Connect with us

Published

on

Donald Trump, Republican candidate and former President, finds himself at the center of another lucrative intrigue not real estate or business, but the crypto world. His charismatic virality makes him a leading figure in PoliFi meme coins. With over half a million TRUMP (MAGA) tokens in his digital wallet, according to Arkham, the question looms: how much are his holdings worth today?

Don't Miss: If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019, heres how much youd have today. 1 in 4 Americans own a share of Bitcoin according to NASDAQ, how many people got started through this free crypto faucet? According to Cathie Wood, holding 6 Ethereum (ETH) could make you a millionaire, heres why it can be true.

MAGA, launched in August 2023, was the first project to allocate tokens to Trumps crypto wallet as a successful marketing scheme. On Aug. 16, 2023, the owners of MAGA sent approximately 470,000 MAGA tokens to Trumps wallet, followed by an additional 110,000 tokens on Oct. 9, 2023. Trump received a total of approximately 580,000 MAGA tokens, representing around 1.2% of MAGAs 46.5 million total token supply. At the time, the tokens were worth a mere few thousand dollars, as MAGA's price was less than $0.01.

The MAGA token lay dormant for months after its launch in August, only reaching a $2.5 million market cap in 2023. MAGA began moving, catalyzed by positive market sentiment in January 2024 soaring to $2.26 from $0.18 (over 1100% increase) in just 14 days. The next leg up was on March 3, 2024, to $11.54. A consolidation followed that led to MAGA ascending to $17.52 on May 31, 2024 the current all-time high price. Afterward, MAGA had a sharp sell-off to $5.55 by mid-June and currently sits around $7.13.

Trump's 580,000 MAGA tokens have an estimated value of $4.2 million at today's price of $7.13. Trump received his tokens as a gift when MAGA was less than $0.01, which means his MAGA holdings have increased over 71 thousand percent since then.

Trending: Dogecoin millionaires are increasing investors with $1M+ in DOGE revealed!

However, the estimated value of Trump's holdings is far from actuality after factoring in slippage (the difference in the executed trade price compared to the expected trade price). Liquidity (how easily an asset can be converted into ready cash without affecting its market price) and volatility (rapid price changes in a short time) are the primary causes of slippage.

During trade execution, volatility is far less concerning because of the wide distribution of MAGA tokens and its large market cap over $350 million. MAGA's biggest slippage factor is low liquidity, as there would not be enough buy orders at the current price to fill Trump's entire holdings. If Trump were to sell all 580,000 tokens, his sell order would consume all available buy orders, lowering the overall price. If Trump sold his entire holdings on Uniswap, he would expect to receive only around $2 million. Trump's profit would be over 50% less than the nominal evaluation of $4.2 million.

This underscores how liquidity plays an essential role in the cryptocurrency market. Nobody can escape the fundamentals; high-profile individuals like Trump must navigate intricate market dynamics. This scenario emphasizes an important lesson for investors: face value doesn't always translate to actual cash.

Like holding any cryptocurrency, holding meme coins like MAGA comes with its own set of risks. Meme coins can be especially volatile, creating a landscape where potential profits quickly turn to substantial losses. Making informed decisions and understanding the risks associated with your investment is crucial to maneuvering the unpredictable market.

Read Next: 82% of Americans arent using this government secured 5% passive income stream, are you one of them? How much Bitcoin did Michael Saylor says you need to become a millionaire? The number may shock you. Market News and Data brought to you by Benzinga APIs

2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Continue Reading

Sports

Phillies pound Mets, punch ticket to postseason

Published

on

By

Phillies pound Mets, punch ticket to postseason

NEW YORK — Bryce Harper and the Philadelphia Phillies clinched their third consecutive playoff appearance Friday night with a 12-2 victory over the New York Mets.

Assured at least a National League wild card, the Phillies can secure their first NL East title since 2011 with one more win this weekend against the second-place Mets at Citi Field.

With the division crown so close, Philadelphia planned a mellow celebration following Friday night’s game — hoping to let loose soon with a boozy clubhouse bash after locking up first place.

Seeking their third World Series championship, the Phillies overtook Atlanta for the division lead on May 3 and haven’t trailed since. Their victory coupled with the Braves’ 4-3 loss in Miami eliminated Atlanta from contention for the NL East crown — ending its six-year reign atop the division.

Alec Bohm had four hits and four RBIs, including a three-run homer, in Friday night’s blowout. Nick Castellanos had three hits and two RBIs, J.T. Realmuto added a two-run homer and the Phillies extended their NL East lead to seven games over the second-place Mets (85-69) with eight to play.

Philadelphia stole five bases — four in a six-run fourth inning capped by Bohm’s homer off reliever Adam Ottavino. Johan Rojas had a two-run double off starter David Peterson (9-3), who was pulled after just 64 pitches and 3 2/3 innings — his shortest start of the season.

Cristopher Sanchez (11-9) overcame a shaky start and five walks in five innings for the win. Philadelphia outhit the Mets 17-4.

Philadelphia (92-62) has the best record in the major leagues and is on track for a first-round bye in the playoffs. It’s the third time the Phillies have reached the postseason three years in a row (1976-78 and 2007-11).

Philadelphia won five straight NL East titles from 2007-11, then went 10 years without making the playoffs. A wild-card entry each of the past two postseasons, the Phillies put together consecutive October runs that ended in heartbreak.

They reached the 2022 World Series, losing to Houston in six games, and dropped a seven-game NL Championship Series to Arizona last year after leading the underdog Diamondbacks 2-0 and 3-2.

So this time, the Phillies are looking to go all the way and finally finish the job.

Philadelphia’s only World Series championships came in 1980 and 2008.

Information from The Associated Press was used in this report.

Continue Reading

Sports

Soto scratched after reporting soreness in leg

Published

on

By

Soto scratched after reporting soreness in leg

OAKLAND, Calif. — New York Yankees star right fielder Juan Soto was scratched from the lineup a day after hurting his left leg sliding into a wall to make a catch.

Soto was originally in the lineup for Friday night’s series opener against the Oakland Athletics but was pulled out after reporting soreness and swelling in the leg. Manager Aaron Boone said X-rays were negative and Soto will not need additional testing.

Soto hurt the leg Thursday in Seattle when he slid into the short wall in foul territory down the right-field line while making a highlight-reel catch. He remained in the game.

Boone said Soto is day-to-day. The manager noted that he wasn’t “overly concerned” that the injury will linger into the postseason. The Yankees clinched a playoff berth Wednesday night and went into Friday holding a four-game lead in the AL East over Baltimore with nine games to play.

“Guys do a good job of knowing how to protect themselves and playing smart in certain situations,” Boone said. “I think him getting down the way he did protected him a little bit. Obviously, he bruised it and he’s out today. But I think the way he did it avoided something serious.”

Soto is batting .286 with 40 homers and 103 RBIs in his first season with the Yankees. He entered the day second in the majors with 125 walks, 284 times on base and a .418 on-base percentage, trailing only teammate Aaron Judge in all three categories. Soto is third in the majors with 120 runs scored.

Soto missed three games in June with left forearm inflammation.

Continue Reading

Sports

A’s brace for emotions of final Coliseum ‘hurrah’

Published

on

By

A's brace for emotions of final Coliseum 'hurrah'

OAKLAND, Calif. — The A’s began their final homestand of their final season in Oakland on Friday night, and nobody can predict what might take place over the next six games and seven days.

After 57 seasons in the Coliseum, there will be emotion, but how that emotion will manifest itself is the main question on everyone’s mind.

“We’ve heard some rumblings, and we’re going to have some more meetings about it,” said left fielder Seth Brown, who, in his sixth season, is the longest-tenured Athletic. “The fans have always supported us, and we just hope they support us in a positive manner. We want everyone to come out and enjoy the time and give it its last hurrah, and at the same time we’re hoping it’s done the right way.”

The A’s will play three games against the New York Yankees before finishing the home portion of their schedule with three games against the Texas Rangers. The final game, on Thursday afternoon, will be the final major professional game in Oakland, which has lost three major franchises — the Warriors, the Raiders and now the A’s — in five years.

Beginning next spring, the A’s will play a minimum of three seasons in a minor league ballpark in Sacramento before making a permanent move to Las Vegas.

The A’s have been forced to deal with one off-the-field distraction after another over the past two seasons, from the Las Vegas announcement last April to the Sacramento announcement this April.

“This isn’t really new for us,” A’s manager Mark Kotsay said. “But the emotion last year was a lot greater in terms of the anger. This year has been really, really calm, and I don’t know if that’s because they’ve gotten the anger out. There’s still going to be that emotion as we near Thursday, but that’s part of whenever the healing process starts.”

Fans in Oakland have staged numerous protests aimed at owner John Fisher, who pulled out of a massive development deal in Oakland in April 2023 and announced the move to Las Vegas. There was a highly publicized “reverse boycott” last year and an Opening Day parking lot boycott — where fans congregated in the parking lot but refused to enter the stadium — this season.

Before Friday, the team had drawn 738,438 fans, the worst in Major League Baseball.

“The last three games are going to be pretty epic for us and the fan base,” outfielder JJ Bleday said. “I’m kind of looking forward to it, though. It’ll be exciting to play some games with a crowd. Obviously, I feel bad for the fan base, but we’ll be a part of history.”

The A’s have instituted some precautions for the final homestand, alerting the players to be aware of their surroundings in case fans decide to take the field. Players have also been told not to gather for photographs with family on the field after games.

“Just get on out of there,” Bleday said.

Before Friday’s series opener against the Yankees, fans taped the ubiquitous “SELL” signs to the railings in the right- and left-field bleachers. Another sign — “VIVEK REPENT” — was a reference to Sacramento Kings owner Vivek Ranadive, who also owns the Triple-A Sacramento River Cats, who will share Sutter Health Park with the A’s.

Ranadive, a friend of A’s owner Fisher, engineered the deal to provide the A’s with a temporary home, rent-free.

“I wish we were staying here,” Bleday said, “but it’s not up to me. I do have a jar ready to fill up with some dirt, though.”

Continue Reading

Trending