Two Whales Accumulate $5.6M in TRUMP Tokens in Two Days

Two whale-sized wallets accumulated a combined $5.6 million worth of TRUMP tokens over the past 48 hours, executing large withdrawals from centralized exchanges Bybit and Binance. The transactions suggest a coordinated accumulation of the politically-themed token.

On-chain data shows two addresses, identified as 8DHkza and 7EtuAt, are the recipients of the large token movements. "The scale of these withdrawals indicates a strong conviction from these market participants," said a crypto analyst. "Moving millions off exchanges typically signals an intent to hold, reducing the immediately available supply."

The withdrawals were split between the two major exchanges, with approximately $3 million in TRUMP tokens leaving Bybit and another $2.6 million withdrawn from Binance, according to on-chain transaction records. These movements happened in a series of large transactions between approximately 10:00 UTC on June 18 and 18:00 UTC on June 19.

This large-scale accumulation by whale accounts is often interpreted by the market as a bullish signal. By reducing the supply of TRUMP on exchanges, the move could lead to increased price volatility and attract further speculative interest from retail investors, potentially driving the token's value higher ahead of upcoming political events.

On-Chain Activity

The two whale addresses now collectively hold a significant portion of the TRUMP token's circulating supply. Address 8DHkza added approximately 200,000 TRUMP, while 7EtuAt accumulated around 185,000 TRUMP. The token, which runs on the Ethereum blockchain, has seen its trading volume increase by 30% in the last 24 hours, according to data from CoinGecko.

This article is for informational purposes only and does not constitute investment advice.