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"Trump Meme Coin, A Barometer for Presidential Support?... About 700 Billion Won to be Unlocked Next Month"
概要
- It was reported that TRUMP tokens worth $520 million will be unlocked next month.
- Eric Trump announced plans to purchase TRUMP tokens, but the market reaction was muted.
- It was stated that the TRUMP token is becoming a means to measure President Trump's political achievements and momentum.
The official meme coin of U.S. President Donald Trump, OfficialTrump (TRUMP), is set to undergo a major token unlock worth $520 million (approximately ₩707.9 billion) next month.
According to the cryptocurrency-focused media Cointelegraph on the 7th (local time), the Trump meme coin will see a large-scale token unlock on the 18th of next month. According to the on-chain data analytics firm Tokenomist, 50 million TRUMP tokens (about $520 million), accounting for 25% of TRUMP in circulation, will be released to the market next month.
Earlier that day, Eric Trump, the eldest son of President Trump, stated that World Liberty Financial (WLFI), the issuer of the meme coin, plans to buy a substantial amount of TRUMP tokens to help stabilize market sentiment; however, the market response was muted. Some pointed out that this was 'not a good sign.'
Meanwhile, on the 6th, President Trump shared a Newsmax article about TRUMP tokens on the social media platform Truth Social. According to the article, the Trump token is becoming a tool for tracking the president’s performance, i.e., a means of measuring President Trump’s political achievements and momentum.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
