President Donald Trump’s memecoin has reportedly generated greater than $802 million since its debut, in keeping with Coinbase director Conor Grogan.
Grogan identified that the challenge’s crew has funneled over $482 million value of USDC, SOL, and TRUMP tokens to exchanges.
In the meantime, $240 million in USDC sits in out-of-range liquidity, with an extra $50 million actively in vary. Transaction charges alone have introduced in over $29.3 million in USDC.
Grogan urged that the revenue margin could be considerably larger because the challenge crew nonetheless retains a considerable $16 billion value of TRUMP tokens and since:
“Not counting Trump LP meteora charges or wallets I’m much less positive of.”
Grogan’s estimates don’t embody Melania Trump’s meme token launch.
This revelation highlights how worthwhile the President Trump token launch was. In keeping with CryptoSlate’s knowledge, the token’s worth rapidly spiked to a brand new all-time excessive of $75.35 following its introduction on Jan. 18.
Nonetheless, it has been on a downward development in current days amid the broader crypto market volatility. The token has shed about 18% of its worth through the previous day to beneath $20, and its weekly losses now exceed 30%. The token is down 76% from its peak.
