In-depth study of TRUMP on-chain data: the arena for big players to compete

Author | PANEWS Frank On January 18, before taking office, US President Trump issued his personal MEME token TRUMP (OFFICIAL TRUMP), creating the first personal cryptocurrency issued by a US president in history. After the TRUMP token was issued, it not only caused a huge sensation in public opinion, but also triggered a crazy market sentiment for the token. Within just 2 days, the market value of the TRUMP token reached a peak of $82 billion (FDV), soaring from the issue price of $0.1824 to a high of $82, an increase of about 450 times. Many quick players made a lot of money, while more people watched with sighs at the persistently high prices. analyzed the first purchase time, purchase price, and divestment time of the top 1,000 holders of the TRUMP token, and interpreted the capital game behind this presidential token from the data. The average investment of the top holders is $590,000 As of the afternoon of January 20, the number of holding addresses for the TRUMP token on the chain has exceeded 853,000, and the total number of holders, including those on centralized exchanges, should be no less than 1 million. The top 1,000 addresses hold a total of 78.12 million tokens, accounting for about 39% of the total circulation (excluding the main exchange addresses). The total holding value of these top holders is about $4.68 billion. In terms of holding cost, these top holders spent a total of about $428 million on their initial purchases, buying about 15.91 million tokens, with an average cost of about $26.9. As of the afternoon of January 20, the average gain of these top holders is about 123%. On the surface, these big players have realized substantial profits, once again writing the legend of getting rich in the MEME track. However, from the average initial investment amount of these addresses, the current top 1,000 addresses are indeed big spenders, with an average initial investment of about $591,000. This amount is vastly different from other MEMEs. Nearly 40% of the top holders have a cost price below $15 From the overall distribution of the purchase cost of these top holders, the cost price range with the most purchases is around $3.1, within half an hour after the token was issued. The next most is the range of $5-10. Addresses with an initial purchase cost below $15 account for about 38.8% of the total sample analyzed. In addition, the addresses with an initial purchase price between $45 and $65 are the most, accounting for about 28%. Overall, the first batch of tokens purchased by these top holders accounts for 44% of their total holdings, and 7.7% of the top holders chose to make a one-time large purchase. In addition, nearly 10% of the top holders invested more than $1 million at the first time of purchase. This is very different from traditional MEME coins. However, the initial purchase cost of these super-large holders is not low either, with an average cost of about $46, and they basically bought in on the 19th. This part of the top holders may represent the investment logic of the main force. Even facing a token issued by the US president, they still leave 1 day for decision-making and analysis, and enter the market at a price that most people consider not low. In terms of selling price, the price range with the most initial sales is between $65-70, with 17.8% of the addresses selling in this price range for the first time. The next is the $40-50 range. Overall, the top addresses spent a total of about $428 million on their initial purchases, and the total amount of their initial sales was about $1.06 billion, with an overall initial sales profit of 2.47 times. In addition, about 28% of the addresses have not sold after buying, and the average holding cost of these top holder addresses is $23.45, with an initial total purchase amount of about $67 million. The strongest address invested millions within 1 minute of issuance The strongest main force is the address 6QSc2CxSdkUQSXttkceR9yMuxMf36L75fS8624wJ9tXv, which spent $1.09 million to buy 5.97 million tokens at 10:01 am on January 18, with a purchase price of about $0.1835, which is almost the same as the opening price. Subsequently, this address distributed the tokens to multiple addresses for distribution. Calculated at the highest price of $82, the token value of this address could reach $477 million. According to incomplete statistics, this address and its associated addresses have sold more than $20 million worth of tokens. According to discussions on social media, this address is believed to be an internal address of Jupiter, as it has previously targeted tokens such as GRIFT, CHILLGUY, and MOODENG. From the trading behavior, even if this user was able to make a decision and bet $1.09 million within 1 minute after learning that Trump had issued a token, it is difficult to believe that this was a coincidence or just operational capability. In addition, the TRUMP token was created around 10 am on the 17th, and did not start trading until a day later. Is it possible that some people with prior knowledge prepared to buy in advance? A game of capital strength and speed Overall, compared to the development history of other MEME coins, the real advantage of TRUMP is not its amazing price increase. In the data of the top holders, we also rarely see cases of small capital investments achieving exaggerated returns. From the investment amounts shared by the KOLs who have obtained relatively large gains, their investment capital is also not small. It can be said that on the TRUMP token, what seems to be a once-in-a-lifetime opportunity is not actually a big chance for the 10U warriors. Compared to the previous tokens that increased tens of thousands of times, the 450-fold increase of TRUMP is not considered high. The reason why TRUMP has triggered a nationwide FOMO sentiment is that on the one hand, the token's peak market value of $82 billion has created an exaggerated effect of price increase for the outside world. On the other hand, some early buyers, the KOLs, have publicly shown off their gains, making this FOMO sentiment even stronger. After all, compared to the previous need to rely on analysis and various insider information to barely hit a large MC memecoin, TRUMP is openly issued, and at this time, it seems that the competition is more about speed and capital. As members of the Trump family have participated in the issuance of MEME coins and the early profit-taking has fled, on January 20, the TRUMP token once fell to $30, a correction of more than 60%. This violent fluctuation proves that even a MEME coin issued by the president cannot avoid high volatility. From the perspective of chip distribution, the TRUMP coin has become a market for the top holders to compete, rather than the next gold mine that can change one's destiny.