Oh, the audacity! 🙊 The decentralized finance project, World Liberty Financial, with a certain ex-President’s backing, has splashed out another $10m on Ethereum. Yes, you heard right, darling!
While Ethereum (ETH), our beloved underdog, has been struggling to find its footing amidst Bitcoin‘s (BTC) dazzling new all-time high of $108k, it seems there’s a knight in shining armor. Or rather, a financier with a penchant for the dramatic. Enter: World Liberty Financial, the Trump-backed project that’s making headlines for all the right (and perhaps, some wrong) reasons.
Remember when they spent a whopping $47 million on ETH during Trump’s inauguration day? Well, they’re back at it again, my dears. This time, with an additional $10 million in their pocket, split into two separate transactions. The latest purchase, made on the 31st of January, saw them exchange 10 million USDT for 2,972 units of the ethereal token.
According to Spot On Chain, this recent transaction has boosted their total Ethereum stash to over 70,000 units, valued at a staggering $225 million. Quite the coup, wouldn’t you say?
This bold move solidifies Ethereum as one of the project’s “biggest bets in crypto,” a statement that’s sure to make even the most seasoned investors raise an eyebrow. But then again, when has Trump ever done anything half-heartedly?
Arkham, the market intelligence and analytics firm, reveals that World Liberty Financial is sitting on a crypto fortune of over $428 million. This includes $225 million in ETH, $68 million in wrapped Bitcoin, and a cool $66 million in staked Ethereum. Quite the diversified portfolio, wouldn’t you agree?
Despite these hefty purchases, Ethereum’s price has only managed a modest 4.6% gain in the last 24 hours, peaking at $3,420 across major crypto exchanges. Alas, it still languishes below the coveted $4,000 mark, a level it flirted with back in mid-December 2024.
But fear not, dear readers! Fresh momentum, spurred by the recent inflows into spot Ethereum ETFs, might just be the catalyst needed to propel our favorite altcoin beyond this psychological barrier. Watch this space, darlings! 💫
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2025-01-31 20:23