Trump, the same was linked to US President Donald Trump, won more than 9% in the past 24 hours after a $ 320 million token unlock. The price is now about $ 8.40, still down more than 88% compared to its summit more than $ 71 on January 18.
Recent unlocking can express other problems for investors, who would have lost a total of $ 2 billion after buying the token earlier this year.
The tokens unlocks generally flood the market with new supplies and tend to reduce prices. But in this case, the market seems to have a price in advance in the press release, potentially explaining the price increase. However, the unlocking of $ 320 million increases the risk of significant sales, in particular given the fine liquidity of Trump.
Coinmarketcap data show that only $ 1.3 million could bring the price of the 2% token on major exchanges. This decision also occurs during the Easter holiday weekend, when trading volumes are moderate and price swings can be more pronounced.
On social networks, rumors swirl on a possible event for major tokens holders, supposedly organized by Trump himself. These affirmations remain not verified and very speculative.
Dune Analytics data show that there are currently 636,000 Trump tokens in chain, with only 12,285 wallets with more than $ 1,000 in the cryptocurrency.
