The altcoin launched by US President Donald Trump's team experienced a massive sell-off
The TRUMP token team, linked to Donald Trump, has reportedly transferred hundreds of millions of dollars worth of tokens to centralized cryptocurrency exchanges over the past eight months
According to data shared by the on-chain data tracking platform Ember, a total of 81.87 million TRUMP tokens were transferred from wallets belonging to the TRUMP token team in the last eight months. These tokens were sent to centralized cryptocurrency exchanges such as Binance and OKX, with an average price of approximately $3.04 during the transfers
At the time of writing, TRUMP is trading at $2.05
Based on these figures, the total value of TRUMP tokens transferred to exchanges reaches approximately $249 million
However, it appears the team still holds a significant amount of tokens. The team reportedly owns 80% of the TRUMP token supply, or 800 million tokens, and has so far transferred approximately 8.2% of the total supply to exchanges
According to the data, the team currently holds approximately 718 million TRUMP tokens in their wallets. This amount represents 71.8% of the total token supply and is worth approximately $1.49 billion at current prices
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