Bitcoin Nears $80,000 as Trump Token Collapse Costs Investors $3.8 Billion
Bitcoin rose to $79,866 amid a positive crypto market trend, while blockchain data from Nansen revealed that retail investors lost $3.81 billion on the TRUMP token, which collapsed 97% from its peak.
The cryptocurrency market experienced a mostly positive trend on Sunday, with only two major digital assets showing negative movement. Bitcoin rose by 0.19%, bringing its market capitalization to $1.61 trillion, trading at $79,866.2. Over the past week, the leading cryptocurrency has gained 2.47%.
Major Altcoin Performance
Ethereum increased by 1.68%, marking a weekly gain of 1.91%. The asset traded at $2,500.02 with an estimated market value of $305.09 billion. Tether showed a minor decline of 0.01% (up 0.01% over the week), trading at $1.0001 with a market cap of $183.40 billion.
Binance Coin fell by 0.68%, despite a weekly growth of 9.61%, trading at $758.10 with a market cap of $101 billion. Ripple recorded a positive shift, rising 0.54% (up 2.50% over the week) to trade at $1.4224 with a market cap of $89.24 billion. USDC rose by 0.01% (down 0.01% over the week) to $0.9999 with a market cap of $74.55 billion.
The Collapse of the TRUMP Token
Amid these market movements, Ross Gerber, CEO of an American investment management firm, stated that "over a million people lost money on Trump's crypto scam." He referred to data from blockchain analytics firm Nansen, which revealed that nearly one million Americans who purchased the TRUMP token lost no less than $3.81 billion. In contrast, Donald Trump himself generated $635 million in profits from the token, an amount disclosed in his annual financial report.
The token, launched three days before Donald Trump's inauguration in January 2025, reached a market capitalization of nearly $15 billion before collapsing by 97% to $408 million. According to blockchain data, approximately 988,905 wallets holding the token are currently in a loss position. Conversely, fewer than 500,000 wallets generated a total profit of about $4 billion, mostly belonging to early buyers who entered within the first hours of launch.
Nansen analysts noted:
"The group that profited from the Trump token represents a small number of early buyers who captured massive profits, while the majority of the retail crowd absorbed the losses."
