The Official Trump (TRUMP) token is preparing for its first unlock set for April 17. This event is expected to have a significant impact on the market.
First Token Unlock of TRUMP
TRUMP is set for its first token unlock after April 17. During this time, 40 million tokens worth $330 million will be released to the market. These tokens belong to one of the largest wallets, holding 39% of the total supply. Currently, the token has dropped from $8.47 to $7.99, significantly reducing value for holders even as only 20% of the supply is unlocked.
Market and Trader Behavior
TRUMP represents one of the biggest token launches for this week, acting as a test for the market as interest in altcoins has waned. In recent days, trading volumes have increased, surpassing $500 million. However, many traders have exited derivative markets to avoid potential volatility. Open interest has fallen to $200.03 million, while the long/short ratio suggests risk-averse behavior among traders.
Whale Selling of TRUMP Tokens
Despite optimistic expectations from some social media accounts, large players have begun divesting their assets. One major trader, referred to as a 'whale', has already realized more than $29 million in profit while continuing to place sell orders for TRUMP. High-velocity activity between wallets raises questions regarding further price movements and potential pumps created by market makers.
The first token unlock of TRUMP will significantly impact the market, and observers will closely monitor traders' reactions. Potential volatility may also lead to shifts in strategy among large investors.
