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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
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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

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