President Donald Trump’s memecoin has reportedly generated greater than $802 million since its debut, in accordance with Coinbase director Conor Grogan.
Grogan identified that the challenge’s group 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 recommended that the revenue margin is perhaps considerably increased because the challenge group nonetheless retains a considerable $16 billion value of TRUMP tokens and since:
“Not counting Trump LP meteora charges or wallets I’m much less certain 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 accordance with CryptoSlate’s information, the token’s worth rapidly spiked to a brand new all-time excessive of $75.35 following its introduction on Jan. 18.
Nevertheless, it has been on a downward pattern in latest days amid the broader crypto market volatility. The token has shed about 18% of its worth throughout the previous day to underneath $20, and its weekly losses now exceed 30%. The token is down 76% from its peak.