Donald Trump’s cryptocurrency holdings exceed $10 million, significantly influenced by the TRUMP memecoin.
Ethereum ETF Impact Could Propel ETH to Record Highs

According to recent updates by CNF On-Chain Data Analysis, Donald Trump’s cryptocurrency holdings have notably exceeded $10 million. This surge is primarily attributed to the TRUMP memecoin, which now constitutes $7.1 million of his portfolio.

This memecoin, inspired by Trump himself, has seen a staggering increase of 17,200%, showcasing a 129% rise in just the last 30 days and achieving a market cap of over half a billion dollars.

Trump’s Crypto Strategy and Market Influence

As detailed further in a CNF YouTube discussion presented in this article, Trump holds additional crypto assets, including $1.83 million in Ethereum and various smaller altcoins. These are often received as part of promotional efforts. Launched last year, TRUMP has not only soared in value but has also become a significant part of Trump’s pro-crypto stance.

He has committed to opposing the Biden Administration’s restrictive crypto policies, advocating for self-custody rights, and accepting cryptocurrency for campaign donations. Trump’s vision is clear: to anchor the future of cryptocurrency in the U.S. and shield it from stringent regulations, particularly against a potential central bank digital currency.

Can ETH ETF Propel Prices to New ATH?

Another recent post by CNF highlighted that Donald Trump will accept Ethereum, among other cryptocurrencies, for presidential rally donations. This move not only underscores the growing acceptance of cryptocurrencies in political campaigns but also signals potential market shifts.

Given this backdrop, the prospect of an Ethereum ETF becomes even more compelling, potentially driving ETH prices to new all-time highs. Currently, Ethereum trades at $3,883.37, experiencing a slight decline of 0.80% over the past day, yet it has surged by 5.46% over the past week. See the price chart below.

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Filed under: Bitcoin - @ May 28, 2024 11:25 am