President Donald Trump’s memecoin, TRUMP, has seen a significant surge in popularity and value since its launch in mid-January. According to Coinbase director Conor Grogan, the memecoin has already generated over $800 million in income, making it the 40th-largest crypto asset by market cap.
Grogan recently shared on social media platform X that the TRUMP project team has sent $482 million worth of USDC, Solana (SOL), and TRUMP to exchanges. Additionally, they hold $240 million of USDC in out-of-range liquidity, $50 million in range, and have made $29.3 million in USDC fees. Notably, the team still holds $16 billion worth of TRUMP.
TRUMP is currently trading at $19.28, showing a 12.5% increase in the past 24 hours but a 36% decrease in the past seven days. The memecoin’s performance has been volatile but continues to attract attention in the crypto market.
Despite the success of TRUMP, Grogan acknowledges that the team may not have sold all the crypto sent to exchanges. He also mentions that he has been conservative in his estimations and has not included additional fees and wallets in his calculations.
With the memecoin market experiencing rapid growth and fluctuation, TRUMP’s rise to prominence highlights the potential for innovative projects to capture the interest of investors and enthusiasts alike.
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