Editor's PiCK
"Trump Meme Coin, A Barometer of Presidential Support?... About ₩700 billion Scheduled to Unlock Next Month"
Summary
- They reported that TRUMP tokens worth $520 million are scheduled to be unlocked next month.
- It was reported that Eric Trump announced a TRUMP token purchase plan, but the market response was lackluster.
- It was stated that the TRUMP token is becoming a tool for measuring the president's political performance and momentum.
Donald Trump's official meme coin, OfficialTrump (TRUMP), is set for a large-scale token unlock worth $520 million (about ₩707.9 billion) next month.
According to cryptocurrency-focused media Cointelegraph on the 7th (local time), the Trump meme coin is scheduled for a major token unlock on the 18th of next month. According to on-chain data analytics firm Tokenomist, 50 million TRUMP tokens (about $520 million), accounting for 25% of the circulating supply, will be released into the market next month.
Earlier on this day, Donald Trump's eldest son Eric Trump announced that meme coin issuer World Liberty Financial (WLFI) plans to purchase a substantial amount of TRUMP tokens to stabilize market sentiment, but the market reaction was subdued. Some have pointed out that this is 'not a good sign.'
Meanwhile, on the 6th, President Trump shared a Newsmax article related to the TRUMP token on the social media platform Truth Social. According to the article, the Trump token is becoming a tool for tracking the president's achievements—a means of measuring President Trump's political performance and momentum.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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