Trump’s involvement in cryptocurrencies brought him success and challenges in equal measure. Latest news discloses substantial profits he made from crypto transactions. However, the erratic swings in the value of digital currencies negatively impacted Trump’s holdings.
Trump’s Crypto Windfall
The NFT project named Trump Digital Trading Cards took off in December 2022, using Trump’s name, picture, and likeness. These exclusive digital collectibles were sold at $99 a piece and astonishingly reached sales of 45,000 units.
After that point, Trump has been earning royalties based on trading activity, amassing approximately 1,800 Ethereum (ETH) and Wrapped Ethereum (WETH) tokens, according to information from Arkham Intelligence.
Unexpected Crypto Journey
During the ever-changing cryptocurrency world, Trump’s experience with digital coins took an unexpected twist. In the scorching summer of 2023, Trump received a substantial amount of MAGA Coin (TRUMP) tokens, a humorous crypto creation inspired by him.
During that period, approximately 580,000 TRUMP tokens held little value, equivalent to just a few thousand dollars. Yet, as Trump excelled in primary elections and clinched the Republican nomination, the worth of TRUMP tokens soared. This unexpected increase in value significantly boosted Trump’s crypto holdings, with MAGA Coin being the major contributor to his $8.5 million fortune.
Missed Opportunities And Value Decline
Trump’s crypto investments, including MAGA Coin and Ethereum (ETH), have encountered difficulties in recent times. The price of MAGA Coin and ETH both took a nose dive, leading to a setback for Trump’s portfolio. The value of TRUMP reached a high of $11.56 per token on March 4, but since then, the coin has plummeted by approximately 61% over the past month, and is now trading around $4.
MAGA Loses 60% Of Its Value
Starting from mid-March, MAGA’s value has dropped noticeably. On the 4th of March, the token reached its peak at $11.56. However, its current price hovers around $5.93, representing a 60% decrease in value. This substantial price drop has negatively impacted Trump’s crypto investments.
The slumping crypto market significantly affected Trump’s crypto holdings, now valued at $5.3 million – a decrease of approximately $3 million compared to earlier. Regrettably, he failed to cash out his digital tokens during their peak in early March, which worsened the loss in value.
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2024-04-09 15:41