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

World Liberty Finance’s ETH Holdings Surge 180% in a Week, According to Arkham Intelligence

World Liberty Finance, a project backed by the Trump family, has significantly increased its Ethereum (ETH) holdings in the past week. According to Arkham Intelligence, the project’s ETH holdings have more than doubled, from around 2,200 ETH on Monday to over 7,000 ETH by Thursday.

ETH is World Liberty’s Largest Holding

As reported by Arkham Intelligence, ETH is World Liberty’s largest holding, with 7,094 ETH worth approximately $16.2 million. This significant increase in ETH holdings is a notable development in the world of cryptocurrency and DeFi (Decentralized Finance).

Twitter Update from Kyle Chassé

A Twitter update from Kyle Chassé, a popular crypto influencer, highlighted the surge in World Liberty’s ETH holdings: "TRUMP FAMILY’S CRYPTO PROJECT WORLD LIBERTY FINANCIAL IS STACKING $ETH!! THEY NEARLY DOUBLED THEIR ETH HOLDINGS LAST WEEK!"

World Liberty Holdings in Red

On March 6, Arkham alerted users that World Liberty Financial had sent $25 million in USDC to a separate contract, which purchased $10 million in ETH, $10 million in wrapped Bitcoin (WBTC), and $1.5 million in a token called MOVE. This significant investment in ETH and other cryptocurrencies has led to a significant increase in World Liberty’s holdings.

MOVE Token Skyrockets

MOVE, the native token of the Movement Network, a venture capital-backed blockchain programming language, skyrocketed 26% over the past few hours as the Trump DeFi platform loaded up. This rapid growth in the token’s value is a significant indicator of the growing interest in DeFi and the potential for growth in the cryptocurrency market.

World Liberty’s Cryptocurrency Holdings

In addition to ETH, 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 Industry Standard for DeFi

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

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. However, 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.

Conclusion

In conclusion, World Liberty Finance’s significant increase in ETH holdings is a notable development in the world of cryptocurrency and DeFi. The project’s focus on ETH and other cryptocurrencies demonstrates its commitment to the growing DeFi market. As the cryptocurrency market continues to evolve, it will be essential to monitor the performance of World Liberty Finance and its investments.

FAQs

Q: What is World Liberty Finance?
A: World Liberty Finance is a project backed by the Trump family, focusing on DeFi and cryptocurrency investments.

Q: What is the significance of World Liberty’s ETH holdings?
A: World Liberty’s significant increase in ETH holdings is a notable development in the world of cryptocurrency and DeFi, demonstrating the project’s commitment to the growing DeFi market.

Q: What is the current market share of Ethereum in DeFi?
A: According to DeFiLlama, Ethereum remains the industry standard for DeFi, with a 52.6% market share of total value locked.

Q: What is the current price of ETH?
A: As of the current market, ETH is trading at approximately $2,300.