According to Chainalysis, massive crypto investors, often dubbed “whales,” have dominated ownership of the Trump family’s token assets.
The firm disclosed that 94% of the TRUMP and MELANIA tokens are centralized within 40 wallets, with each wallet boasting holdings exceeding $10 million.
Essentially, this blockchain analytics company highlights that these memecoins related to the former US president and first lady are mostly in the hands of 40 wealthy crypto whales, each with $10 million invested in these tokens.
In a Jan. 22 X post, Chainalysis explained that crypto whales dominate 94% of the total token supply for both Donald Trump’s TRUMP token and Melania’s MELANIA token.
Chainalysis reports that 2.1% of investors have holdings between $1 million and $10 million in either cryptocurrency, while 1.7% have investments ranging from $100,000 to $1 million.
Meanwhile, about 2.2% of those owning TRUMP and MELANIA tokens possess values under $100,000.
As per DexScreener, TRUMP coin is held by 790,000 wallets, and MELANIA by 343,000. Despite the dominance of large-scale investors, Chainalysis noted that the introduction of the Trump family’s memecoins drew in a significant number of new crypto enthusiasts, with nearly half of them setting up wallets on the same day they acquired the tokens.
The teams behind TRUMP and MELANIA state that their allocation strategy aligns with common practices in the token space.
Read also: 2024 illicit crypto volumes to reach $51B: Chainalysis
Bubblemaps commented in a Jan. 22 post on Platform X that the on-chain data for Melania tokens doesn’t match the allocations shared on the website.
MELANIA’s website shows they allocated 35% of tokens to their team, 20% to the Treasury and community, 15% to the public, and 10% for liquidity.
After the token launch, Bubblemaps revealed that about 90% of the total Melania token supply was held in one wallet.
While the majority of Trump token holders made less than $100, Chainalysis reported that 60 prominent holders amassed over $10 million.
Most Trump investors haven’t lost more than $10,000; only a few faced losses between $10,000 and $100,000, and almost no one lost more than $100,000.
