Deposits to Coinbase near $100 million in a month: is the United States President’s signature coin doomed?
The meticulous on-chain sleuths at LookOnChain notified the community of rising outflows in regards to Official Trump Coin (TRUMP). PolitFi’s leading crypto currency has seen gradual cash-outs by TRUMP coin’s core team, accounting for $94 million over the past 30 days.
These multiple transfers done by converting Official Trump coins to Circle USD (USDC) paint a picture of continuous profit-taking. According to Chinese crypto researcher Ember, the method the team uses is addition of single-sided liquidity to the relevant pairs on Meteora. The dev team carried out a similar strategy on Melania’s meme coin, the research concluded.
M’s Of Swapped TRUMP Coins End Up On Coinbase
The popular decentralized exchange (DEX) on Solana received an order to sell these Trump coins within the set meme coin price range. This was later sent to an entity known as Fireblocks, while eventually landing on crypto wallets belonging to Coinbase. Just like before, the sell-off took a toll on TRUMP coin’s price.
In addition to the secret TRUMP coin liquidity pool, there’s an open token unlock schedule that’s pouring millions of TRUMP coins into the markets every week. Presently, there’s roughly $24 million waiting in queue to unlock gradually until January 5, 2026.
The meme coin is trading at $4.93, just a fraction from the $73 all-time peak hit a day into Donald Trump’s inauguration into the Oval Office. Despite sometimes bursting out in trading volume, the political satire meme coin lacks utility, for which creative efforts are being made.
A Wyoming-registered company by the name of Freedom 45 Games LLC is working on the Trump Billionaires Game, employing TRUMP coin on mobile devices. A take on the classic Monopoly, the game promises a $1 million TRUMP coin prize pool.
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