About 764,000 wallets that purchased President Donald Trump’s $TRUMP meme coin have lost money on the investment, according to fresh data shared with CNBC by blockchain analytics firm Chainalysis.
Most of the wallets that lost money held smaller amounts of the token, according to the firm’s on-chain analysis. Crypto wallets are accounts that store the keys you need to access and use your cryptocurrency holdings.
Chainalysis said that while around 2 million wallets have bought into the token, 58 wallets made more than $10 million apiece, totaling roughly $1.1 billion in gains.
The $TRUMP token, which surged in popularity after being tied to the start of Trump’s second term, has seen sharp price swings and highly uneven returns for investors. Fight Fight Fight LLC. and CIC Digital LLC., control the bulk of the token’s supply.
CNBC has reached out to Fight Fight Fight LLC. for comment on the Chainalysis numbers.
MORE: