A wallet suspected to belong to GCR (@GiganticRebirth) earned an $8.3 million profit after depositing 1.08 million TRUMP tokens to the BTSE exchange. This transaction followed an assassination attempt on Donald Trump, which was foiled last Saturday.
Initially, the wallet spent 540,700 USDT to acquire the tokens at an average price of $0.50. Another address, “GCR: Address 1,” still holds 936,279 TRUMP tokens worth $7.23 million, indicating a potential profit of over $6.5 million.
The unsuccessful attack on Trump boosted his re-election odds and significantly rallied the crypto market, with the MAGA (TRUMP) token price surging by 60%. Despite a 25% correction post-profit booking, MAGA still trades at a premium of 42%, with a market cap of $334 million.
Other meme coins also saw a strong rally, rising by 4-10% in 24 hours. Trump’s upcoming speech at the Bitcoin 2024 Conference is expected to further influence the market. This event underscores the volatile yet impactful nature of political events on cryptocurrency markets.
