TL;DR
- Donald Trump-backed crypto project World Liberty Financial purchased 14,403 ETH worth $48 million.
- Ether (ETH) shows slight recovery against Bitcoin, with the ETH/BTC ratio improving.
- Rumors suggest the project has something significant planned, according to Eric Trump.
World Liberty Financial, the crypto project linked to Donald Trump, has made a major Ether (ETH) purchase totaling $48 million in the last 24 hours. This unexpected move saw the acquisition of 14,403 ETH across multiple transactions, as reported by Lookonchain on January 19.
With this transaction, World Liberty Financial’s ETH holdings now stand at 33,630 ETH, valued at approximately $107 million, according to Arkham Intelligence. This strategic purchase comes at a pivotal time, as Ether has shown signs of strengthening against Bitcoin. Over the past weeks, the ETH/BTC ratio has risen by 0.79%, reaching 0.03197, after an 18% decline over the previous six months, based on TradingView data.
A Strategic Move or Mere Speculation?
While World Liberty Financial has not disclosed the rationale behind the purchase, comments from Eric Trump, Donald Trump’s son and an advisor to the project, have fueled speculation. In a post on X (formerly Twitter) on January 19, Eric teased that the platform has something in the works.
“Wait until you see what they do tomorrow,”
he wrote, sparking rumors of potential developments within the project.
This spike in ETH purchases coincides with a brief surge in interest for the token. Notably, Google searches for “Ethereum” reached peak popularity on the same day the purchase was announced. Despite price fluctuations over the past 24 hours, Ether currently trades at $3,289, showing a 3% increase from the previous day, according to CoinGecko.
Meanwhile, the memecoin market has also been shaken by developments tied to the Trump family. A day before Donald Trump’s presidential inauguration, his wife Melania Trump launched her own memecoin, MELANIA, which soared to a valuation of $6 billion in under two hours. This launch coincided with a significant drop in the value of Donald Trump’s token, which lost $5 billion in market capitalization within minutes.
These events highlight the unpredictable nature of the crypto market, as projects backed by high-profile figures continue to create waves. Investors and enthusiasts alike are left wondering what’s next for World Liberty Financial and the broader crypto community.
