World Liberty Financial, a crypto project backed by the Trump family, has made a significant move, acquiring 3,473 ETH tokens valued at $13 million using USDC stablecoin. This purchase brings their total Ethereum holdings to 73,616 ETH, worth approximately $275 million.
World Liberty Acquires 3.4K ETH
According to Lookonchain data, President Donald Trump’s crypto project, World Liberty Financial, has spent $13 million USDC stablecoin to purchase 3,473 ETH, at $3,743 per token. The latest purchase has brought the platform’s total Ethereum holdings to 73,616 ETH, valued at approximately $275 million. World Liberty Financial has accumulated these tokens at an average price of $3,272, resulting in an unrealized profit of over $33 million.
Last week, WLF bought Ethereum tokens worth $10 million, coinciding with the altcoin’s bullish rally. Reportedly, the platform amassed 3,007 ETH at an average price of $3,325 per token. Previously in May, as CoinGape reported, WLF purchased 1,587 Ethereum coins worth $3.5 million.
Large-scale Ethereum purchases by institutional entities like World Liberty Financial can significantly influence market dynamics. Following this move, the Ethereum price has seen a notable increase of 2% over the past day, with the token hitting a daily high of $3,763 earlier today. Ethereum is currently facing a bullish momentum, boasting massive surges of 20% and 67% over the past week and month, respectively.
Whales and Institutions Flock to ETH
The World Liberty Financial’s increasing ETH accumulation goes in line with the growing institutional interest in the token. Recently, large players like SharpLink and Bitmine have scooped Ethereum, expanding their treasuries. Investment giant BlackRock has also been increasingly eyeing Ethereum, diversifying its focus beyond Bitcoin.
Amid this increasing demand for institutional-grade ETH investments, another major project has emerged—Ether Machine. As CoinGape reported recently, the $1.6 billion Ether Machine is backed by major industry leaders like Archetype, Blockchain.com, Pantera Capital, Electric Capital, and Kraken.
Beyond institutions, large crypto holders, or ‘whales,’ are also increasingly shifting their focus to Ethereum. For instance, a decade-dormant ICO-era Ethereum whale moved 1 ETH, with an unrealized profit of $2.44 million still on the table.
Nynu V Jamal
Nynu V Jamal is a Senior Journalist at CoinGape. She boasts more than 3 years of experience in content writing, with expertise in crypto and blockchain. She has contributed to platforms like CoinEdition and CryptoTale, demonstrating her proficiency in navigating the dynamic crypto landscape.
Beyond her journalistic pursuits, Nynu is a literary enthusiast, having served as an Assistant Professor of English Language and Literature. She is a Master’s degree holder in English Literature and a UGC NET qualifier. Her academic background has enabled her to publish research papers on literature, while also nurturing her creative side as a published poet.
Her creative side extends to music, crafts, and art, which she actively explores. Her unique blend of analytical and creative skills allows her to craft engaging stories that captivate audiences. Stay updated with Nynu on LinkedIn
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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