The on-chain analytical platform has revealed that Donald Trump has sent 1,075 Ethereum (ETH), worth $2.4 million, to Coinbase in the past 3 weeks. The former US President accumulated ETH through non-fungible token (NFT) affiliated earnings.
Donald Trump has so far released three non-fungible token (NFT) collections. While the first two collections were quick to sell out, the third collection has received relatively less community interest.
Donald Trump Deposits Ethereum to Coinbase Despite Whale Accumulations
The on-chain analytical platform – Arkham shared on X (Twitter) that Donald Trump may have been selling his ETH. Arkham wrote:
“3 weeks ago he started sending ETH to Coinbase after months of accumulating Trump NFT royalties. His peak balance was $4 million.
Based on the deposits, so far he’s sold 1,075 ETH for $2.4 million.”
Read more: How To Make Money With Intel-To-Earn on Arkham Intelligence
According to Arkham data, Trump’s top three holdings are:
- 589.53 ETH, worth $1.40 million
- 273.74 Wrapped Ethereum (WETH) worth $649,000
- 579,281 TRUMP worth $175,569
Earlier this month, Trump launched his third NFT collection – Trump Digital Trading Cards: Mugshot Edition, a collection of 100,000 NFTs. However, the OpenSea data shows that only 45,000 NFTs have been minted so far.
Nonetheless, Trump has been sending ETH to Coinbase while the crypto has rallied by over 10% since Wednesday’s lows. On Thursday, ETH hit yearly highs at $2,444, currently trading at $2,380.
On Wednesday, BeInCrypto reported that there has been a surge in the Ethereum network activity. Specifically, a surplus of withdrawals from the centralized exchange was observed in the last seven days.
Read more: How to Buy Ethereum (ETH) and Everything You Need to Know
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Source: https://beincrypto.com/is-donald-trump-selling-ethereum/