Trump-Backed Crypto Initiative Acquires $48M in Ethereum

Highlights:

• World Liberty Financial has increased its Ethereum holdings with another $48 million combined investment.
• The Trump-backed crypto Initiative now holds a total of 37.868K ETH, valued at about $124.82 million.
• With the new procurements, World Liberty Financial’s entire valuation increased to about $271.62 million.

Donald Trump-backed initiative World Liberty Financial has gone on an Ethereum (ETH) buying spree, acquiring $47 million in ETH within twelve hours. The amount spent was enough to buy approximately 14,403 Ethereum tokens. Therefore, it brought the investment firm’s total ETH holdings to about 37.868K tokens, worth about $124.82 million.

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Moreover, per Arkham Intelligence’s statistics, the wallet holding World Liberty Financial’s entire crypto assets is now worth $271.62 million. Some notable cryptocurrencies in the wallet containing 96 tokens include 77.485 million Tether (USDT), valued at roughly $77.49 million; 61.706 million USD Coin (USDC), worth $61.71 million; 6.137k AAVE, valued at $1.97 million; 78.387K Chainlink (LINK), worth $1.93 million; and 17.62 Wrapped Bitcoin (WBTC), valued at $1.8 million.

🚨 BREAKING 🚨

TRUMPS WORLD LIBERTY FINANCIAL
BOUGHT $48,000,000 WORTH OF
OF ETH IN PAST 12 HOURS.

ETH PUMP ABOUT TO MELT FACES 🔥 pic.twitter.com/QRNXuixDs1

— Ash Crypto (@Ashcryptoreal) January 20, 2025

Ethereum’s Price Reaction to the Recent Accumulation

At the time of writing, Ethereum is priced at roughly $3,270, reflecting a slight 0.03% decline in the past 24 hours. Within the same timeframe, the crypto asset has fluctuated between $3,141.94 and $3,441.52 as its minimum and maximum price limits, respectively.

The price extremes above signify that the token experienced positive impacts from the buying spree. However, it has since retraced and could see a bounce back on more sustained buying amid a favorable market outlook. Meanwhile, following the slight price drop, ETH’s market capitalization reduced to about $395.56 billion.

On the contrary, its 24-hour trading volume is significantly up by about 91.36%, boasting a 63.29 billion valuation. The markedly raised trading volume highlights Ethereum’s busy network, signifying a possible indication that traders are capitalizing on its decline to buy more coins.

Other Events Revolving Around the ETH Procurements

The new procurements happened a few hours into Trump’s inauguration as the United States’ 47th president. In addition, the recent Ethereum purchases coincided with the same period that saw the incoming United States President launch his memecoin, TRUMP on Solana (SOL). This resulted in SOL’s unprecedented rally to a new $293.31 all-time high (ATH).

Like her husband, Trump’s wife Melania Trump also launched her memecoin MELANIA and announced the details of the coin release on X. As part of solidarity for his wife, the new United States president shared the news of his wife’s recent token launch in his victory rally.

The Official Melania Meme is live!

You can buy $MELANIA now.  https://t.co/8FXvlMBhVf

FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6

— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025

Within a few minutes of sharing the news about MELANIA’s market presence, TRUMP started experiencing strong selling pressures. Eventually, TRUMP’s market capitalization, which was initially stable at around $14 billion, started dropping and was worsened by the token’s 55% price decline.

At the time of press, TRUMP is changing hands at about $59.57, reflecting a 65.2% jump in the past 24 hours. The meme token’s current price is a possible indication that it has shaken off part of the losses that followed MELANIA’s launch. In addition, its market capitalization has recovered considerably, with a valuation of $11.94 billion. Meanwhile, TRUMP’s 24-hour trading volume has remained significantly high, with a 64.14% surge and a $59.53 billion valuation.

It is worth noting that Solana suffered a similar impact following MELANIA’s release. Notably, SOL has dropped from its over $290 peak price to its current $244.51 selling price. According to CoinGecko, SOL is down by 9.2% in its 24-hour-to-date price change variable. Within the same timeframe, Solana’s minimum and maximum prices ranged between $231.91 and $293.31. The prices highlight the devastating impact of Trump’s wife’s token launch action.

The selling pressure was so strong that Solana, $SOL, the cryptocurrency itself, fell nearly 20% in minutes.

The trade went from a rush to the entrance to a rush to the exit.

Across all memecoins, well over $10 billion in market cap was erased in the minutes after launch. pic.twitter.com/DL4YQBMAMf

— The Kobeissi Letter (@KobeissiLetter) January 19, 2025

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