ETH Holdings of Trump-Backed DeFi Project World Liberty Finance Soar

Trump's DeFi Platform Loads up on Crypto Assets



World Liberty Finance has more than doubled its ETH holdings in a week, according to Arkham Intelligence data. The analytics platform reports that the project’s ETH holdings have surged 180% over the past couple of days, from around 2,200 ETH on Monday to more than 7,000 by Thursday.

Arkham currently reports that Ethereum is World Liberty’s largest holding, with 7,094 ETH worth around $16.2 million.

World Liberty Holdings in Red

On March 6, Arkham alerted users that World Liberty Financial had just sent $25 million in USDC to a separate contract, which purchased $10 million in ETH, $10M in wrapped Bitcoin (WBTC), and $1.5 million in a token called MOVE.

MOVE is the native token of the Movement Network, a venture capital-backed blockchain programming language that facilitates EVM (Ethereum Virtual Machine) compatibility. The token skyrocketed 26% over the past few hours as the Trump DeFi platform loaded up.

okex

However, the nine tokens purchased by World Liberty are currently in a total loss of $89 million, reported Lookonchain on March 6. Much of this is due to the impact Trump’s trade tariffs have had on crypto markets.

In addition to ETH, WBTC, and USDT, World Liberty also holds 40 million Tron (TRX) tokens worth $10 million, 10 billion WhiteRock (WHITE) worth $3.4 million, and a handful of more obscure tokens such as ONDO, COLLE, GROK, and HOPPY.

Ethereum remains the industry standard for DeFi, with a 52.6% market share of total value locked, according to DeFiLlama. It has lost some ground to Solana recently, which has seen its DeFi market share increase to 8.4% with a TVL of $9 billion.

However, Solana took a massive hit recently as the meme coin bubble burst because the network was primarily used to mint and trade the tokens.

ETH Price Reaction

ETH has woken up over the past 12 hours, gaining just over 6% to reclaim $2,300 during Asian trading on Thursday.

Nevertheless, the asset fell to a 16-month low of just over $2,000 earlier this week when analysts warned of a huge collapse in ETH prices if the head and shoulders chart pattern breaks down.

Currently, ETH appears to have bounced off support and is edging higher though it remains down 16% over the past fortnight.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

You have not selected any currency to display

Pin It on Pinterest

Crypto-Moon
Fiverr
Crypto-Moon
Trump's DeFi Platform Loads up on Crypto Assets
okex
Changelly
Coinpedia - Fintech & Cryptocurreny News Media
Coinpedia - Fintech & Cryptocurreny News Media
Aave Sees Consistent Year-Long Uptrend in These Metrics as AAVE Price Rockets
Coinpedia - Fintech & Cryptocurreny News Media
Autoglyphs Set Fetches Record-Breaking $14.6 Million in Historic NFT Sale
Coinpedia - Fintech & Cryptocurreny News Media
Blockonomics
Blockfi
VeChain Renaissance Overview: A Series of Major VeChainThor Upgrades Paving the Road to Blockchain Mass Adoption
Galaxy Digital sends over 10,000 Bitcoin from Satoshi-era stash to exchanges
Ethereum ETFs Attract $2.4 Billion in Six Days, Surpass Bitcoin Funds
Miner Weekly: Bitmain Funnels 187 Tons of Antminer Parts to Skirt US Tariffs
Crypto Market Retreats Amid Record Liquidity and Signs of Froth
VeChain Renaissance Overview: A Series of Major VeChainThor Upgrades Paving the Road to Blockchain Mass Adoption
Galaxy Digital sends over 10,000 Bitcoin from Satoshi-era stash to exchanges
Ethereum ETFs Attract $2.4 Billion in Six Days, Surpass Bitcoin Funds
Miner Weekly: Bitmain Funnels 187 Tons of Antminer Parts to Skirt US Tariffs