On-chain data shows that the deployment address of the TRUMP Meme token transferred 94 million USDC to Coinbase in the past three weeks. Where did this money come from? It turns out it was cashed out through Meteora's unilateral liquidity mechanism.

Here's how it works: when adding liquidity on Meteora, users can only deposit TRUMP tokens without pairing USDC. The system automatically monitors the price, and once it hits a preset range, these tokens are automatically converted into stablecoins. It sounds a bit complicated, but in reality, it's an automated profit-taking tool—selling automatically when the price reaches the target.

Interestingly, another Meme coin from the Trump family, MELANIA, uses the same cash-out logic. The fact that these two tokens operate using the same method suggests that the same group of people is likely behind both. This on-chain cashing-out method is quite efficient, directly connecting to the exchange's liquidity pools, saving many middle steps. Anyway, from the perspective of exchange data, such large liquidity events are always worth paying attention to.