Allegations of selling the TRUMP token, believed to be linked to US President Donald Trump, increased downward pressure on the market. According to on-chain analysis, a significant amount of token movement occurred from addresses alleged to belong to the Trump team.
According to the data, it is estimated that the Trump team sold over $16.06 million worth of TRUMP tokens in total. Analysis shows that in the last two hours, 5.48 million TRUMP tokens were deposited into the OKX exchange from a BitGo escrow address. This represents approximately a $15 million token transfer.
Upon investigation of the funds’ source, it was determined that these assets originated approximately two months ago from an address associated with team shares known as the “Trump Team Allocation.” It is stated that this address transferred 18.14 million tokens to the exchange at that time, an amount worth approximately $81.64 million.
These market developments appear to have put pressure on the TRUMP token price. The token is currently trading at $2.86, having lost 9.4% of its value on a weekly basis. With a market capitalization of approximately $666.7 million, the token has also shown a downward trend in the last 24 hours.
*This is not investment advice.
