U.S. President Donald Trump and his entourage have already made tens of billions of dollars in profits (at least on paper) off of the Official Trump (TRUMP) and Melania Meme (MELANIA) tokens that launched on Solana in the last three days.

Now trading at $42, TRUMP has surged to a $8.8 billion market capitalization, making it the 25th largest coin in the whole crypto ecosystem, just behind some CoinDesk 20 coins such as polkadot (DOT) and litecoin (LTC). (The CoinDesk 20 is an index of the top 20 cryptocurrencies by market cap excluding memecoins, stablecoins and exchange coins).

MELANIA, for its part, has risen to a $945 million market cap, placing it 121st position among token projects.

On-chain data shows that the TRUMP treasury wallet currently holds $35.5 billion of the token, plus $17.5 billion in other memecoins named after Trump family members including Eric Trump and Kai Trump. The wallet flagged as having launched Official Trump has $622 million in the token and almost $162 billion in other coins, including $147 billion another memecoin named after Vice-President J.D. Vance. Unlike the Trumps, Vance did not indicate on social media that he was launching a memecoin.

The Trump team holds MELANIA in a different configuration. About 77% of the token’s supply is held in three different wallets, two of which have been labelled on Solscan as belonging to the Melania team alongside a fourth wallet, which holds 3.7% of the supply. Assuming all four wallets belong to the MELANIA team, the Trump family currently holds $4.8 billion worth of that token.

Importantly, two of these wallets — labelled Go to Source to See Full Article
Author: Tom Carreras