TradingKey - The Trump Coin (TRUMP), which has already plummeted 30% over the past month, is set to experience a massive token unlock this week. On April 19, 40 million TRUMP tokens valued at $320 million will be unlocked, potentially exacerbating the fragility of the cryptocurrency market amid the impact of Trump’s tariffs.
According to Tokenomist, this linear unlock represents 20% of the current circulating supply of TRUMP. Token unlocks are typically considered bearish events, as they increase the supply of tokens and often lead to heightened selling pressure.
The market is concerned that the large-scale token sell-off triggered by such a high percentage of unlocks could further weaken the price of the Trump Coin.
Since its launch on January 18—two days before President Trump’s inauguration—the price of TRUMP has plummeted from a high of 73.43 to its current level of 8.34, marking an 88.6% decline.
Unlike Bitcoin or Ether, which serve as reserve currency symbols or utility tokens for blockchain ecosystems, Trump Coin is a quintessential meme coin. Its price volatility is heavily influenced by market sentiment and speculative trading.
At present, U.S. capital markets are experiencing a sell-off driven by a collapse in confidence in dollar-denominated assets, with panic spreading to the cryptocurrency market.
Bitfinex analysts noted that macro relief has not meaningfully extended to Bitcoin or Bitcoin spot ETFs, with institutional confidence remaining cautious in the short term. After record inflows in January, demand for cryptocurrency ETFs has cooled, with several products experiencing net outflows in recent weeks.
