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Man Makes $167,000 in 5 Hours Trading Trump Tokens
Donald Trump was found guilty and sentenced on all 34 charges in the Stormy Daniels hush case. The court event sent the price of Trump-related cryptocurrencies soaring as news of his conviction broke.
Cryptocurrency tokens such as FreeTrump (FREE) and Never Surrender (TRUMP) were created on the day of the court hearing. However, none of these tokens are endorsed by the former president, nor does he have anything to do with their launch.
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It is alleged that the president’s fans pushed the tokens into the market to make hay when the sun was shining. Getting back to the point, Trump-related tokens have taken center stage and have been mostly dismissed in right-wing and free-thinking forums.
Cryptocurrency: Trump-inspired tokens offer profits of $167,000
One of these mysterious investor he made good use of the audition and made $167,000 in just five hours of trading. A trader spent $14,600 (85 SOL) and bought FreeTrump cryptocurrency (FREE) during the court hearing on the silence case. Luckily, his $14,600 investment turned into $140,000 and the mystery holder cashed out (814 SOL).
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Furthermore, the trader purchased TRUMP tokens worth $12,300 (72 SOL) and sold them for a profit of $54,000 (315 SOL). The profit from the operation amounted to 243 SOL in a few hours. The Trump-themed cryptocurrency produced stellar returns on the day of the hearing, and this investor was there at the right place at the right time.
In total, the anonymous investor made $167,000 in just five hours of trading in Trump-themed cryptocurrencies. There are many other Trump-inspired cryptocurrencies such as MAGA and many more. However, these are all speculative tokens and may not even remain in the markets tomorrow.
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The chances of theft or outright fraud remain high on these types of cryptocurrencies. The modus operandi is to distribute tokens based on current events and trends and withdraw them later.