Republican candidate and former US President Donald Trump saw his on-chain cryptocurrency holdings exceed $10 million, largely driven by his largest token investment in MAGA (TRUMP). On May 29, Trump's crypto portfolio briefly touched seven figures, according to blockchain intelligence firm Arkham.
The surge in value was primarily attributed to the MAGA memecoin, TRUMP, which achieved an all-time high of $15.44 on May 29. The recent surge in TRUMP's value can be attributed to Donald Trump's endorsements of cryptocurrencies. On May 25, he expressed a positive and open-minded stance towards cryptocurrency companies and the industry as a whole. In line with this, the Trump 2024 campaign launched a fundraising page on May 21 to accept crypto donations.
According to Arkham, Trump currently holds 579,290 TRUMP tokens, equivalent to approximately $8.56 million. However, the value of TRUMP has declined since reaching its peak. It is currently trading at $14.7.
In addition to his TRUMP holdings, Donald Trump also possesses a significant amount of Ethereum (ETH), with 464.2 ETH valued at approximately $1.79 million. Furthermore, he holds a million MVP tokens, worth around $473,000. MVP is another memecoin that offers rewards and supports donations to the Trump election campaign. After reaching an all-time high of $0.709 on May 17, it has since experienced a 33% decline, currently trading at $0.477.