U.S. president Donald Trump SolanaThe first token will be released soon, and the team of this project should receive approximately 40 millions Official Trump Next Friday, (TRUMP).
According to Crypto Analytics Platform, based on TRUMP’s current value, approximately $320,000,000 worth of tokens are expected to hit the market by April 18. Tokenomist. The project will unlock around 4 million dollars worth of TRUMP per day from that moment on until its next release event, which is scheduled for July.
How will this unlocking affect the price of President’s official cryptocurrency?
Sidney Powell of DeFi lender Maple Finance, the co-founder, CEO and founder, said that people would be more willing to sell as TRUMP’s circulating stock increased by 20 percent.
He said Decrypt On Friday, I said that token unlocks were typically negative because they have a negative impact on an asset’s scarcity and require more demand in order to maintain current prices.
Powell explained that while the amount of TRUMP tokens released is not uncommon, investors may be hesitant to purchase it as they try to understand Trump’s 36 month unlock plan. This will see TRUMP’s supply increase gradually from only 200 million at launch, up until 1 billion TRUMP.
Powell, in reference to the instantaneous unlocks, said that “if you saw a larger cliff you would be more concerned.” But, it’s obvious that once the tokens begin to unlock, people will start selling.
The meme coin of the president has its own unique base. TRUMP was initially a magnet for crypto beginners, as many wallets bought TRUMP to be their first altcoin, on Solana. Data sharing Chainalysis, a blockchain analytics company, launched the service in January. Many in the crypto community saw this launch as an event that would attract mainstream users.
“They'll be less experienced, so those holders might not drive sell pressure,” Powell added.
TRUMP changed hands on Friday for around $8.13, a rise of 3.7% over the previous day. CoinGecko. Even if the price rises today, this represents a drop of nearly 89% from TRUMP’s record high for the asset at $73.43, reached just two days after it was launched on January 17.
You can use the president’s coin to Purchase goods at Trump-linked venues like GetTrumpWatches.com, GetTrumpFragrances.com, and GetTrumpSneakers.com. Since the TRUMP’s peak, 191,000 wallets sold it, and less than 13,000 held more than $1,000, according to data from on-chain. Dune dashboard.
The currency of meme coins is based on nothing more than emotions. Short shelf-life. Matthew Nay is a research analyst for the cryptocurrency analytics website Messari. Decrypt.
Nay explained that venture capitalists sometimes promote tokens ahead of their unlocking event in the hope of reducing any associated pressure to sell. Follow Past promotions He added that Trump, in theory, could pull off a similar move on social media.
“I’m not expecting there to be a classic token unlocking pump,” said he. “Hopefully, the president has other things on his mind that he's worrying about.”
Andrew Hayward edited the book
