The DeFi project of the Trump family, World Liberty Financial (WLFI), after investing $12 million to massively buy ETH, LINK, AAVE and other cryptocurrencies yesterday (12th), has increased its holdings again today, driving up the prices of the related tokens.
WLFI Increases Holdings of LINK and AAVE
According to Lookonchain's monitoring, WLFI's multi-signature address today bought 37,052 LINK at a price of $27, with a total value of about $1 million; and bought 685 AAVE at a price of $360, worth about $246,700.
Since November 30, Lookonchain's statistics show that WLFI has invested the following funds:
- Used 30 million USDC at an average price of $3,701 to purchase 8,105 ETH;
- Used 10 million USDC at a price of $97,181 to purchase 103 cbBTC;
- Used 2 million USDC at a price of $25.5 to purchase 78,387 LINK;
- Used 1.25 million USDC at a price of $308.4 to purchase 4,043 AAVE.
AAVE, LINK Surge Over 10%
This has brought significant exposure to AAVE and LINK, with their prices both delivering impressive performances. CoinGecko data shows that LINK broke through the $30 barrier around 11 a.m. this morning, reaching a high of $30.94, a new high since November 2021.
As of the time of writing, the token price is temporarily reported at $29.97, up 11.7% in the last 24 hours.
AAVE's rally was even more fierce, rising from $330.77 yesterday to a high of $383.20, accumulating a gain of 15.85%, a new high since October 2021. As of the time of writing, it has slightly retreated to $377.36, up 14.1% in the last 24 hours.
World Liberty Financial Total Holdings Exceed $75 Million
World Liberty Financial (WLFI) officially launched on September 16 this year. The platform provides crypto lending services on Ethereum and issues non-transferable $WLFI tokens. According to the official document, DT Marks DEFI LLC, a Delaware company founded by the Trump family, will receive 75% of the net revenue of the protocol and can decide on its own financial management.
The latest data from Arkham shows that the WLFI multi-signature address currently holds $75.18 million in cryptocurrencies, with the largest holding being ETH, with 14,644 ETH worth $57.26 million, which seems to indicate the Trump family's strong preference for ETH.
As WLFI uses its earnings to purchase ETH, Mechanism Capital partner Andrew Kang tweeted yesterday that the outlook for ETH has improved. In addition, he also pointed out 3 other reasons:
- Nomination of SEC and CFTC chairs who support ETH and DeFi
- Reduced selling pressure on the Grayscale Ethereum Trust (ETHE)
- ETH and ETH/BTC ratio were over-hyped before the launch of Ethereum ETFs, but the ETF hype has now subsided.
