A “Trump Dump” that’s getting people talking. Former US President Donald Trump has reportedly sold several million dollars worth of ETH, according to data shared by Arkham Intelligence. Why is he dumping his cryptocurrencies
Donald Trump is selling some of the Ether (ETH) he has accumulated
For months, Donald Trump had been accumulating royalties from sales of non-fungible tokens (NFT) bearing his likeness. But it seems he feels the time has come to sell. According to Arkham Intelligence, the ex-President has parted with $2.4 million worth of Ether (ETH), the cryptocurrency of the Ethereum network.
Looks like Donald Trump is selling his ETH.
3 weeks ago he started sending ETH to Coinbase after months of accumulating Trump NFT royalties. His peak balance was $4 million.
Based on the deposits, so far he’s sold 1,075 ETH for $2.4 million. pic.twitter.com/JZzA3cS2je
– Arkham (@ArkhamIntel) December 27, 2023
Three weeks ago, Donald Trump launched a third collection of NFTs, based on his mugshot. But so far, sales have been less than satisfactory. Less than half the collection has been minted, and floor prices for previous collections have fallen sharply. It seems that the ex-president’s NFTs have fallen out of favor
One of Donald Trump’s NFT collections
Donald Trump’s cryptocurrencies
Donald Trump has for months been offering NFT collections that present him as America’s hero, in cartoonish postures. This is how he has accumulated ETH, but not only. According to Arkham Intelligence, after this series of sales, the politician still holds a total of $2.2 million in cryptocurrencies.
The analysis firm counts $1.4 million in ETH, $649,000 in WETH and $167,000 in the MAGA cryptocurrency, which is based on his slogan: Make America Great Again. Perhaps more surprisingly, Donald Trump also holds $340 in PEPE, and $145 in JESUS.
In any case, Donald Trump’s massive sales seem noteworthy, at a time when the majority of the market agrees in predicting a future rise. It has to be said that the ex-President could be in need of funds: he recently claimed that he owes $100 million in legal fees, following the numerous legal charges he is facing. He remains, however, a candidate in the 2024 US presidential election.
