Donald Trump’s Wallet Erases $3M Deficit as MAGA Coin Resurges

Analyzing the Crypto Trump phenomenon: How Did Donald’s wallet turn a deficit into prosperity?

Donald Trump Celebrating his coins going up in the green.
Created by Kornelija Poderskytė from DailyCoin
  • Donald Trump-encrusted MAGA memecoin soared by 33.3% over the past seven days.
  • Trump’s crypto wallet rebounds after suffering a $3M unrealized loss in early April.
  • A revamped version of Trump Cards with Ordinals imposes a one-year trading limit.

Donald Trump is well-known in the cryptosphere for several interesting ventures. Last December, the controversial entrepreneur and former President of the United States cashed out $2.5 million from the revenue of non-fungible token (NFT) collections. This year, the impact of a memecoin resurgence has been reflected in Trump’s wallet.

Trump-embossed MAGA Coin’s Rollercoaster Ride

Introduced in one of Donald’s “major announcements,” Trump Cards skyrocketed to 0.675 Ether (ETH) on February 13, 2023, converting to $2,398 per single card. Since then, the relaunched Trump NFT series, appropriately known as TRUMP, has not garnered as much attention as the initial digital collectible offering.

Sponsored

However, the memecoin-led Spring rally brought the later TRUMP tokens to a new all-time high of $11.63 on March 4, 2024, and Donald’s on-chain address soared to a net worth of $8.6 million.

Since the milestone, the TRUMP coin has backtracked to just $3.63 on March 31, distancing itself from the all-time peak by 48.3%. The memecoin is not yet listed by any major centralized cryptocurrency exchange (CEX), except for MEXC and BitMart.

Crypto Meltdown Lightens Donald’s On-Chain Wallet

Digging deeper into the former president’s cryptocurrency wallet, DailyCoin has estimated that most of his digital funds are memecoins. MAGA is the largest asset in the wallet’s holdings list, with 579.29K tokens, now worth $3.49M.

Sponsored

The wallet also contains lesser-known memecoins, such as CONAN, BABYTRUMP, STRUMP, DOG, and MOG. Interestingly, Trump holds 6.9M Pepe (PEPE) and lesser-known alternate versions of the frog-themed token, such as PEPEAI.

Donald Trump's portfolio.

According to the blockchain detective agency Arkham Intelligence, Donald Trump’s crypto net worth is now approaching $7 million again.

On the Flipside

  • January’s 2024 Trump Cards: Mugshot NFT Edition NFT collection imposes unconventional limits for non-fungible tokens, limiting how holders can interact with their digital property.
  • To illustrate, neither the Bitcoin Ordinals nor the Trump Cards on Ether can be tradable until December 2024, which is intended to restrict the “investment vehicle” appeal of these collectibles.

Why This Matters

Celebrities joining the cryptosphere are instrumental in bolstering worldwide blockchain adoption.

Discover DailyCoin’s top crypto news:
Bitcoin Pioneer El Salvador Is Offering 5,000 Free Passports
Crypto Exchanges Confront Public Scrutiny: Nexo Leads Way

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.