Ethereum

TRUMP

Spot

<ul>
 <li>A whale sold 103,759 TRUMP tokens for $867K, retaining 386K TRUMP worth $3M, marking a 1,463% gain.</li>
 <li>Spot On Chain reveals the whale divided sales into seven transactions to optimize profits and reduce market impact.</li>
 <li>Santiment reports rising interest in ETH and DJT due to SEC’s Ethereum investigation closure and Martin Shkreli’s involvement.</li>
</ul>
 Amid the ongoing controversy surrounding <a href="https://cryptonewsland.com/trumps-33m-crypto-portfolio-drops-to-21m-overnight-due-to-volatile-market-conditions/" rel="noopener noreferrer nofollow">Trump-themed memecoins</a>, a cryptocurrency whale has sold a substantial amount of TRUMP tokens for significant profit. The whale offloaded 103,759 TRUMP tokens, valued at approximately $867,000, within the past 24 hours.
Whale’s Historical Involvement
<a href="https://spotonchain.com/en" rel="noopener noreferrer nofollow">Spot On Chain</a>, an AI-driven cryptocurrency analytics platform, has detailed the transaction. The platform reports that the whale initially acquired 495,000 TRUMP tokens with 250,000 USDT on January 19, 2024.&nbsp;
Following the recent sell-off, the whale retains 386,000 TRUMP tokens, worth around $3 million. The analytics platform estimates the whale’s total profit from this series of transactions at approximately $3.66 million, representing a 1,463% gain.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Amid the recent <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Trump</a>-themed memecoins controversy, a whale decided to sell 103,759 <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$TRUMP</a> ($867K) in the past 24 hours for profits! The whale bought 495K <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$TRUMP</a> with only 250K <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDT</a> on Jan 19, And now has 386K <a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$TRUMP</a> ($3M) left. The est. total profit is $3.66M (+1,463%)!… <a href="https://t.co/QYll4Uyjjc" rel="noopener noreferrer nofollow">pic.twitter.com/QYll4Uyjjc</a>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1803672334752161892?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 20, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
Multiple Transactions Strategy
The analytics provided by Spot On Chain reveal that the whale did not execute a single large sale but instead divided the sell-off into seven separate transactions over 24 hours.&nbsp;
This approach likely aimed to minimize market impact and capitalize on fluctuating prices. The varied prices at which the coins were sold contributed to the estimated profit calculation provided by Spot On Chain.
Market Reactions and Other Developments
In related market news, <a href="https://santiment.net/" rel="noopener noreferrer nofollow">Santiment</a>, a market intelligence platform known for onchain and social metrics, has identified rising trader interest in certain cryptocurrencies.&nbsp;
The platform notes that the SEC’s closure of its investigation into Ethereum and Pantera Capital’s announcement to purchase $100 million worth of Ethereum have ignited significant interest in ETH among traders.
Santiment also highlighted a surge in interest in the newly created Trump-themed memecoin, DJT. The platform attributes this <a href="https://cryptonewsland.com/creator-of-djt-token-unmasked-martin-shkreli-confirms-identity-amidst-arkham-bounty-reveal/" rel="noopener noreferrer nofollow">rise to Martin Shkreli’s claim</a> of co-creating the Donald J. Trump token.&nbsp;
Shkreli’s involvement has drawn considerable attention to the memecoin, further influencing market dynamics.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> The coins seeing the largest rise in trader interest right now are: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f44d.png" alt="👍" class="wp-smiley" style="height: 1em; max-height: 1em;"> Ethereum: SEC ending Ethereum investigation, Pantera Capital's plan to purchase $100 million worth of Ethereum <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Donald J. Trump: Martin Shkreli admitting to co-creating the token with Barron Trump <a href="https://t.co/38OgDTRNki" rel="noopener noreferrer nofollow">pic.twitter.com/38OgDTRNki</a>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1803578756780662839?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 20, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
The recent whale transaction involving TRUMP tokens shows the volatility and profit potential in the memecoin market. As the controversy around <a href="https://cryptonewsland.com/top-3-trump-inspired-meme-coins-forecasted-for-a-100x-growth-in-june-2024-discover-strump-babytrump-and-trump/" rel="noopener noreferrer nofollow">Trump-themed memecoins</a> continues, these developments reflect broader trends and trader behaviors in the cryptocurrency ecosystem.&nbsp;
Spot On Chain and Santiment’s insights provide a insights into these dynamics, highlighting the connection between major market events and individual trading strategies.
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/creator-of-djt-token-unmasked-martin-shkreli-confirms-identity-amidst-arkham-bounty-reveal/" rel="noopener noreferrer nofollow">Creator of DJT Token Unmasked, Martin Shkreli Confirms Identity Amidst Arkham Bounty Reveal</a></li>
 <li><a href="https://cryptonewsland.com/arkham-offers-150k-bounty-to-unmask-djt-token-creator-amid-speculation-of-trump-involvement/" rel="noopener noreferrer nofollow">Arkham Offers $150K Bounty to Unmask DJT Token Creator Amid Speculation of Trump Involvement</a></li>
 <li><a href="https://cryptonewsland.com/solana-memecoin-djt-token-drops-31-amid-speculation-over-trumps-involvement/" rel="noopener noreferrer nofollow">Solana Memecoin DJT Token Drops 31% Amid Speculation Over Trump’s Involvement</a></li>
 <li><a href="https://cryptonewsland.com/new-trump-meme-coin-maga-skyrockets-20000-amid-ongoing-controversy/" rel="noopener noreferrer nofollow">New Trump Meme Coin (MAGA) Skyrockets 20,000% Amid Ongoing Controversy</a></li>
 <li><a href="https://cryptonewsland.com/from-skeptic-to-believer-trump-holds-500k-in-ethereum/" rel="noopener noreferrer nofollow">From Skeptic to Believer: Trump Holds $500K in Ethereum</a></li>
</ul>
The post <a href="https://cryptonewsland.com/trump-popularity-shines-as-major-whale-offloads-trump-tokens-nets-1463-gain/" rel="noopener noreferrer nofollow">Trump Popularity Shines as Major Whale Offloads TRUMP Tokens, Nets 1,463% Gain</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Trump Popularity Shines as Major Whale Offloads TRUMP Tokens, Nets 1,463% Gain

Crypto News Land

Weitere Artikel, die am 20. Juni 2024 veröffentlicht wurden

Deutsche Telekom Expands Crypto Ventures with Bitcoin Mining Project

Will Toncoin Rally Continue as TON Blockchain Hits New Records?

BTC & ETH ETFs: A Step Backwards for Decentralization?

Bitcoin Experiences Volatility After Rapid Rise

JasmyCoin Price Prediction: JASMY Is Biggest Loser With 5% Slump As This New P2E DOGE ICO Nears $...

Nimble Network and Marlin Protocol Form Strategic Alliance

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!