Whale Sells $407K TRUMP, Loses $1.37M in Exit – Crypto News – Crypto News
Connect with us
Whale Sells $407K TRUMP, Loses $1.37M in Exit Whale Sells $407K TRUMP, Loses $1.37M in Exit

Cryptocurrency

Whale Sells $407K TRUMP, Loses $1.37M in Exit – Crypto News

Published

12 months ago

on

TL;DR

  • Whale sells $3.96M in TRUMP tokens at a loss as Bitcoin hits $123K and altcoins rise.
  • TRUMP trades near $9.80 with tightening Bollinger Bands and early signs of bullish momentum.
  • Founders to unlock $880M in TRUMP tokens on July 18, raising supply concerns among traders.

Whale Wallet Takes Major Loss on TRUMP Sale

A large wallet identified as CrUYR1 has sold 407,427 TRUMP tokens, valued at $3.96 million. According to Lookonchain, the wallet had purchased the coins five months ago and exited the position with a loss of approximately $1.37 million.

Meanwhile, this move comes during a period of price recovery for TRUMP. The token was trading at $9.80 at press time, showing a 13% gain over the past week. 

Nonetheless, the asset is still much lower than the ATH of $73.43, which is nearly an 87% decrease. This upward movement of the token is accompanied by a new ATH of Bitcoin (BTC) to $123,000, which has brought gains to most altcoins.

Technical Indicators Show Tight Price Range

Looking at the chart, TRUMP has been consolidating within a narrow price range of $8 to $10. Bollinger Bands have tightened, with the upper band at $9.94 and the lower band at $8.16, reflecting reduced volatility in recent sessions.

Source: TradingView

The price is close to its upper band and above the 20-day moving average at $9.05. The MACD line has also advanced above the signal and zero lines, indicating positive short-term momentum. However, a confirmed trend change has yet to occur.

Token Unlock Set for July 18 Raises Market Questions

Tokenomics data from Tokenomist shows that TRUMP’s founding team is scheduled to unlock 90 million tokens on July 18. This is nearly 45% of the total circulating supply and is worth $880 million.

TRUMP tokens unlock
Source: Tokenomist

The unlock is part of a broader wave of insider token releases in the altcoin market, which is expected to exceed $1.1 billion this week. These scheduled unlocks may introduce additional selling pressure unless demand increases.

The TRUMP token will soon be supported on the Tron blockchain. Tron DAO confirmed the move, which could bring the token into a wider network and potentially increase its use across platforms.

Major exchanges such as Coinbase were swift to list the token early this year. While Coinbase typically conducts extended reviews, the listing process for TRUMP was completed in one day.

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Related Topics:
Continue Reading

Trending