A major crypto whale has made headlines after withdrawing a substantial 229,694 $TRUMP tokens, valued at approximately $3.38 million, from leading exchanges Binance and Bybit.
According to data from Onchain Lens monitoring, these withdrawals signal a strategic move, potentially anticipating a bullish trend or aiming to hold the tokens off-exchange for better security and control.
Such significant withdrawal activity often hints at strong market sentiment, as whales typically move assets off exchanges when they intend to hold rather than sell immediately.
Total Withdrawals Over Two Days Top $5.66M in $TRUMP Tokens
The whale’s activity over the past two days has been particularly aggressive. In total, they withdrew 413,530 $TRUMP tokens, which are currently valued at $5.66 million.
The two-day spree underscores the whale’s deep confidence in the $TRUMP token’s potential future performance.
Large-scale accumulation by influential investors often leads to increased market interest and can signal upcoming price movements.
Analysts are closely monitoring this behavior, as such actions can have ripple effects across the trading community and influence broader investor sentiment.
Also Read: Trump and Allies Earned $900,000 in $TRUMP Token Fees In 2 Days: Report
Whale Secures a Floating Profit of $427,000 Amid Price Movement
Despite the large sums involved, the whale has already realized a floating profit of $427,000 on these withdrawals, according to Onchain Lens data.
A floating profit means the gain is based on the current market price without the tokens having been sold yet.
The impressive profit margin within such a short timeframe suggests the whale’s entry points were strategically timed during lower price periods.
It also highlights the volatile nature of the $TRUMP token, where rapid price swings can create significant profit opportunities for savvy investors.
Official Trump ($TRUMP) Price Sees Strong Momentum and Growth
The price of Official Trump (TRUMP) has been on a remarkable upward trajectory, now sitting at $15.85 per token.
Over the past 24 hours alone, TRUMP has posted an impressive 23.18% gain, while over the last week, it has surged by a staggering 89.95%.
The token’s meteoric rise has been accompanied by a massive 24-hour trading volume of $2.81 billion, reflecting heightened investor interest and heavy market activity.
With a circulating supply of 200 million tokens, TRUMP now boasts a significant market capitalization of over $3.15 billion, solidifying its position among the top trending assets in the crypto market.