Former US President Donald Trump has been in the spotlight of the cryptocurrency world due to the recent transfer of Ethereum (ETH) from a wallet allegedly associated with him.
Reports from Arkham Intelligence revealed that in the last three weeks, this wallet moved 1,075 ETH, equivalent to about $2.4 million, to the cryptocurrency exchange platform Coinbase.
Looks like Donald Trump is selling his ETH.
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. pic.twitter.com/JZzA3cS2je
— Arkham (@ArkhamIntel) December 27, 2023
This move came after the portfolio previously hit a peak of $4 million in value.
According to current Arkham data, the wallet now holds Ethereum assets worth $1.39 million and around $644,000 in MATIC tokens, totaling $2.22 million.
It is crucial to note that transferring funds to Coinbase does not necessarily indicate sales or conversions to other assets.
These actions are linked to Trump-related non-fungible token (NFT) sales
The company NFT International LLC has released three different series of NFTs, the most recent being one that focuses on the narrative of an alleged “recent arrest” of Trump, and even features his mugshot.
These transactions and NFT releases have attracted attention, but so far, there has been no official response from Donald Trump’s office regarding these Ethereum movements or NFT sales.
The history of this portfolio shows significant variation in Ethereum assets.
In October, it was reported to contain 1,553 ETH , valued at more than $2.7 million at the time.
More recently, in December, a $1 million increase in Trump’s Ethereum assets was seen in the last month.
These movements and the evolution of their Ethereum holdings indicate active management of their crypto assets, while the provocative narrative behind the most recent NFTs could have influenced greater interest in these tokens.
Actions related to Trump’s NFTs, such as their launches, sales or promotions, may influence the perception of the NFT market in general.
The popularity, controversy, or virality of these tokens can impact the demand and value of NFTs in the broader cryptocurrency and digital art ecosystem.
The continued interest in Ethereum sales amassed through Trump’s NFT sales reveals an ever-changing landscape in the cryptocurrency space, where prominent figures like Trump remain major players in digital market dynamics.
