Nearly one million holders of the TRUMP token, officially associated with U.S. President Donald Trump, had lost money by the end of June 2026, according to data from blockchain analytics firm Nansen.
The firm analyzed public blockchain transactions and found that total losses among unprofitable holders had reached $3.81 billion.
Who Lost Money on TRUMP Coin?
Of the approximately 1.48 million wallets that purchased the token, 988,905 ended up in the red. That means roughly two-thirds of all TRUMP holders were holding losses by the end of June.
The figure includes both realized and unrealized losses. In other words, it counts investors who already sold the token at a loss, as well as those who continued to hold TRUMP while their positions remained underwater.
By comparison, around 500,000 wallets, mainly early buyers, collectively made about $4 billion in profit. The gap between early and late participants was especially large. Some buyers entered before the sharp price rally, while others joined after the reversal, when the token had already started losing much of its market capitalization.
At the time of the analysis, TRUMP traded near $1.76. That was about 97% below its all-time high of $75.35, which was reached shortly after the token launched in early 2025.
The collapse effectively wiped out most buyers who entered the asset at elevated levels while expecting the rally to continue.
Trump Family’s Crypto Income Surpassed Real Estate Revenue
According to the 2025 financial disclosure filed by Trump and his family, they declared more than $636 million in income from TRUMP, including royalties and trading fees.
This was the largest source of income among the crypto projects associated with the president and people close to him.
The family’s total income from crypto assets exceeded $1.4 billion, surpassing its income from real estate during the same period. Real estate has traditionally been viewed as the foundation of Trump’s fortune.
The disclosure was published between June and July 2026 and covered the results of the 2025 fiscal year.
How Nansen Calculated the Losses
Nansen’s analysis was conducted in early July 2026 and was based on direct blockchain transaction data. This means the calculations relied on publicly verifiable on-chain records rather than exchange reports.
The methodology compares each wallet’s purchase price with the current market value of the token. This allows the firm to separate profitable holders from unprofitable ones and estimate both realized and paper losses.
The data shows a sharp divide in capital distribution. A smaller group of early buyers and likely project-related entities captured most of the gains, while the majority of retail investors who entered later were left with losses.
What the TRUMP Collapse Shows About Speculative Tokens
From an analytical perspective, the TRUMP token follows a familiar crypto-market pattern: early buyers capture most of the upside, while late buyers enter near the peak and carry the downside after momentum fades.
A similar scenario played out with Kanye West’s YZY token, whose market capitalization reportedly surged to $3 billion within 40 minutes before collapsing amid suspicions of insider trading.
One technical factor not covered in detail here is TRUMP’s relatively low circulating supply. When a small share of total supply is freely traded on the market, the token can become more sensitive to large transactions.
The lower the circulating supply relative to total supply, the more sharply the price can react when major holders buy or sell. That structure can amplify both upside rallies and downside crashes, especially in speculative tokens driven by hype and concentrated ownership.
