A crypto wallet tied to Donald Trump’s team has transferred 3.527 million TRUMP tokens to Binance. The value of this sudden transaction is estimated at $32.8 million.
According to Lookonchain, the transfer was tracked just 30 minutes before the announcement was made public. It originated from a wallet labeled “Official Trump Meme? Squads Vault.” The tokens were first sent to an intermediate wallet, which then moved the full amount directly into Binance’s hot wallet.
This is not the first mass departure of wallets attached to the Trump camp. So far, on April 28, these wallets distributed 12.54 million TRUMP tokens to the exchanges. These deposits have a cumulative value of approximately $150.68 million now.
This transfer has been made in four tranches and has involved various platforms such as Binance, OKX, Coinbase, and Bybit. The previous biggest deal that preceded this transaction took place on June 4, and it was worth almost 47 million TRUMP tokens.
Besides the 32.8 million move, 189 TRUMP token deposits worth up to 1,760 dollars were made on the same day. Although the total is small in volume, it reflects the continued operation of the same wallets.
Massive transactions of tokens to centralized exchanges arouse concerns within the market. These are usually interpreted as an indicator of possible sell-offs, although it may not have been established that a sale is actually going to occur. The arrangement and synchronization of these trades raise concerns that there might have been a premeditated scheme to reduce risk or bank profits in times when the commodities were high.
Market on Alert as Political Meme Coin Faces Exchange Pressure
The TRUMP coin has gained significant traction in recent months, boosted by political relevance and meme coin hype. However, recurring large-scale transfers into exchanges may apply downward pressure on its price.
The unexpected $32.8 million deposit has fueled rising concerns over the market’s future direction. Yesterday, another whale transferred an equal amount of the same token to an unknown address—143 million dollars. This trend of dense activity indicates that big holders might be preparing themselves for possible price fluctuations.
Price movement and supply of the TRUMP tokens are major factors monitored by market players. The following 24 hours will be critical to understand whether these transfers will also provoke any market responses.
As TRUMP coin activity continues to rise, the crypto community remains alert to further movements. All eyes are now on whether this $32.8 million transfer will lead to selling pressure or if it is part of a longer-term strategy.
Also Read: XRP Price Prediction 2025–2029: Will XRP Hit $3.45 Soon?
