Benzinga - Though former President Donald Trump is famous for many things, Ethereum trading is not usually something that comes to mind for most. However, Trump dealt in Ethereum in recent months, according to data from Arkham Intelligence. The blockchain analytics company cross-references on-chain transactions with financial filings made by a Donald Trump account to find the former President's wallet address.
In December 2023, Trump sent more than 1,000 Ethereum (ETH) tokens to Coinbase, presumably to sell. At the time, the Ethereum was worth $2.4 million. However, ETH has since performed very well, and the former president may be wishing that he held on for longer.
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If Trump were still holding all 1,075 ETH that he sent to Coinbase, they would be worth more than $4 million, nearly 60% higher than what he sold them for, as ETH reached higher than $3,700 today. By selling in December, Trump could have had $1.6 million more in his portfolio.
Additionally, some expect the price of ETH to continue going up in the near term. The chain is expected to unveil new upgrades soon, which will increase speeds and security while lowering costs. The potential for spot Ethereum ETFs as early as May 2024 could provide another boost for the token.
While Trump may be regretting his sale, the ETH was essentially free for him. He obtained the tokens through an NFT project that used his name, image and likeness and gave Trump royalties.
The project, called Trump Digital Trading Cards, was minted in December 2022 for $99 each. The 45,000 unique NFTs feature photos of Trump in different settings and poses. As of right now, the cheapest NFT is on sale for a little less than $500 (0.14 ETH), and the most expensive sale goes for 37 ETH (worth nearly $150,000 at the time).
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Additionally, the project has generated more than 15,000 ETH in trading volume, which is what has allowed Trump to amass his ETH holding. In total, Trump has received nearly 1,500 ETH from the project.
However, the Trump NFT projects do not stop there. Trump announced the release of another project in late 2023. The project is largely similar to the original project but carries some much more personalized rewards. For example, those who buy more than 47 NFTs, priced at $99 each, will receive a physical piece of the suit Trump was wearing in his infamous Georgia mugshot. Other rewards include autographed cards and even a dinner with Trump himself.
As Trump continues to earn royalties and does well on the campaign trail, it will be interesting to see how he handles his ETH position going into the presidential election in November.
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