What to know:
- Data shows the project purchased $10 million in ether (ETH), and $1 million each in aave (AAVE) and Chainlink’s LINK tokens early Thursday.
- President-elect Donald Trump is “chief crypto advocate” of the project.
- World Liberty Financial uses data provider Chainlink’s services for better integrating with the wider crypto ecosystem, and is also deploying an Aave instance.
As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed countless instances where high-profile figures entering the cryptocurrency scene can significantly impact its trajectory. The recent move by World Liberty Financial, a project backed by the Trump family, to purchase millions of dollars worth of various major tokens is no exception.
On Thursday, cryptocurrency wallets linked to the World Liberty Financial initiative backed by the Trump family bought millions in diverse popular tokens. This significant purchase ignited a surge in their prices.
World Liberty Financial offers a unified service where individuals can both borrow and lend digital currencies, establish liquidity pools, and conduct transactions using stablecoins. In essence, WLFI functions as the management token within this platform.
In simpler terms, President-elect Donald Trump serves as the main supporter for this project in a leadership role. His sons, Eric and Donald Trump Jr., have been appointed as representatives or advocates for the web3 aspect of the project. Barron, on the other hand, holds a title that suggests he has forward-thinking ideas related to Decentralized Finance (DeFi).
The data indicates that the project made significant investments earlier today, buying $10 million in Ether (ETH), and a million dollars each in Aave (AAVE) and Chainlink’s LINK tokens. These purchases triggered a rise in prices: ETH saw an increase of 7%, while AAVE and LINK surged by approximately 30% due to the positive market sentiment following these transactions.
World Liberty (@worldlibertyfi) has recently invested in Ethereum ($ETH), Chainlink ($LINK), and Aave ($AAVE)! Over the past 9 hours, the World Liberty Multisig wallet has allocated a total of 12 million USD Coin (USDC) to purchase 2,631 ETH at an average price of $3,801, 41,335 LINK at $24.2, and 3,357 Aave at $297.8.
— Lookonchain (@lookonchain) December 12, 2024
Over the last 12 days, the wallet has also invested an extra $30 million by purchasing approximately 8,105 Ether for an average price of around $3,700 each, as reported by Spot on Chain.
According to popular cryptocurrency trader TheFlowHorse, it’s possible that these tokens could be linked to future strategies by Donald Trump over the next few months. In other words, it’s speculated that Trump may be purchasing crypto pairs that stand to gain significantly from his upcoming plans.
World Liberty Financial leverages Chainlink’s services to seamlessly connect with the broader cryptocurrency market. Chainlink bolsters our platform by offering essential price data and infrastructure for cross-chain compatibility, as detailed in a report from November.
Just last week, there was a proposal made on our platform’s Decentralized Autonomous Organization (DAO) to launch a World Liberty Financial Aave v3 version. This deployment will be overseen by external risk managers, utilizing the current Aave v3 framework, and is planned for Ethereum network.
As an analyst, I’d express it this way: In the context of a blockchain network, an ‘instance’ represents a particular implementation or variant of a protocol, app, or service that’s been deployed or is running at a specific version.
As an analyst, I’ve observed that our vote has surpassed the required participation threshold (quorum) before its scheduled closure on December 13. The main goals we are aiming to achieve through this vote are twofold: first, we strive to attract new users who have yet to experience our platform, and second, we plan to distribute a portion of our revenues to those contributing liquidity to our system.
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2024-12-12 09:10