Despite U.S. President Donald Trump's announcement of a dinner event for Official Trump (TRUMP) token holders, the market has seen a significant sell-off.

According to cryptocurrency media outlet Cointelegraph on the 26th, blockchain analytics firm Nansen reported that the TRUMP token recorded an outflow of $869 million over the past seven days.

Despite U.S. President Donald Trump’s announcement of a dinner event for Official Trump (TRUMP) token holders, the market has seen a significant sell-off.

According to cryptocurrency media outlet Cointelegraph on the 26th, blockchain analytics firm Nansen reported that the TRUMP token saw an outflow of $869 million over the past seven days. During the same period, the inflow was about $96 million, highlighting a clear net outflow.

President Trump plans to offer the top 220 TRUMP token holders an opportunity to apply for a dinner at the Washington DC Golf Club. Some of the top TRUMP token holders will also get a chance to participate in a White House tour.

However, Nansen further analyzed that "despite the incentive of a dinner invitation, the sell-off by existing holders overwhelmed the new buying interest." Currently, some of the top holders have liquidated their positions, and new wallets have entered the top 250 ranks.

Among the top TRUMP token holders, the largest holder is rumored to be Justin Sun, the founder of Tron. The wallet in question holds approximately 1,176,800 TRUMP tokens, valued at about $16 million.

The TRUMP token was launched in January this year, and with 80% of the total supply held by the project team, concerns regarding insider risk continue to be raised.

Previously, President Trump held a similar dinner event at the Mar-a-Lago resort with NFT buyers ahead of the 2024 presidential election.

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