The post Did Donald Trump Buy $48 Million Ethereum? The Mystery Behind the Mega Purchase appeared first on Coinpedia Fintech News
While the White House is making its last-minute arrangements to welcome Donald Trump, ventures and persons linked to the Trump family have made some sensational moves in the cryptocurrency market. The latest is the massive Ethereum purchase done by World Liberty Financial.
Interesting, hinting at more exciting developments, Eric Trump states: “Wait until you see what they do tomorrow.” Definitely, the Trump family’s engagements have created extreme excitement in the market. The element of curiosity has been lifted to its peak.
What’s next? Let’s examine the scenario a bit deeper. Ready? Dive in!
Trump’s WLF’s $48 Million Ethereum Purchase
On January 19, World Liberty Financial, a DeFi venture linked to US President-elect Donald Trump, acquired as much as 14,403 ETH at an average price per coin of $3,300. This indicates that the DeFi project invested at least $48 million to materise the deal. Data shows that, with the recent purchase, the total ETH holdings of WLF has surged to around 28,612 ETH. Considering that, at the time of writing, the price of Ethereum stands at $3,357, the value of the total ETH holdings of WLT is at least $96,050,484.
Analysts, like Min Jung, opine that WLF operates more like a fund than a traditional DeFi protocol.
WLF Token Sales and Asset Growth
Reports suggest that WLF has sold at least 20% of its total token supply. Highlighting that the WLF team is preparing to utilise the growing demand for the asset, reports also reveal that it is set to open an additional block of 5% of the supply.
According to reports, the value of the total holdings of WLF has sharply surged from around $187 million to over $235 million.
Trump Family’s Growing Crypto Influence
In the last weekend, at least two sensational meme coin launches were made by the Trump family.
$TRUMP, launched on January 18, has seen a growth of 837.15% so far. Its price now stands at $60.61. At one point on January 19, it touched a peak of $72.62.
$MELANIA, introduced a day after the launch of $TRUMP, has witnessed a surge of 42.80%. Its price now remains at $13.06. At one point on January 20, it reached a peak of $12.95. In the last 24 hours alone, the meme coin has experienced a rise of 75.8%.
Eric Trump, the son of Donald Trump, expresses extreme happiness about the way his family has created a buzz in the cryptocurrency market. Meanwhile, he also hints at more sensational developments.
WLT’s Controversial Actions & Market Concerns
Recently, WLT’s action to move $60 million in assets triggered serious speculations. Later, the WLT team, dismissing all the speculations that emerged related to the action, defended it as “routine treasury management”.
In conclusion, World Liberty Financial’s strategic Ethereum acquisition, coupled with the Trump family’s meme coin ventures, underscores the intersection of crypto and politics. As the story unfolds, these developments are poised to reshape perceptions of blockchain’s potential.