Scythe harvesting? After the inauguration, Trump's "stock and cryptocurrency plummet," while the winners have already cashed out
Holders of Trump Coin have seen returns of nearly 19,000%, with a position value of $270,000. One investor holding over $52 million in Trump Coin once sold off their entire position, achieving a return of 91%
On the second day of Donald Trump's inauguration as the 47th President of the United States, related concept assets plummeted significantly. The stock price of Truth Social's parent company, Trump Media & Tech Group (TMTG), fell 11% on Tuesday, while the so-called "Trump Coin" crashed over 40% from its peak.
"Trump Coin" reached a historical high of $75.35 after its launch, while the MeMe Coin launched by Trump's wife Melania also peaked at $13.73 on the same day. Despite the significant declines for both on Tuesday, early investors who bought in and sold near the peak still made considerable profits.
Early data from analysis firm Nansen showed that as of noon on Monday, many of the largest Trump Coin holders (those who invested over $20 million) were selling off their Trump Coins and taking profits. Among them, one investor who held over $52 million worth of Trump Coins sold off their entire position, achieving a 91% return on investment.
Among the 15 largest holders, about 33% had completely exited their positions by noon on Monday. The remaining holders sold off most of their holdings, but with smaller positions. An exception was a major shareholder with a $32 million position who had not sold.
According to Nansen's data, investors with returns exceeding 10,000% had varying position sizes, with the smallest being $1,400 and the largest nearly $2.4 million. The highest return holder nearly reached 19,000%, holding a position worth $270,000, and as of noon on Monday, still held 54% of their position.
While some made a fortune, others lost everything. One investor completely exited their position after a 36% loss, losing over $3.5 million, while another wallet was sold off after a 41% loss, resulting in nearly $2 million in losses.
However, when asked on Tuesday afternoon local time, Trump said, “I know very little about it other than that I issued it. I hear it’s very successful, I haven’t looked at it.” Following this statement, Trump Coin briefly plummeted but has since recovered some ground, still accumulating over 20% in the past 24 hours