World Liberty Monetary Initiative (WLFI), a DeFi challenge backed by US President-elect Donald Trump, has made headlines with a current $12 million crypto acquisition.
On Dec. 12, blockchain analytics agency Lookonchain revealed that WLFI acquired 2,631 ETH for $10 million at $3,801 per token. Moreover, it purchased 41,335 LINK and three,357 AAVE, investing $1 million in every.
In line with Arkham Intelligence data, these purchases have boosted the challenge’s crypto holdings to a worth exceeding $74.7 million. WLFI now holds roughly 14,576 ETH (price over $57 million), 102.9 cbBTC (valued at $10.3 million), and different property like USDC alongside its newly acquired LINK and AAVE.
WLFI’s substantial crypto buy seems to have influenced market situations. In line with CryptoSlate’s information, each LINK and AAVE recorded worth will increase exceeding 25% inside 24 hours.
WLFI goals to place itself as a leading DeFi platform that provides lending, borrowing, and digital asset funding companies. It additionally reportedly plans to introduce a proprietary stablecoin and instruments for accessing third-party DeFi purposes.
Market implications
The crypto neighborhood has been buzzing with hypothesis about WLFI’s current strikes. Some imagine the asset decisions align with a pro-crypto agenda anticipated underneath Trump’s administration.
A pseudonymous crypto dealer, Circulate Horse, suggested that WLFI could have strategically invested in tokens anticipated to thrive underneath favorable US rules.
In the meantime, different trade analysts additionally level to WLFI’s concentrate on DeFi, viewing the LINK and AAVE purchases as a sign of confidence in decentralized monetary applied sciences over speculative property like memecoins.
Chainlink’s Neighborhood Liaison, Zach Rynes, highlighted that adopting Chainlink Price Feeds for WLFI’s Aave V3 integration could possibly be a driving issue behind the acquisition. He additionally famous that the purchases would possibly mirror confidence in a extra supportive regulatory setting underneath Trump’s management.
Trump’s evolving stance on crypto additional fuels this narrative. Over the previous 12 months, the President-elect strongly advocated for the trade throughout his marketing campaign and has made a collection of pro-crypto appointments, together with that of David Sachs because the White House Crypto Czar.
Observers mentioned these efforts display a dedication to delivering on his regulatory readability and trade help guarantees.
