According to the sharp monitoring of on-chain analyst @ai_9684xtpa, the cryptocurrency market has witnessed another large-scale capital flow movement. Four hours ago, SKY (@0xSkyisnobody), a participant at TRUMP’s dinner party, recharged a notable asset – 100,000 Trump tokens – to the well-known cryptocurrency exchange Bybit. Based on the current market price estimation, the value of this recharge amount is approximately 1.26 million US dollars.
Further data shows that since May 2nd, this address of SKY has been highly active in cryptocurrency trading operations, having cumulatively transferred 390,000 TRUMP tokens to the exchange. The total value of these transactions amounts to as much as 4.89 million US dollars. After calculation, the average recharge price is 12.51 US dollars.
TRUMP coin, as a key currency in the cryptocurrency field, has a unique development history. It was launched with great fandom by the 45th and 47th US presidents, Donald Trump, on January 18, 2025, causing a huge stir in the cryptocurrency market. On the day of its launch, CoinGecko data showed that the market capitalization of TRUMP Coin rapidly soared to 4 billion US dollars, strongly ranking fourth among Meme coins in terms of market capitalization. The price of the coin rose by more than tenfold within a day, which fully demonstrates the market’s enthusiastic pursuit of it in its initial stage.
On April 23 local time, the official account of Trump Coin released a major announcement, stating that it would invite the top 220 coin holders to a luxurious dinner at Trump’s private club in Washington, D.C. on May 22, claiming that participants would have a rare opportunity to “listen closely to Trump talk about the future of cryptocurrencies”. Not only that, the top 25 investors in terms of coin holdings were also invited to attend Trump’s exclusive reception and a “special edition” VIP tour. Once this news was released, it once again drew high attention from the market to the TRUMP dollar, and its price fluctuated accordingly.
However, SKY’s large-scale recharge of TRUMP tokens to Bybit this time has sparked much speculation in the cryptocurrency community. Some market participants believe that this might imply SKY’s personal judgment on the future trend of TRUMP’s currency, or it could be for purposes such as capital allocation and adjustment of investment strategies. After all, in the cryptocurrency market, the flow of large amounts of funds is often regarded as an important signal, which may have an impact on market sentiment and price trends.
At the dinner party on May 22nd, the content of Trump’s speech also became the focus. In his speech, he repeatedly criticized the Biden administration for suppressing the crypto industry and reaffirmed to his supporters his commitment to making the United States the world’s “crypto capital”, and he is rapidly moving towards this goal. But the entire speech didn’t last long, only a few dozen minutes. Then he quickly left the venue and returned by helicopter.
The large-scale recharge operation of SKY, a participant at this TRUMP dinner, undoubtedly adds new uncertainties to the already volatile cryptocurrency market. All market participants will continue to pay close attention to the subsequent price trend of Trump coins and the flow of related funds.
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