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Donald Trump’s Crypto Wallet Hits $10 Million, Led by MAGA Tokens

Story Highlights
  • A crypto wallet linked to former President Donald Trump has reached a value of $10 million, primarily driven by 579,300 MAGA tokens.

  • Trump's financial disclosures from August 2023 revealed his substantial crypto holdings, including $5 million in ETH and $4.9 million from his NFT collection.

  • Trumpโ€™s recent speech indicated a shift in his stance on cryptocurrencies.

A crypto wallet associated with former President Donald Trump has soared in value to $10 million, according to blockchain data tracker Arkham Intelligence. This wallet holds 579,300 MAGA tokens, identified by the ticker TRUMP, which have recently increased in value.

The rise in value, along with other assets in the wallet, has boosted its total worth significantly. These tokens were initially acquired using wrapped ether on the decentralized exchange Uniswap, highlighting Trumpโ€™s growing involvement in digital currencies.

What next for this ‘crypto candidate’? Read on.

Breakdown of the Wallet’s Assets

The impressive value of the wallet is mainly due to the MAGA tokens, worth $7.12 million. Additionally, the wallet holds 463.441 ETH, valued at $1.84 million, and one million MAGA VP (MVP) tokens, worth $509,000. Despite a recent drop in MVP value, the walletโ€™s overall performance remains strong, helped by an 8.3% increase in MAGA tokensโ€™ price in the last day.

The walletโ€™s current value of around $10 million highlights the crypto marketโ€™s volatility and potential.

Trump and Crypto: What’s the Connect?

Trumpโ€™s link to the crypto wallet was established through his financial disclosures from August 2023. At that time, he held around $5 million in ETH and earned $4.9 million in royalties from his Trump Digital Trading Card NFT collection. His status as a โ€œcrypto whaleโ€ was further confirmed by significant transactions, including selling $2.4 million in ETH in December 2023.

Opinions Take a 180-Turn

Trumpโ€™s speech at the 2024 Libertarian National Convention showcased his changing views on cryptocurrencies. He supported self-custody rights and opposed Central Bank digital currencies, marking a shift from his earlier skepticism. His comments highlight the growing role of politics in the world of digital currencies.

Also Check Out: Lark Davisโ€™s Bitcoin and Ethereum Price Prediction: Altcoins Rally with Record ETF Inflows

Trump’s dive into the crypto market is a testament to its increasing influence. We’re excited for the future – are you?

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