Recently, the development team associated with the memecoin related to former US President Donald Trump transferred 3.5 million tokens to the cryptocurrency exchange Binance. This transaction has garnered interest among the cryptocurrency market participants.
Transfer of Tokens to Binance
According to on-chain data, the TRUMP developers transferred 3.5 million tokens, which currently is valued at $32.8 million. This occurred just minutes before the announcement.
Total Volume and Token Information
Since April 28, the TRUMP memecoin has been transferred in four batches totaling 12.54 million tokens worth approximately $150.68 million. Moreover, approximately $7.3 billion worth of altcoins, presumed to belong to the developers, are held on exchanges, with most being TRUMP tokens. Currently, about 200 million tokens are in circulation out of the total supply of 1 billion.
Current Market Valuation of TRUMP Memecoin
At present, the market value of the TRUMP memecoin is around $1.8 billion. Notably, during its peak, this valuation exceeded $9 billion. The remaining tokens largely remain locked in developer wallets and will be introduced to circulation over time.
The significant transfer of tokens to Binance highlights ongoing activities surrounding the TRUMP memecoin. While tokens continue to circulate, questions about the value and future of this token remain open.
