By Nermeen Nabil Khear 
President Donald Trump’s memecoin has reportedly generated more than $802 million since its debut, according to Coinbase director Conor Grogan.
Grogan pointed out that the project’s team has funneled over $482 million worth of USDC, SOL, and TRUMP tokens to exchanges.
Meanwhile, $240 million in USDC sits in out-of-range liquidity, with an additional $50 million actively in range. Transaction fees alone have brought in over $29.3 million in USDC.
Grogan suggested that the profit margin might be significantly higher as the project team still retains a substantial $16 billion worth of TRUMP tokens and because:
“Not counting Trump LP meteora fees or wallets I’m less sure of.”
Grogan’s estimates do not include Melania Trump’s meme token launch.
This revelation highlights how profitable the President Trump token launch was. According to CryptoSlate’s data, the token’s value quickly spiked to a new all-time high of $75.35 following its introduction on Jan. 18.
However, it has been on a downward trend in recent days amid the broader crypto market volatility. The token has shed about 18% of its value during the past day to under $20, and its weekly losses now exceed 30%. The token is down 76% from its peak.
The post Trump’s memecoin rakes in $802 million yet suffers 76% drop from peak appeared first on CryptoSlate.
President Donald Trump’s memecoin has reportedly generated more than $802 million since its debut, according to Coinbase director Conor Grogan. Grogan pointed out that the project’s team has funneled over $482 million worth of USDC, SOL, and TRUMP tokens to exchanges. Meanwhile, $240 million in USDC sits in out-of-range liquidity, with an additional $50 million
The post Trump’s memecoin rakes in $802 million yet suffers 76% drop from peak appeared first on CryptoSlate.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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