Rising Interests in Ethereum and DJT

The famous market intelligence platform, noted for its valuable on-chain and social data, identified two types of cryptocurrencies currently seeing a significant increase in trader interest.

Cryptocurrency traders are showing increasing interest in the Trump-themed meme token DJT, according to data from Santiment.

The interest in DJT, which was recently launched and is named after former U.S. President Donald Trump, comes amid ongoing controversy over another Trump-linked memecoin, TRUMP, and allegations of insider trading.

? Breaking down the recent Santiment data

In a recent tweet, Santiment highlighted the coins that are currently seeing the largest increase in trader interest. Among the cryptocurrencies that are generating significant interest are:

- Ethereum (ETH): News about the SEC ending its Ethereum investigation and Pantera Capital’s plan to purchase $100 million of Ether appears to be driving interest in ETH.

- DJT (Donald J. Trump): Notably, the token is garnering attention following Martin Shkreli's involvement. Shkreli has claimed to have co-created the DJT token.

Rising interest in Ethereum and DJT

As noted by Santiment, the interest in DJT is particularly noteworthy given the recent controversy surrounding another Trump-linked memecoin, TRUMP. The token, which was delisted from several exchanges, has faced scrutiny over allegations of insider trading.

However, despite the ongoing legal battles and regulatory concerns, both DJT and TRUMP continue to attract attention and interest among crypto traders and enthusiasts.

Whale’s profit-driven transactions with TRUMP

Meanwhile, an analysis by leading analytics platform SpotOnChain has revealed that the large transactions involving another Trump-related cryptocurrency, TRUMP, were likely driven by profit.

On Jan. 19, 2024, a whale spent 250,000 USDT to purchase 495,000 TRUMP tokens. After a recent market selloff, the whale’s holdings were reduced to 386,000 TRUMP tokens, but they were still valued at nearly $3 million.

According to SpotOnChain, the whale's total profit from this transaction is estimated at $3.66 million, indicating a 1,463% increase.

However, the platform noted that this profit figure is an estimate, as the whale did not sell their holdings in a single transaction. The analysis shows that the whale sold their TRUMP tokens in seven transactions over 24 hours. As a result, the tokens were sold at varying prices due to the inherent volatility of the cryptocurrency market.

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