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The truth is in the data. That's kind of our motto if you ask me. And the data about Trump's coin is very telling.
Last week, Chainalysis released some statements about the launch of Trump Coin, spoiling who owns it and where it came from. The most striking data point is that the majority of holders have less than $100, indicating that they are heavily owned by retail.
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According to Chainalysis, a wallet age survey shows that a lot of these retail buyers are new to Crypto. In the chart below, you can see that the majority have opened wallets, compared to 16% of holders who have had a wallet for at least a year.
But the real question, as asked by Dragonfly's Rob Hadke, is will the new wallet holders actually become active participants in the overall ecosystem?
“A lot of people took (The Chainalysis) report that the Trump token was a mass onboarding event, primarily because 50% of the Trump/Melania token holders’ wallets were new to Sol altcoins,” he said.
“But this still makes the same wallet/user flows and misses the distinction between caring about Trump vs Onchain users creating value-added and contributing capital to the broader ecosystem.”
The caveat here, he added, is that people outside the encryption were asking for space. And personally, I can attest to that too. But I think it's fair to say that caring and doing are two very different things, and so far we're not seeing this leading to mass adoption.
Honestly, this is probably too much. For now, we may have to settle for people's interest. Adoption can come with use cases.
Or so I hope.
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