US President Donald Trump and his cronies have already made tens of billions of {dollars} (at the least on paper) prior to now three days from the official TRUMP and MELANIA tokens launched on Solana.
Now buying and selling at $42, TRUMP has grown to an $8.8 billion market capitalization, making it the twenty fifth largest coin in the whole crypto ecosystem, behind some CoinDesk 20 cash reminiscent of polkadot (DOT) and litecoin (LTC). behind (CoinDesk 20 is an index of the highest 20 cryptocurrencies by market cap, together with memecoins, stablecoins and change cash).
Melania, for its half, has grown to a $945 million market cap, putting it within the 121st place amongst token tasks.
On-chain knowledge reveals that the TRUMP Treasury pockets at the moment holds $35.5 billion in tokens, along with $17.5 billion in different meme cash named after members of the Trump household, together with Eric Trump and Kai Trump. The official Trump launch pockets has $622 million in tokens and about $162 billion in different cash, together with one other $147 billion meme coin named after Vice President J.D. Vance. Not like Trump, Vance hasn’t hinted on social media that he is launching a meme coin.
The Trump crew has positioned Melania in a distinct setting. About 77% of the token provide is held in three completely different wallets, two of that are labeled as belonging to the Melania crew with a fourth pockets on Solskin, holding 3.7% of the availability. Assuming all 4 wallets belong to the Melania crew, the Trump household is value $4.8 billion in tokens.
Importantly, two of those wallets — Melania Treasury and Melania Liquidity on Solskin — which between them personal 33.7% of the Melania provide, every maintain $295 billion value of VANCE tokens. Actually, 25% of the VANCE token provide is between these two MELANIA wallets and the TRUMP launch pockets.
Counting solely the official Trump and Melania meme cash, the Trump crew may have about $40.9 billion on-chain. But when we embrace all the opposite cash in these wallets, the quantity jumps to round $810 billion.
And contemplating that the MELANIA and TRUMP wallets have a considerable amount of VANCE token provide, it’s possible that they’re operated by the identical entity that launched VANCE within the first place. If that’s the case, it is value noting that VANCE at the moment has about $1.5 trillion value of memecoins in its coffers. For reference, the whole market cap of Bitcoin (BTC) is hovering round $2 trillion. The delegation might be value round $2.3 trillion, at the least on paper.
After all, that does not imply Trump’s crew will have the ability to pull off that a lot. That is numerous paper wealth. These wallets personal a considerable amount of the availability of every token, so if Trump’s crew begins taking earnings, the promoting strain will disrupt the market. It can’t elevate $35.5 billion from a coin with a market capitalization of $8.8 billion, and the identical issues apply to the MELANIA and VANCE tokens.
Moreover, the official Trump and Melania meme tasks have vesting schedules – that means holders can’t promote their tokens every time they need. The Trump crew must wait at the least three months to begin promoting, and even then, they are going to solely have the ability to slowly revenue a number of cash at a time. The Melania Meme Challenge, in the meantime, will start unlocking in lower than 30 days.
