Published on mei 29, 2024, 12:33 am
Image source: Fox News
```json { "TLDR": "The MAGA memecoin surge boosted former President Trump's cryptocurrency holdings to over $10 million, primarily driven by TRUMP tokens. Despite an initial increase in portfolio value, Trump's crypto assets declined to $9.5 million amidst a broader market downturn. Additionally, beyond TRUMP investments, Trump also holds Ether and MVP tokens. Ronin Blockchain gained notoriety for engaging users through bots and airdrops." } ```
The Altcoin market saw a notable surge as the MAGA memecoin hit an all-time high on May 27, significantly boosting former President Donald Trump’s cryptocurrency holdings. Trump’s on-chain crypto assets briefly exceeded $10 million, driven primarily by his substantial investment in TRUMP tokens.
Reports from blockchain intelligence firm Arkham revealed that Trump’s crypto portfolio crossed the $10 million mark due to the surge in the MAGA memecoin, TRUMP, which reached a record value of $13.24 on that day. Holding 579,290 TRUMP tokens valued at approximately $6.79 million, Trump has witnessed a remarkable 53% increase in his portfolio following his recent endorsements of cryptocurrencies.
Expressing his enthusiasm for the cryptocurrency industry, Trump stated on May 25 that he is optimistic about cryptocurrency companies and all related developments. The Trump 2024 campaign even set up a fundraising page on May 21 to accept crypto donations. However, TRUMP prices experienced an 8.8% decline post-peak, dropping to $12.04 as per current data from CoinGecko.
Subsequently, Trump’s overall portfolio decreased to $9.5 million amidst the broader downturn seen in crypto markets during early trading on May 28. Despite bearing Trump’s name and launching with a philanthropic agenda aimed at supporting U.S. veterans and child protection initiatives since its inception in August last year, MAGA remains unaffiliated with or endorsed by the former president.
According to official sources, MAGA has donated 234.75 ETH to U.S. veterans and 204.5 ETH towards preventing child trafficking since its launch date. Moreover, beyond his TRUMP investments, Trump also holds significant amounts of Ether (ETH) equivalent to around $1.79 million along with a million MVP tokens valued at approximately $473,000.
MVP tokens operate similarly to TRUMP in terms of providing rewards and backing donations for the Trump election campaign but have faced a slight setback recently after hitting an all-time high of $0.709 on May 17; it currently trades at $0.477 as markets fluctuate.
In other news related to altcoins and cryptocurrency projects like Ronin Blockchain garnering attention for daily users through bots and airdrops as reported by Not Pixels magazine.
Original article posted by Fox News
