• Mon. Jun 24th, 2024

Donald Trump Reportedly Liquidating Part of His Ethereum Collection

Xavier Jackson

ByXavier Jackson

Dec 28, 2023

Donald Trump, the former President of the United States, has reportedly begun liquidating a portion of his Ethereum holdings. Recent activities from addresses associated with Trump indicate that he is offloading some of his Ethereum (ETH) stash. 

Trump’s Strategic Sell-Off

Donald Trump is popularly known for his involvement in the digital currency sphere, with a particular affinity for Ethereum. This involvement has recently taken a new turn, as reported by Arkham Intelligence, a provider of crypto intelligence services.

The report indicates that Trump has been channeling his Ethereum holdings to Coinbase Exchange for liquidation.

The process of moving Ethereum to Coinbase for selling purposes began roughly three weeks ago, as noted by Arkham Intelligence.

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This action follows a period during which Trump amassed significant amounts of Ethereum, primarily through royalties from the various Non-Fungible Token (NFT) collections he has launched.

Analyzing Trump’s Ethereum Liquidation

Arkham Intelligence has uncovered that Donald Trump has recently sold a substantial amount of Ethereum, totaling 1,075 ETH, valued at approximately $2.4 million. This figure suggests an average selling price of about $2,232.56 per Ethereum unit.

However, without the documented purchase prices at the time of royalty accumulation, calculating the exact profit margin from these sales remains elusive.

Further review by Arkham Intelligence of the deposits to Coinbase reveals that the funds originated from various wallet addresses. This indicates that the former President utilized multiple accounts for his NFT Collections.

Among these transactions, the largest single deposit to Coinbase involved 200 ETH, with an estimated value of around $446,511.63, based on the previously mentioned average Ethereum price.

These Ethereum sales by Trump are not directly linked to his ongoing political campaign but coincide with a notable surge in the cryptocurrency’s market value.

Over the past month, Ethereum has experienced a significant increase, rising by over 17%, thereby presenting a favorable scenario for liquidation.

Donald Trump’s Latest Foray into NFTs: The “Mugshot Edition”

The former President of the United States, Donald Trump, has become a notable figure in the digital currency world, particularly through his releases of various NFT (Non-Fungible Token) collections.

His latest NFT venture, the “Mugshot Edition,” has garnered significant attention for its unique concept and associated benefits.

This new collection draws its inspiration from an event earlier in August involving Trump’s arrest, with the NFTs featuring a mugshot of the former President.

The “Mugshot Edition” has piqued the interest of collectors not only for its unique theme but also for the exclusive perks it offers. Owners of these NFTs are promised two distinctive rewards: an invitation to a state dinner at Trump’s Mar-a-Lago resort in Florida, and a piece of the suit worn by Trump on the day of his arrest.

This innovative approach to NFTs blends real-world experiences and memorabilia with digital collectibles, adding a new dimension to the appeal of NFTs in the crypto market.

Xavier Jackson

Xavier Jackson

Xavier Jackson is a talented and versatile news writer with a knack for delivering compelling stories. With a dedication to accurate reporting and a captivating writing style, his articles provide readers with insightful and thought-provoking perspectives on current events.

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