Donald Trump, the former president of the US, temporarily exceeded $10 million in on-chain crypto asset ownership on Monday due to his largest coin, TRUMP.
The blockchain intelligence company Arkham revealed on May 27 that Donald Trump, a potential presidential candidate, has more than $10 million in crypto holdings.
TRUMP, the MAGA meme coin, jumped to an all-time high of $13.24 on May 27, which sparked the rise to a seven-figure portfolio.
According to Arkham, Donald Trump possesses 579,290 TRUMP tokens, which have a value of around $6.79 million.
Due to Donald Trump’s support of crypto, meme coin has increased in value by 53% in the last week.
He stated on May 25:
“I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry.”
The Trump 2024 campaign opened a crypto donation site on May 21.
But according to CoinGecko, TRUMP prices have dropped 8.8% since that peak, reaching $12.04 at the time of writing.
As a result, the entire portfolio has dropped to $9.5 million as the crypto markets fell in the first hour of May 28 trading.
Established in August, MAGA aims to safeguard children and provide aid to US soldiers. Despite having the name of the previous president, it is not formally connected to or supported by Donald Trump.
Since MAGA’s introduction, 234.75 ETH have been contributed to support US soldiers. 204.5 ETH have been donated to prevent child trafficking, according to the official website.
Moreover, Donald Trump has a sizeable Ether ETH of $3,863 tickers down at the time of writing, a bag containing 464.2 ETH, valued at almost $1.79 million.
A million MVP tokens, or roughly $473,000, are also in his possession. MVP is a meme coin that facilitates payments to the Trump campaign and offers incentives. It peaked on May 17 at $0.709. But since then, it has dropped 33% to trade at $0.477 as of this writing.
