Trump Holds ETH Filings Reveal

In recent election disclosures, former U.S. President Donald Trump was revealed to hold between $1 million and $5 million in Ethereum (ETH), and he has reportedly earned significant income from non-fungible tokens (NFTs) through licensing fees. 

The detailed holdings in Trump’s cryptocurrency wallet, analyzed by Arkham Intelligence, are estimated at $3.6 million in ETH. 

Moreover, filings indicate that Trump secured $7.15 million from a licensing deal with a firm named NFT INT, while former First Lady Melania Trump reported $330,609 in income from NFT sales.

OpenSea’s data further highlighted that the Trump Digital Trading Cards have amassed over 15,808 ETH in trading volume since their launch. Trump announced plans in July to introduce another NFT collection. 

Despite his prior endorsements of cryptocurrency, Trump notably omitted any mention of his crypto engagements in a recent X space interview with Elon Musk and during a press conference addressing various campaign-related topics.

Despite the lively and broad-ranging discussion, many crypto fans were disappointed by the absence of direct mentions of cryptocurrency, especially considering Trump’s recent engagement with the topic at the Bitcoin 2024 conference. 

At the conference in July, Trump emphasized that a Democratic victory in the upcoming election would spell disaster for the cryptocurrency industry, accusing them of potentially ruthless and harmful regulatory actions.

Adding to his campaign promises, Trump vowed to dismantle the current regulatory framework overseen by SEC Chair Gary Gensler, whom he plans to dismiss immediately upon reelection, eliciting applause from the crowd. Trump was clearly taken aback at the crowd’s reaction when he made the announcement.

“On day one, I will fire Gary Gensler and appoint a new SEC chairman,” Trump said as the crowd went nuts. “I didn’t know he was that unpopular. Let me say it again. On day one, I will fire Gary Gensler.”

Additionally, the Trump Organization is poised to launch a new cryptocurrency initiative, signaling a continuing interest in blockchain technology within Trump’s business ventures. Anticipation started rising early in August, when Trump’s younger son Eric Trump posted on X that he had “fallen in love” with the new tech and that his followers should “stay tuned” for a special announcement.

Meanwhile, the Ethereum network has experienced a significant drop in transaction fees, reaching a five-year low, as reported by chief analyst Ryan Lee from Bitget Research. 

This decline in gas fees—now as low as 0.6 gwei for low-priority transactions—coincides with a decreased demand for Ethereum block space and a migration to faster, cheaper blockchains like Solana and Layer 2 solutions. This shift, combined with the Dencun upgrade improving network efficiency, contributed to the reduced fees. Interestingly, this reduction in fees has led to an increase in ETH’s supply, with nearly 16,000 ETH added over the past week, which could impact ETH’s price dynamics moving forward.

Lee, stated that when ETH’s gas fees hit rock bottom, it often signals a mid-term price floor. The price of ETH tends to rebound strongly after this cycle.