KEY POINTS
- TROG tokens lead the pack with over $14 million, followed by some $7.31 million in TRUMP coins
- The wallet also has more than 470 Ether and over $1.44 million worth of WETH
- Before Trump's hush money guilty conviction, the wallet held some $10 million worth of crypto
The Ether (ETH) and memecoin holdings of a wallet linked to ex-president Donald Trump have passed $26 million, marking a significant jump from the wallet's holdings just before his guilty conviction in a hush money case.
According to data from leading blockchain analytics firm Arkham Intelligence, the wallet now holds over $26.1 million worth of Ether and various memecoins, including various Trump-themed tokens.
The wallet's top token holdings are Trog (TROG) with over 210 billion coins worth some $14.44 million, and the MAGA (TRUMP) with more than 576,000 tokens worth around $7.31 million.
The wallet also holds some 472 Ether worth over $1.82 million, and some $1.44 million in Wrapped Ether (WETH). There are also over $400,000 worth of Maga VP (MVP) coins, $206,000 in Conan (CONAN), and more than $200,000 in BABYTRUMP and Elon (ELON) coins.
Prominent memecoin trader James Wynn said Wednesday that he sent $169,420 worth of ELON coins or over 2 billion of the memecoin to Trump. "Goats recognize goats," he wrote in the announcement, along with a link to the on-chain transaction.
I have just sent Donald J. Trump $169,420 worth of $ELON tokens (2,100,000,000) effectively making it his 2nd largest holding.
— James Wynn 👑🐐 (@JamesWynnReal) June 4, 2024
Goats recognise goats 🤝 🤝
https://t.co/zz53CWrqwJ
Arkham previously noted that the developer team behind TROG airdropped half of the memecoin's total supply to the Trump wallet. "With this much supply, it is unlikely that Trump would be able to sell it for market value, if he even knew it existed," the on-chain analytics firm said.
Just less than two weeks ago, before the business mogul was found guilty on all counts in his hush money trial, the wallet held more than $10 million in ETH and memecoins. The latest figures indicate that the Trump-linked wallet has more than doubled even after the Republican presidential candidate's conviction.
The significant jump in the wallet's holdings comes as Trump continues to express support for the cryptocurrency sector. He used to be a major critic of Bitcoin, the world's largest digital asset by market value, and said at one point that the token "seems like a scam."
However, he has since changed his views on the digital assets sector, at least based on his latest statements and promises that was taken positively by market participants.
Late last month, Trump told libertarians that he supports crypto users' "right to self-custody" of their digital assets, promising that he will keep Sen. Elizabeth Warren, D-Mass., away from the American public's Bitcoins.
He also hosted nonfungible token (NFT) users at his Mar-a-Lago estate earlier in May, telling them he will stop the "hostility" of the U.S. government toward the crypto sector.
