40 million $TRUMP tokens are about to flood the market
The coins are worth about $320 million at current prices.
Forty million $TRUMP tokens worth about $320 million at current prices are set to flood the market on Thursday, according to vesting analytics platform Tokenomist.
The upcoming unlock, allocated to Trump Organization affiliate CIC Digital LLC, makes up 20% of the current circulating supply and more than 75% of the meme coin’s total 24-hour trading volume, data pulled from CoinGecko shows.
Akin to the vesting schedules of a traditional firm’s shares, token unlocks permit the gradual release of cryptocurrencies and aim to restrict founding team members or investors from immediately selling en masse during the early stages of a token’s life cycle.
Token unlocks are typically a bearish signal, corresponding to a price decline given the increase in the cryptocurrency’s supply.
$TRUMP is trading at $7.93 as of 12:45 p.m. ET, an 84% drawdown in the past three months. The event is the meme coin’s first major unlocking since it first rolled out in January, three days before President Trump’s inauguration, as industry crypto leaders were in attendance at the Crypto Ball in Washington, DC.
The meme coin boasts a market capitalization of nearly $1.6 billion, making it the fourth-largest meme coin behind dogecoin, shiba inu, and pepe. These four meme coins collectively form roughly 72% of the entire meme coin market cap, which sits at $49.2 billion.
On-chain data shows a decrease in $TRUMP holders
On the eve of Trump’s inauguration, $TRUMP had nearly 820,000 on-chain holders, but as of Tuesday, the number has dropped 22% to 635,565 holders. Crypto exchanges Binance, OKX, and Bybit are among the top 10 in terms of $TRUMP holdings, per a Dune analytics dashboard.
The vast majority of addresses holding $TRUMP have accumulated the memecoin over the past 60 to 90 days, with only a small percentage of wallets scooping up the cryptocurrency in the last 30 days, per blockchain analytics firm Nansen.
On the first day of its launch, 200 million $TRUMP tokens were available, and by January 2028, the token’s circulating supply will reach 1 billion as a result of staggered unlocks.
$TRUMP is one of several cryptocurrencies undergoing token unlocks this week. Tokenomist data shows the entire crypto market is facing a weekly total unlock value exceeding $1 billion.
Sage D. Young is a crypto journalist who’s written for CoinDesk and Unchained.
