Investing.com UK - Financial Markets Worldwide
💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Donald Trump's MAGA Coin Stash Just Increased Over $300,000 In Value: Here's How Much His Crypto Portfolio Is Worth

Published 23/02/2024, 16:44
© Reuters. Donald Trump's MAGA Coin Stash Just Increased Over $300,000 In Value: Here's How Much His Crypto Portfolio Is Worth
ETH/USD
-
MATIC/USD
-

Benzinga - Donald Trump’s crypto wallet surged by over $300,000 in value in the past 24 hours, led by a 28% gain of the MAGA Memecoin (CRYPTO: TRUMP).

What Happened: According to data from Arkham Intelligence, Trump's crypto portfolio now stands at $4.4 million, up 7.5% on the day and over $500,000 compared to its value of $3.85 million on Feb. 16, 2024.

This rise is primarily due to the Maga Memecoin surging 28% on the day, as per DEXScreener data.

The top five cryptocurrencies in Trump’s portfolio and their respective values are as follows:

  • TRUMP: Trump holds 579.28K TRUMP tokens valued at $2.32 million, with each coin worth around $4.00 at the time of writing.
  • WETH: Trump possesses 367.94 WETH tokens, worth $1.09 million.
  • Ethereum (CRYPTO: ETH): Trump’s wallet contains 340.531 Ethereum, valued at $ $998.26K.
  • BABYTRUMP: Trump’s holdings include 950K tokens worth $103.61K ($0.11 each token).
  • Polygon (CRYPTO: MATIC): The portfolio also holds 4.918K tokens worth $4.78K, with each token priced at $0.97.

    • Read Also: If You Invested $1,000 In Donald Trump NFTs, Here's How Much You'd Have Today

    Why It Matters: Event and celebrity-affiliated meme cryptocurrencies have garnered immense interest in the crypto market.

    A recent example is an Nvidia memecoin, which gained popularity following the company’s record fourth-quarter earnings.

    Trump's portfolio value has surged by 62.2% over the past month, driven by the bullish sentiment in the crypto market.

    The MAGA Memecoin has seen significant growth since its inception, with social media opinion leaders expecting further gains leading into the upcoming Republican primaries:

    Back in 2019, Trump expressed strong opposition to Bitcoin and other cryptocurrencies. But in a recent interview, the former president acknowledged the growing popularity of Bitcoin, stating, “Frankly, it’s taken a life of its own, you probably have to do some regulation, as you know.”

    In January 2024, he opposed the concept of the U.S. developing its own CBDC.

    Also of note is not only is the TRUMP memecoin experiencing a rally, but the Trump Digital Trading Cards (TRUMP) NFTs have also seen a 6.4% increase in value over the past week.

    Read: Next: Trump Warming Up To Bitcoin? Ex-President Finds Growing Popularity Of Apex Crypto 'Interesting' But Dollar Remains Favorite

    Photo: Shutterstock

    © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

    Read the original article on Benzinga

    Latest comments

    Install Our App
    Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
    Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
    Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
    It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
    Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
    © 2007-2024 - Fusion Media Limited. All Rights Reserved.