Donald Trump to Host a Private Gala for 220 Crypto Traders Who Have the Largest Official TRUMP Holdings

An address associated with a trader dubbed boop on the Official Trump (TRUMP) leaderboard swapped 298,017 Fartcoins (FARTCOIN) worth over $300,000 at the time of the transaction for 26,178 TRUMP, according to data retrieved by Finbold from Solscan.

An address associated with a trader dubbed boop on the Official Trump (TRUMP) leaderboard swapped 298,017 Fartcoins (FARTCOIN) for 26,178 TRUMP, according to data retrieved by Finbold from Solscan. At the time of the transaction, FARTCOIN was trading at around $1,006.36, while TRUMP was priced at approximately $11.52.

The transaction was spotted on May 18, 2024, and saw FARTCOIN depreciate by 0.79% in the 24-hour period, while TRUMP appreciated by 11.48% in the same time frame.

The swap also saw an intermediate currency, Wrapped Solana (W Solana), used to facilitate the exchange. The trader first swapped 298,017 FARTCOIN for 297,986.48 W Solana, and then used the stablecoin to buy 26,178 TRUMP.

The trader then had 25,947.48 W Solana remaining, which they swapped for 27,240 FARTCOIN. This left the trader with a net gain of 2,723 FARTCOIN and 26,178 TRUMP.

The transaction is sure to attract attention in the cryptocurrency community, as it is a rare instance of such a large-scale swap between two meme coins. It is also a testament to the popularity of the Official Trump coin, which has seen a surge in demand in recent months.

The move comes after President Donald Trump will host a private gala on May 22 for 220 crypto traders who have the largest Official Trump holdings.

The initial announcement led to a sharp increase in the price of TRUMP, as investors with a lot of liquidity to spare vied for a spot in what will surely be an excellent networking opportunity at the very least.

There’s good reason to believe that the newfound incentive could drive the price of Official Trump even higher. At present, Justin Sun, the founder of Tron (TRX), holds the number one spot on the leaderboard.

A key reason as to why TRUMP could rally even more — and sooner, rather than later, is the way that the leaderboard works. It isn't a simple, straightforward measure of holdings — rather, duration also plays a factor.

Accordingly, traders who seek to maximize the chances of attending the prestigious event will most likely shore up their holdings as soon as possible.