$TRUMP Coin Holders Must Spend $380,000 for Exclusive Dinner with President
The $TRUMP Coin is promoting a dinner event with former President Trump, intended for the top 220 holders. Key details include:
- Entry requires approximately $380,000 in holdings.
- Some top holders may be exchanges or individuals who prefer anonymity.
- There’s a separate invitation for the top 25 holders to an exclusive reception, with an estimated holding of about $5 million needed.
- The price of $TRUMP increased by about 20% following the dinner announcement.
- A potential cost for the dinner, accounting for market fluctuations, could be around $40,000.
- The snapshot date for eligibility is May 12, with average holdings during the period affecting ranking.
The $TRUMP Coin is now positioned as a utility coin due to its association with this event. The overall sentiment suggests that the crypto market is responding efficiently to these invitations, despite concerns about the exclusivity and legitimacy of such events.
Additionally, estimates suggest the Trump family has extracted about $1 billion from crypto, highlighting the disproportionate financial flow from this sector compared to other industries.