- A number of wallets are holding greater than $100m value of Trump and Melanie memecoins
- Round 60 wallets maintain the most important earnings, reaching between $1m and $10m
- 80% of Trump and Melanie holders are traders with lower than $1k value of belongings on Solana
A majority of crypto wallets holding the Trump or Melania memecoins have made little or no cash, suggesting retail shopping for exercise.
That’s in keeping with knowledge from Chainalysis, a blockchain forensics firm. In a publish on X, it checked out traders buying and selling with the Trump and Melania memecoins following their launches forward of President Donald Trump’s inauguration on Monday.
It discovered that 77% of wallets have earned lower than $100; nonetheless, a number of wallets are holding greater than $100 million every. A breakdown of the findings present that over 600,000 wallets breaking even or incomes lower than $100 fall into this share bracket.
A small quantity, roughly 60 wallets, maintain the most important earnings, reaching between $1 million and $10 million.
6/8 By way of 📈earnings, over 77% of wallets that maintain $TRUMP have earned <$100 as of Jan 21, however 60 whales have earned >$10M. It’s nonetheless early days, and that is #notinvestmentadvice pic.twitter.com/5ZFZW1hE3V
— Chainalysis (@chainalysis) January 23, 2025
New retail traders
These investing in these memecoins are stated to be new retail traders, in keeping with Chainalysis.
Having a look on the findings, it stated:
“Additional suggesting retail reputation, over 80% of $TRUMP and/or $MELANIA holders are traders who maintain lower than $1k value of belongings on Solana.”
Moreover, 50% of Trump and Melania token holders have by no means purchased a Solana altcoin, including that “practically half of consumers created their wallets the day they bought the tokens.”
Many, nonetheless, have criticized Trump’s memecoin, arguing that he’s solely doing it to spice up his private fortune. In keeping with billionaire businessman Mark Cuban “it’s only a matter of time till lots of people lose cash from this,” in keeping with a report in The Guardian.
On the time of publishing, the Trump coin is buying and selling at over $37 with a market cap worth at $7.3 billion. When it launched on Friday, January 17, the token peaked at greater than $75 with a market cap worth near $15 billion, in keeping with knowledge from CoinMarketCap.
