Former President Donald Trump’s foray into the world of cryptocurrency has been crammed with each triumph and turbulence. Current experiences point out that Trump has made thousands and thousands from his crypto investments, however elevated volatility within the crypto markets has taken a toll on his portfolio.
Trump’s crypto windfall
It began when Trump’s identify, picture and likeness had been utilized in a non-fungible token (NFT) undertaking referred to as Trump Digital Buying and selling Playing cards. These distinctive digital collectibles, which value $99 every, rapidly gained reputation, promoting a whopping 45,000 models as of December 2022.
Since then, Trump has acquired royalties on buying and selling volumes, amassing greater than 1,800 Ethereum (ETH) and Wrapped Ethereum (WETH) tokens, based on information from Arkham Intelligence.
Trump's crypto portfolio. Supply: Arkham Intelligence
Surprising crypto journey
Because the crypto panorama continued to evolve, Trump’s crypto journey took an unexpected flip. In the summertime of 2023, Trump acquired a major variety of MAGA Coin (TRUMP) tokens, a meme coin created in his honor.
Complete crypto market cap at $2.5 trillion on the each day chart: TradingView.com
On the time, the almost 580,000 TRUMP tokens had been price only some thousand {dollars}. Nevertheless, TRUMP’s worth skyrocketed when Trump carried out properly within the primaries and secured the Republican nomination. This enhance in worth pushed Trump’s portfolio to new heights, with the MAGA Coin alone accounting for almost all of his crypto holdings price $8.5 million.
Missed alternatives and decline in worth
Regardless of the preliminary success of his crypto investments, Trump’s portfolio has lately confronted challenges as the value of MAGA Coin and ETH fell considerably. The worth of TRUMP reached its peak on March 4, reaching a powerful $11.56 per token. Nevertheless, since then the coin has suffered a pointy decline and is at the moment buying and selling round $4, marking a decline of 61% prior to now month.
MAGA value motion within the final week. Supply: CoinMarketCap
MAGA loses 60% of its worth
Since MAGA’s highs in early March, the value has fallen considerably. On March 4, the token reached a excessive of $11.56, however it’s at the moment buying and selling at round $5.93. The latest 60% value drop has had a dangerous impact on Trump’s cryptocurrency holdings.
The crypto market downturn has had a major affect on Trump’s crypto investments, which have fallen to $5.3 million, a drop of over $3 million. The missed alternative to promote its tokens in the course of the peak in early March additional exacerbated the decline in worth.
Featured picture from Pixabay, chart from TradingView
