Although the markets are celebrating the victory of Donald Trump in the 2024 US presidential election, the token of World Liberty Financial (WLFI) does not show similar signs of growth.
Bitcoin price has reached an ATH overnight due to the prediction of Trump's victory, and many other tokens as well as publicly traded stocks have risen up to 20% in Wednesday's trading session. However, in the past 24 hours, less than 100,000 WLFI tokens (under $1,500) have been sold.
According to dune analytics, the WLFI Governance Token of World Liberty Financial has generated $14.8 million in revenue since its launch on October 15, with $10 million recorded on the first day. This figure is still far from the $300 million target that this DeFi project aims to raise.
In a filing submitted to the US Securities and Exchange Commission (SEC) last week, the project stated that they currently only aim to raise $30 million before ending the Token Sale. The filing shows that there have been 348 investors participating and $2.7 million has been sold, mainly from accredited investors in the US (while the token has also been made available to a wider group of non-US investors).
On-chain data shows that WLFI has nearly 19,000 token holders in over 22,000 transactions, assuming all are buy transactions as the token is not yet transferable (at least within one year after the end of the sale).
Jehan Chu, co-founder of Kenetic Capital, previously shared that the regulations on token sales in the US have prevented retail investors from participating. Alexander Blume, CEO of Two Prime, commented that "I haven't seen anything interesting or unique about this project other than it has the Trump brand. That's not enough to be appealing to most people. The crypto community has been quite skeptical about this project even before its launch, as it seems to be more of a profit opportunity rather than bringing any new value."
Meanwhile, DeFi tokens like Aave have surged 24% in the past 24 hours. The Block analyst Brian McGleenon believes the price increase of Aave could be due to the positive outlook on the proposal from World Liberty Financial submitted to AaveDAO on October 9, proposing to launch this platform on Aave V3 and share 20% of the transaction fees and 7% of the WLFI token supply with AaveDAO.
