As a seasoned crypto investor with a knack for spotting opportunities amid market turmoil, I find World Liberty’s recent move to buy the dip on Ethereum quite intriguing. Having been through multiple bull and bear cycles, I can attest that such strategic investments often pay off in the long run. The Trump family’s backing lends credibility to this project, making it an interesting player to watch in the crypto space.
In simpler terms, the cryptocurrency initiative supported by the Trump family, known as World Liberty, has invested an additional $2.5 million in Ethereum, taking advantage of a price drop.
According to Arkham Intelligence’s data, it appears that World Liberty significantly increased its wager on Ethereum (ETH), as the altcoin’s value dropped in tandem with Bitcoin (BTC) and various other cryptocurrencies.
The project, having recently obtained various cryptocurrencies to enhance its decentralized finance solutions, spent 2.5 million USDC (USD Coin) to acquire approximately 759.36 Ether. As suggested by Arkham data, this transaction was executed through the purpose-driven trading platform Cow Protocol, with an average cost of $3,651 per Ether.
ETH price decline
World Liberty seized the recent drop in the cryptocurrency market to broaden its collection of alternative coins (altcoins). As Bitcoin fell below $93,000 on December 20th, Ethereum and many other digital currencies followed this trend. Ether’s value plunged to around $3,100, marking a substantial decrease during a widespread crypto market sell-off.
The recent decrease in value has caused significant drops for World Liberty’s newly obtained cryptocurrencies. As reported by Lookonchain, a smart money account, the Trump family project experienced a total loss of approximately $6.15 million during this market crash. Their Ethereum holdings suffered the greatest loss, amounting to around $4.86 million at that moment.
At present, World Liberty Financial owns around 16,400 Ethereum tokens, which equate to a value of approximately $53.73 million. When combined with other cryptocurrencies, as per Arkham data, the total worth of their crypto holdings surpasses $73.9 million.
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2024-12-20 19:11