3.5 Million TRUMP Tokens On The Move—Trump Team Makes A Big Play

A wallet connected to the TRUMP token recently transferred 3.5 million tokens, worth roughly $52.66 million, to major exchanges. This significant movement, according to Lookonchain, involved allocations to Binance, OKX, Bybit, and Coinbase. The distribution might be for trading purposes or potentially for selling the tokens. A market maker, Cumberland DRW, also moved $4.4 million worth of TRUMP tokens to OKX around the same time. This activity, combined with earlier deposits, totaled over $24 million worth of TRUMP tokens entering exchanges recently. Observers noted the timing, which preceded a high-profile political event on May 22. The actions have sparked concerns of a potential exit strategy among large token holders. Simultaneously, a wallet linked to World Liberty Financial purchased significant amounts of Ethereum and wrapped Bitcoin. This purchase adds to the hype surrounding the TRUMP token due to the association with a political figure. Despite the large token transfers, the TRUMP token has increased in price in the last 24 hours, though it remains below a recent high. The token's market cap is near $2.85 billion with a 24-hour volume of almost $2.77 billion. Traders are closely monitoring exchange order books and social media for further large transfers, anticipating rapid price changes. The TRUMP token's price appears to be heavily influenced by the actions of its largest holders and the timing of their trades.