Trump Token Team Moves $249M to Exchanges, Triggers 5.8% Price Drop
The Donald Trump (TRUMP) token team has moved 81.87 million TRUMP tokens to centralized exchanges over the past eight months, worth around $249 million at the time of transfer. The tokens were transferred to exchanges such as Binance and OKX at an average price of $3.04.
The large transfers have raised concerns among investors about possible selling pressure, leading to a 5.8% drop in the TRUMP token price over the past 24 hours.
Despite the transfers, the team still controls a large share of the token supply, holding around 718 million TRUMP tokens, or roughly 71.8% of the total supply, worth around $1.49 billion at current prices.
Traders remain concerned about the steady flow of tokens into centralized exchanges, with more than 10.2 million TRUMP tokens per month reportedly being sent to exchanges on average.