Developers of Major Memecoin Transfer Their Holdings to Binance: They May Have Sold

The development team associated with US President Donald Trump’s official memecoin TRUMP sent 3.5 million TRUMP tokens worth $32.8 million to crypto exchange Binance minutes ago, according to crypto onchain data.

The data reveals that crypto wallets associated with the development team have sent 12.54 million TRUMP tokens worth a total of approximately $150.68 million to exchanges in four batches since April 28.

According to the data, there are a total of $ 7.3 billion worth of altcoins on cryptocurrency exchanges associated with this memecoin and thought to belong to developers. Almost all of these are TRUMP tokens. Currently, approximately 200 million of the TRUMP tokens with a supply of 1 billion tokens are in circulation. A significant portion of the remaining tokens remain locked in developer wallets, and these tokens will be put into circulation over time.

The current market value of the TRUMP memecoin is around $1.8 billion. At its peak, this market value exceeded $9 billion.

*This is not investment advice.