Summary
⚈ Justin Sun’s wallet, holding over 1.17 million TRUMP, ranks first on the leaderboard.
⚈ Leaderboard ranks wallets using a time-weighted metric, not just total token amount.
Official Trump (TRUMP) saw a huge move to the upside on April 23, when it was revealed that 220 of the token’s largest holders would be invited to a private gala hosted by the president on May 22.
By press time on April 25, TRUMP was changing hands at $13.23, with a 73.45% gain on the weekly chart.
Beyond being a potentially useful networking opportunity, the event could also provide an indication of the president’s next moves in the cryptocurrency space, which often cause TRUMP to surge.
The token’s official website maintains a leaderboard listing the largest holders. As of the time of writing, the following address, 8NBEbxLknGv5aRYefFrW2qFXoDZyi9fSHJNiJRvEcMBE, belongs to the largest wallet.
How the Official Trump leaderboard determines who ranks where
The address in question, which currently holds 1,176,803.002 Official Trump, is labelled ‘Sun’, and most likely belongs to Tron (TRX) founder Justin Sun.
Readers might have noticed that current holdings do not always correspond to a place on the leaderboard. That’s because Time Weighted $TRUMP Holdings — a metric that takes into account both the size of the holdings, as well as their duration, is what determines one’s position on the leaderboard.
Although the rationale hasn’t been addressed, it’s likely that this was done to reward long-term holders, and prevent the event from being dominated, at least entirely by traders who simply happened to have a lot of liquidity on their hands.
Finally, the leaderboard seems to exclude exchange wallets and token issuers’ addresses.
Featured image from Shutterstock
