Trump's MAGA Coin Takes a Dive: Plummets 60% Amid Crypto Crisis!

Former President Donald Trump's venture into cryptocurrency has been a rollercoaster ride, marked by both success and setbacks. Recent reports indicate that while Trump has profited from his crypto ventures, the heightened volatility in the crypto markets has dealt a blow to his portfolio.

Trump Enters Crypto with Successful NFT Launch: Thousands Sold, Royalties in Ethereum Accumulated

Trump's involvement in cryptocurrency began with the launch of Trump Digital Trading Cards, NFTs priced at $99 each, which garnered significant attention and sold thousands of units in December 2022. Trump received royalties from trading volumes, accumulating over 1,800 Ethereum and Wrapped Ethereum tokens.

Trump's crypto portfolio. Source: Arkham Intelligence

Trump's Crypto Portfolio Surges with MAGA Coin Investment Amid Political Success

In summer 2023, Trump acquired a substantial number of MAGA Coin tokens, initially valued at a few thousand dollars. However, as the value of MAGA Coin surged amid Trump's political success, it became the cornerstone of his $8.5 million crypto portfolio.

Total crypto market cap at $2.5 trillion on the daily chart: TradingView.com

Trump's Crypto Portfolio Hit Hard as MAGA Coin and ETH Prices Plummet

Despite initial gains, Trump's portfolio faced challenges as MAGA Coin and ETH prices plummeted. MAGA Coin peaked at $11.56 on March 4 but has since plummeted to $5, marking a 61% decline in a month. This downturn has slashed Trump's crypto holdings to $5.3 million, a $3 million decrease. Missed opportunities to sell during the peak exacerbated the loss.

MAGA price action in the last week. Source: CoinMarketCap