According to crypto onchain data, a crypto whale on the Solana network purchased $26 million worth of Official Trump (TRUMP) tokens at an average price of $23.81.
Currently, this crypto whale has made a total profit of $8.2 million.
However, there is a problem. Because the same crypto whale also bought the MELANIA memecoin launched by US President Donald Trump. The whale, who paid $ 22 million for his investment in total, completed his purchase at an average of $ 10.5 and according to the data at the time of writing, MELANIA lost $ 10 million in total from the investment. In the purchases made through decentralized cryptocurrency exchanges on the Solana network, the funds were transferred from the CryptoCom exchange, which is widely used in the US.
As it turns out, although the TRUMP memecoin has made waves in the cryptocurrency world, memecoins are generally high-risk assets and often cause traders to lose money.
However, there was another interesting development regarding the TRUMP token today. REX, a company working in the ETF field, has applied for a spot ETF for the TRUMP token. TRUMP’s official website claims that the token is not a security, but it seems unlikely that an official ETF will be launched in the US for such a product.
*This is not investment advice.
Read the full article here
