Demand for $TRUMP has been tremendous. On May 10, 2025 at approximately 1:30 am UTC, 3.5 million $TRUMP will be moved onto exchanges to further support liquidity operations to help ensure continued availability of $TRUMP for both buyers and sellers. All...— TrumpMeme (@GetTrumpMemes) May 10, 2025Developers described the moves as routine liquidity management, stating the funds originated from a wallet created at the token’s launch. They added that recently unlocked tokens were relocked for 90 days to reassure holders. However, critics highlight disparities in profit distribution, with data showing 58 wallets securing $1.1 billion in gains while 760,000 wallets remain at a loss.Chainalysis data cited by CNBC reveals the TRUMP team has earned $320 million from trading fees since the token’s debut. The asset initially surged to $77 upon launch but has since fallen 86%, trading near $14.Source: TRUMP/TradingviewSuch volatility is common in meme coins, but the combination of steep declines and concentrated profits has fueled skepticism. ETHNews analysts question whether early backers or developers disproportionately benefit from trading activity, given the uneven financial outcomes.Transparency and ConcernsTRUMP team maintains that exchange deposits support liquidity, a standard practice in crypto markets. Yet doubts persist about whether these transfers signal insiders reducing holdings.The wallet linked to the $TRUMP team just deposited 3.5M $TRUMP($52.66M) into exchanges again.https://t.co/9nc4YjTvxEhttps://t.co/Y8lStmCWyw pic.twitter.com/alY3TRv1oz— Lookonchain (@lookonchain) May 10, 2025The project’s reliance on Trump’s political brand adds another layer of uncertainty, as regulatory or reputational shifts could impact its viability.The post 58 Wallets Pocket $1.1B as TRUMP Token Crashes 86%—What’s Really Happening? appeared first on ETHNews.

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