According to Arkham, the crypto wallet of former U.S. President Donald Trump currently holds assets worth over $30 million. This sudden growth is due to the memecoin TROG, which airdropped half of its total supply, valued at over $20 million, into his wallet.
On-chain data from Arkham indicates that the asset value in the former U.S. President’s wallet has surpassed $30 million, tripling since the last recorded value on May 28.
According to the data, Trump’s wallet holds mostly memecoins, including 210.34 billion TROG ($18.4 million), 579.29 thousand TRUMP tokens ($7.56 million), 1 million MAGA VP (MVP) tokens (approximately $437,000), and ETH worth $3.22 million.
The majority of the wallet’s value comes from the memecoin TROG airdrop of 210.34 billion tokens, equivalent to half of the total supply, into this wallet, valued at approximately $5 million at the time of the airdrop.
As of the time of reporting, the memecoin TROG has surged by more than 400%, raising the total value of the airdropped TROG to over $21.4 million.
However, the memecoin TROG only has about 1.1 million USD in liquidity, so if Mr. Trump is aware of this token and wants to sell all of it, it still wouldn’t provide enough liquidity necessary for liquidating more than half of the TROG tokens.
Previously, the memecoin MAGA has seen its highest increase of up to 1,500% since the beginning of the year due to the memecoin craze led by Dogwifhat, Pepe, Dogecoin, and Bonk.
Not only MAGA, but other memecoins themed around other politicians have also surged following a series of pro-crypto statements from Mr. Trump recently.
It all started when Mr. Trump claimed that President Biden knows nothing about cryptocurrencies and began accepting crypto donations. He then announced that if re-elected, one of his first orders would be to grant freedom to Ross Ulbricht, the founder of the Silk Road black market.
However, Mr. Trump was subsequently convicted of criminal charges, causing significant fluctuations in the prices of related memecoins on May 31.
Data from Arkham indicates that the former president is famously holding the largest amount of cryptocurrency with a total value of up to 33 million USD at the time of reporting.
