Within the lead-up to the November 2024 U.S. presidential election, Republican nominee Donald Trump’s crypto holdings have seen a powerful surge in value.
In accordance with Arkham, a crypto intelligence platform, Trump’s crypto property have elevated by $6.1 million for the reason that starting of the 12 months.
Donald Trump is up $6.1M USD on his crypto holdings for the reason that begin of this 12 months.
Over 65% of his present holdings are MEMECOINS. pic.twitter.com/ssJJqgY2sV
— Arkham (@ArkhamIntel) October 17, 2024
His portfolio, at present valued at $7.71 million, reveals a shift in his monetary pursuits at a time when he even launched his personal challenge, particularly contemplating his previous skepticism in direction of crypto. Apparently, over 65% of his present holdings encompass memecoins.
Trump’s Crypto Portfolio
Trump’s crypto portfolio features a various vary of property, with memecoins making up the bulk. His largest asset, MAGA (TRUMP), holds a price of $3.12 million, a rise of $191,170 within the final 24 hours.
Different main property embrace Ethereum (ETH), valued at $1.29 million, and Wrapped ETH (WETH), value $1.25 million. Each Ethereum-based tokens have seen minor losses, with ETH and WETH down by $9,280 and $9,860 over the previous 24 hours.
Moreover, Trump’s portfolio options substantial holdings in memecoins reminiscent of TROG, valued at $959,170, and GUA, value $433,650. Smaller property embrace the FIGHT token, valued at $144,050, and USD Coin (USDC), a stablecoin with a stability of $137,808.
Trump’s Rising Engagement
Arkham’s information reveals that Trump’s handle has obtained $3.01 million, all via Coinbase, with deposit exercise spiking after September 2023 and stabilizing in early 2024.
Nevertheless, his withdrawal exercise has been minimal, totaling simply $160.08. These withdrawals had been distributed throughout 4 exchanges, with MEXC dealing with 86% of the overall. The disparity between Trump’s deposits and withdrawals signifies a robust inclination in direction of holding, moderately than liquidation.
Crypto Leaders Donate Tens of millions
Including to the stir, the political motion committee (PAC) supporting Donald Trump’s presidential marketing campaign, Trump 47, has obtained $7.5 million value of cryptocurrency donations.
A submitting with the Federal Election Fee revealed that contributions for the third quarter of 2024 had been made in varied cryptocurrencies, together with Bitcoin (BTC), XRP, and stablecoins like USDC and Tether (USDT). Notably, the most important donations got here from Bitcoin, with crypto executives contributing round $5.5 million in complete.
A number of distinguished figures within the crypto house had been among the many contributors, together with David Bailey of BTC Inc., who donated $500,000. Gary Cardone contributed $840,000, whereas Mike Belshe, CEO of BitGo, and Bruce Fenton of Chainstone Labs, donated $100,000 and $60,000, respectively.
