TLDR:
World Liberty Financial, backed by Trump family, purchased $12M worth of cryptocurrencies: $10M in ETH and $1M each in AAVE and LINK tokens
The purchases triggered price surges: ETH up 8%, AAVE up 33%, and LINK up 30%
Donald Trump serves as “chief crypto advocate” while his sons Eric and Donald Jr. are “web3 ambassadors”
World Liberty Financial is developing a DeFi platform using Chainlink’s infrastructure and plans to deploy an Aave v3 instance
The project’s DAO proposal for Aave integration has already met quorum ahead of December 13 deadline
World Liberty Financial, a cryptocurrency platform supported by the Trump family, made waves in the digital asset market on December 12, 2024, with major token purchases totaling $12 million. The buying spree caused substantial price increases across several leading cryptocurrencies.
The project’s cryptocurrency wallet executed a series of purchases early Thursday, acquiring $10 million worth of Ethereum (ETH) and investing $1 million each in Aave (AAVE) and Chainlink (LINK) tokens. The transactions had an immediate impact on the market, with ETH prices climbing 8% during Asian trading hours.
The most dramatic price movements were seen in AAVE and LINK tokens, which both experienced sharp increases. AAVE surged 33% to reach $356, while LINK jumped 30% to trade at $29.29. These price movements reflected the market’s quick response to the large-scale purchases.
Trump’s World Liberty(@worldlibertyfi) is buying $ETH, $LINK and $AAVE!
In the past 9 hours, the World Liberty Multisig wallet spent 10M $USDC to buy 2,631 $ETH at $3,801, 1M $USDC to buy 41,335 $LINK at $24.2, and 1M $USDC to buy 3,357 $AAVE at $297.8.https://t.co/mtD0c2tvvo pic.twitter.com/B11KvcwRJQ
— Lookonchain (@lookonchain) December 12, 2024
Data from blockchain analysis shows that World Liberty Financial has been steadily building its position over the past several days. The project’s wallet spent an additional $30 million to purchase 8,105 ETH at an average price of $3,700 in the twelve days leading up to the latest transactions.
The Trump family’s involvement in World Liberty Financial has drawn attention to the project. Former President Donald Trump, who is currently President-elect, holds the position of “chief crypto advocate.” His sons Eric and Donald Trump Jr. serve as “web3 ambassadors” for the platform, while his younger son Barron has been named “DeFi visionary.”
World Liberty Financial operates as a unified platform where users can engage in various cryptocurrency activities. The platform enables borrowing and lending of digital assets, creation of liquidity pools, and transactions with stablecoins. The project’s native token, WLFI, serves as a governance token for the platform.
Recent developments show that World Liberty Financial is working to expand its technological infrastructure. The platform has integrated with Chainlink’s services to enhance its connectivity with the broader cryptocurrency ecosystem. Chainlink provides essential pricing data and cross-chain interoperability infrastructure to support the platform’s operations.
Chainlink community liaison Zach Rynes commented on the partnership, stating that the $1 million LINK purchase “strengthens the long-term alignment between the two ecosystems.” He noted that the integration would help scale decentralized finance (DeFi) services to a wider audience.
The platform recently proposed deploying a World Liberty Financial Aave v3 instance through its decentralized autonomous organization (DAO). This implementation would be managed by external risk managers and built using existing Aave v3 infrastructure on the Ethereum network.
The proposal has already received enough votes to meet quorum before its December 13 deadline. Key goals of the integration include attracting new users to the platform and sharing revenue with liquidity providers.
Breaking down the specific purchases, World Liberty Financial’s wallet bought 2,631 ETH at $3,801 per token, using $10 million in USDC stablecoin. The project also acquired 41,335 LINK tokens at an average price of $24.20 and 3,357 AAVE tokens at $297.80 each.
Market analysts have noted increased trading activity following the purchases. The cryptocurrency community has shown particular interest in the project’s choice of tokens, with some traders suggesting these selections might indicate future strategic moves.
Trading data shows that AAVE’s price increase has been part of a longer upward trend, with the token gaining 150% in value over the past three months. This growth reflects wider interest in decentralized lending platforms and their features, including flash loans and collateral management.
The Ethereum network, which serves as the foundation for many of these DeFi applications, has seen its native token ETH trade at $3,940 following the recent price increase. The blockchain continues to host a growing number of decentralized applications and financial services.
Chainlink’s role as a decentralized oracle network makes it a crucial part of many blockchain applications, providing reliable data feeds and cross-chain connectivity solutions. The recent price movement brings attention to its expanding role in the DeFi ecosystem.
The platform’s DAO proposal for Aave integration outlines plans for managing risk and expanding user access to DeFi services. If approved, this integration would mark a major step in World Liberty Financial’s development as a comprehensive cryptocurrency platform.
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