TRUMP Coin: Chainalysis Report Reveals That Over 77% Of Holders See Minimal Gains

According to blockchain analytics firm Chainalysis, most wallets holding the Official Trump (TRUMP) coin have recorded minimal gains, with over 77% earning less than $100 in profits.

The firm revealed that retail investors were the major holders of this coin.

TRUMP and MELANIA Holders Are Mostly Retail Investors

Data from Chainalysis showed that more than 600,000 wallets belong to small-time investors, signaling the popularity of this coin among them. Over 80% of TRUMP and MELANIA holders on the Solana network are worth less than $1,000.

Chainalysis further noted that sixty whales profited more than $10 million each. Moreover, about half of the total holders of the MELANIA and TRUMP coins are new in the Solana ecosystem. Almost 50% of these wallets were created on the same day they purchased these tokens.

The analysis also showed that after the coins were minted, four wallets hold most of the 1 billion TRUMP meme coins supply or provide liquidity to exchanges, indicating sparse supply circulation. The analysis indicates that meme coins like TRUMP could be a novelty, but they can still attract new participants to the blockchain ecosystem.

Approximately 40 whales holding more than $10 million in TRUMP and MELANIA tokens account for 94% of these coins’ total circulating supply.

Price Trends

The price of the TRUMP coin has been erratic. At the time of writing, it was trading at $35.04, a 50% drop from its peak of $72.62 on January 19.

Its current market cap of $6.99 billion also indicates a 50% drop from a peak of $14.5 billion recorded on the same day it reached its all-time high price. Like the TRUMP coin, the MELANIA coin trades at $2.81, a 78.5% decrease from its peak price of $13.05, which it achieved on Jan. 20.

According to data from Nansen, many TRUMP coin whales have sold a majority, if not all, of their holdings, taking profits when the coin rose to its peak value.