Donald Trump-Supported World Liberty Financial Raises Just 4% of Token Sale Target on First Day

As a seasoned researcher with years of experience observing the volatile world of cryptocurrencies and their associated projects, I must say that the recent launch of World Liberty Financial (WLF) has been an intriguing study. With the backing of the Trump family and the grand ambition of raising $300 million, it’s safe to say that expectations were sky-high.

24 hours after launching, World Liberty Financial, backed by the Trumps, fell short in selling only 4% of their planned token sale goal amidst significant excitement and a statement from GOP nominee Donald Trump, indicating a less-than-expected response.

Approximately 792.36 million units out of a 20 billion goal for the project have been purchased so far, with sales commencing quietly at 12:40 UTC on Tuesday. This has generated close to $11 million in funds for the project.

Approximately 2,900 investors purchased the token even though the site encountered multiple outages during its initial hour. According to CoinDesk’s first report, over 344 million WLFI tokens from the platform were sold to around 3,000 distinct wallets within that timeframe. Since then, the project has amassed an additional 6,000 unique token holders, as indicated by Etherscan data.

Trump’s announcement of the token sale triggered approximately 180 million more token purchases, yet it did not lead to a price surge.

As an analyst, I’ve observed that each token is priced at approximately $0.015 as of Wednesday’s data, and on average, users are buying less than a thousand dollars’ worth of the token. Delving into the site’s data further, it appears that an Ethereum wallet associated with the project holds more than eight million dollars in Ether (ETH), while around three million dollars’ worth of other tokens, primarily stablecoins, are also stored there.

That’s a dud start for the project in an industry where memecoins and whitepapers can often raise millions of dollars in the hours after offering their tokens. The project hoped to raise $300 million at a $1.5 billion valuation, as reported.

A portion of the lackluster response might stem from the unique characteristics of the token itself: WLFI functions as a non-tradeable governance token for the platform, allowing users to engage in DeFi actions such as borrowing, lending, and establishing liquidity pools.

Translation: Users cannot anticipate or inflate the token’s price for resale to investors at a profit, which could potentially reduce its appeal as an investment opportunity.

World Liberty Financial is affiliated with Donald Trump’s election campaign, where he pledged to transform America into a world leader in Bitcoin and digital currencies should he win the election in November.

In general, traders see a Trump victory as positive for the industry, contrasting with Democrat Kamala Harris who isn’t seen as particularly supportive of cryptocurrency. Currently, Trump is favored to win the election, with Polymarket giving him a 59% chance compared to Harris’s 40%.