Trump-Backed World Liberty Financial Buys 3,400 ETH Amid Soaring Corporate Demand
World Liberty Financial, a cryptocurrency effort funded by the Trump family, has received media notice for its measured investment in Ethereum. The project’s most recent acquisition is 3.4k ETH, obtained by trading $13 million in USDC.
Trump-Linked Crypto Firm Increases Ethereum Holdings
According to Lookonchain statistics, World Liberty Financial, President Donald Trump’s cryptocurrency business, bought $13 million USDC stablecoin for 3,473 ETH at $3,743 per. With the most recent buy, the platform now holds 73,616 Ethereum, valued at around $275 million. World Liberty Financial purchased these tokens at an average price of $3,272, resulting in an unrealized profit of more than $33 million.
WLF bought $10 million worth of tokens last week, matching Ethereum’s exuberant ascent. On average, the site purportedly acquired 3,007 Ethereum coins for $3,325. As previously reported by CoinGape, WLF spent $3.5 million for 1,587 Ethereum coins in May.
Impact on Ethereum Price
Institutional buyers of Ethereum, such as World Liberty Financial, may have a significant effect on market dynamics. Following this move, the price of Ethereum rose by 2% in the previous day, reaching a daily high of $3,763 earlier today. Ethereum is now experiencing positive momentum after seeing huge rises of 20% and 67% over the past week and month, respectively.
World Liberty Financial’s rising ETH holdings indicate increased institutional interest in the coin. Big players such as Bitmine and SharpLink have recently acquired Ethereum, increasing their treasuries. Aside from Bitcoin, investment behemoth BlackRock has kept a close eye on Ethereum.
New Institutional Vehicles: Ethereum Machine
Another notable project, Ethereum Machine, emerged in response to the increased need for institutional-grade Ethereum investments. According to CoinGape, the $1.6 billion Ether Machine is endorsed by significant industry companies such as Archetype, Blockchain.com, Pantera Capital, Electric Capital, and Kraken.
In addition to institutions, large cryptocurrency owners, known as “whales,” are increasingly moving to Ethereum. A dormant Ethereum whale from the first coin offering period, for example, moved 1 ETH, resulting in $2.44 million in unrealized gains.
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