The $TRUMP cryptocurrency has created a small group of winners and a vast sea of losers, with new data showing approximately 764,000 wallets have lost money on the controversial token, according to blockchain analytics firm Chainalysis as reported by CNBC.
While 58 wallets have each earned over $10 million in profits, most have watched their investments decline in value. Chainalysis reports that most wallets suffering losses hold relatively small amounts of the token. These retail investors typically lack the technical expertise or market connections to time their entries and exits effectively.
The token surged to a market cap of $2.7 billion at its peak following promotional posts from President Trump on Truth Social and X, but subsequently retreated to $2.17 billion, leaving late buyers underwater.
Related: Asset Managers Rush to Launch Trump Crypto ETFs
Despite the widespread losses, the token continues to attract new investors, with approximately 100,000 new wallets purchasing $TRUMP since mid-April. This ongoing interest persists even as lawmakers investigate potential conflicts of interest surrounding the token, which reportedly directs 75% of revenue from a related crypto venture to the Trump family.
The distribution structure has raised additional concerns among ethics watchdogs, with 80% of the token supply reportedly controlled by entities connected to the Trump Organization under a three-year vesting schedule, while $324 million in trading fees have already been routed to project creators through code embedded in the token’s transactions.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
