On April 29, 2025, the TRUMP token became the market focus due to the market frenzy triggered by the previous "Trump Dinner." According to blockchain data analysis company Kaiko, after the announcement of the plan, the on-chain transfer volume of TRUMP tokens surged to $2.4 billion, with on-chain activity skyrocketing by 200%. Meanwhile, on-chain analyst Ember (@EmberCN) tracked a suspected address of the TRUMP token team that transferred a total of 1.346 million TRUMP tokens, worth approximately $19.53 million, to three major centralized exchanges (Binance, OKX, Bybit) just nine hours prior. This series of events propelled the price of TRUMP tokens to soar, setting new trading volume records and attracting widespread market attention.
Dinner Plan Ignites Frenzy, Price Soars 60%
On April 23, the TRUMP token project team announced that the top 220 addresses holding the most TRUMP tokens would have the opportunity to dine with Trump on May 22. This news quickly ignited the market, with whales scrambling to accumulate tokens. According to Kaiko data, the price of TRUMP tokens skyrocketed from $9 to $14.50 on the day of the announcement, a 60% increase, marking the most active trading day of the month. The daily trading volume on centralized exchanges also reached its highest level since mid-February, tripling compared to the previous week.
On-chain data shows that the dinner plan stimulated large-scale token transfers. Ember monitored that an address registered as "MeCo" withdrew a total of 1.195 million TRUMP tokens (approximately $15.76 million) from Binance, ranking first in the sign-up list. Kaiko pointed out that from April 23 to 29, the total on-chain transfer volume of TRUMP tokens reached $2.4 billion, with on-chain activity surging by 200%, indicating the market's fervent enthusiasm for the dinner plan.
Suspected Team Transfer Sparks Controversy
Just as market enthusiasm was high, on April 29, Ember disclosed a large transfer suspected to be from the TRUMP token team: one address transferred 700,000 tokens (approximately $10.21 million) to Binance, 350,000 tokens (approximately $5.08 million) to OKX, and 296,000 tokens (approximately $4.32 million) to Bybit, totaling 1.346 million tokens, worth about $19.53 million. This move sparked speculation in the community about "team sell-offs," especially at a sensitive time when the token price was running high.
Despite this, the price of TRUMP tokens remained stable around $14, with no significant decline. Analysts believe this may be due to the ongoing popularity of the dinner plan and the overall strong market sentiment. Some community members speculate that the team transfer might be to provide liquidity for exchanges or support subsequent activities, rather than simply cashing out. However, the lack of official clarification still leaves some investors cautious.
Market Response and Potential Impact
The surge in TRUMP tokens and the large transfer events have sparked heated discussions in the crypto community. Supporters argue that the scarcity of the dinner plan and Trump's personal influence have injected strong momentum into the token, with the $2.4 billion on-chain transfer volume demonstrating high market participation. On social media, TRUMP token-related topics trended from April 23 to 29, with discussion volume increasing by 150% compared to the previous week.
However, there are also concerns in the market. Kaiko pointed out that the TRUMP token's hype is highly event-driven, and the short-term stimulating effect of the dinner plan may be difficult to sustain. Additionally, the unlocking of approximately $30 million worth of tokens on April 18 and a daily release of $4 million may put pressure on the price. Investors need to be wary of the risks of high volatility at elevated levels.
Conclusion
The $2.4 billion on-chain transfers and the suspected $19.53 million team transfer triggered by the dinner plan highlight the event-driven nature of the crypto market. From a 60% price surge to a 200% increase in on-chain activity, the TRUMP token is undoubtedly the focus of the crypto circle in April. However, behind the frenzy, the controversy surrounding team transfers and the pressure from token unlocks remind investors to remain rational. In the future, whether the TRUMP token can maintain its upward momentum will depend on how the project team balances community trust and market expectations.
This article represents the author's personal views and does not reflect the position or views of this platform. This article is for informational sharing only and does not constitute any investment advice to anyone.
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