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Trader Manages to Earn $22 Million Trading Official Trump Token

Trader Manages to Earn $22 Million Trading Official Trump Token

HappyCoinNewsHappyCoinNews2025/01/28 13:22
By:HappyCoinNews

In early January 2025, US President Donald Trump released his own cryptocurrency, Official Trump (TRUMP).

The token’s price soared immediately after its launch, entering the top 20 projects by market capitalization. On January 19, the coin reached an all-time high of $73,43, the day before Trump’s inauguration. Since then, the crypto asset has fallen by almost 65% from its peak.

TRUMP is currently in negative territory 11,2% on the daily chart and minus 50,8% compared to the previous week. This drop is not only due to the bearish sentiment that hangs over the cryptocurrency market.

CoinGecko Data

The latest cryptocurrency market decline is likely due to macroeconomic conditions. The US dollar is gaining momentum, and investors are moving their funds into safer assets. In addition, Donald Trump has made little mention of cryptocurrencies since taking office, disappointing both traders and investors.

According to the LookOnChain analytics platform, one trader named "traderpow" still managed to make $22,7 million on Official Trump (TRUMP). He bought 1,03 million TRUMP coins when the asset was trading at $1,79 and sold them when the coin rose to $23,84. Thus, his profit reached $22,7 million.

Despite the profit, the trader suffered big losses later. He bought 309 TRUMP coins for $514 million when the asset was trading at $16,7. According to LookOnChain, this cost him $53,93 million.

Official Trump (TRUMP) may still gain momentum in the coming weeks, given that macroeconomic concerns will sooner or later fade into the background. If inflation in the US declines, the Federal Reserve may introduce interest rate cuts. This will improve sentiment in the crypto market.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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