The cryptocurrency, launched under the auspices of former US President Donald Trump, has generated significant financial gains for its founders but has caused losses for thousands of investors.
According to estimates from three blockchain analysis firms, including Merkle Science and Chainalysis, the “TRUMP” token has generated between $86 million and $100 million in transaction fees in just two weeks after its launch.
The token has seen a rapid increase in trading activity since it was introduced on January 17. One of the organizations behind the project is CIC Digital, a company owned by Trump. The official website for the “TRUMP” token confirms that CIC Digital will “earn trading revenue from the trading activities of this memecoin.”
However, while the entity behind the token collects millions in fees, blockchain analysis shows that around 200,000 crypto wallets, mostly owned by small-scale traders, are losing money trading the coin. This highlights the often volatile nature of memecoins, where early adopters and issuers tend to benefit disproportionately compared to latecomers.
However, the figure only includes users who trade onchain, this number can be multiplied with exchange users.
The rapid rise of the “TRUMP” token and the significant fees collected have sparked discussions in the crypto community about the risks of speculative trading. Some experts warn that tokens of a similar nature could attract retail investors who could end up on the losing side of such trades.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/data-revealed-how-many-trump-token-victims-are-there-how-many-people-suffered-losses/