Bloomberg: Trump team may not sell quickly after TRUMP is unlocked
Internet reports that cryptocurrency market participants are preparing to welcome a large number of unlocked Meme coins. Trump Meme Coin TRUMP plans to unlock 40 million tokens allocated to affiliated groups on Thursday, which means that holders such as early investors or insiders who were previously restricted from selling can now freely trade these tokens. Messari analyst Dylan Bane said that once unlocked may trigger a sell-off, the move may trigger the risk of further decline in token prices, but the Trump team is highly likely to do so because they do not want negative reports. Edward Chin, co-founder of Parataxis, pointed out that if the Trump team works with the right market makers, unlocking may not be so important in the short term. But in the long run, additional supply will put pressure on price movements, either pushing down prices or not allowing token prices to rise significantly even if new demand enters.
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