TLDR:
- Backed by the Trump family, World Liberty Financial poured $12M into cryptocurrencies, including $10M into ETH and $1M each into AAVE and LINK.
- The market reacted quickly to these purchases, with ETH rising by 8%, AAVE by 33%, and LINK by 30%.
- Donald Trump, in his role as 'chief crypto advocate,' is joined by his sons Eric and Donald Jr. as 'web3 ambassadors'.
- World Liberty Financial is advancing its DeFi offerings using Chainlink’s technology and is set to introduce an Aave v3 deployment.
- The project's DAO proposal for integrating with Aave has already reached the necessary votes ahead of the deadline on December 13.
World Liberty Financial , a cryptocurrency venture affiliated with the Trump family, made headlines on December 12, 2024, with its significant $12 million investment in digital assets, sparking notable rallies in the crypto market.
In a series of purchases on Thursday morning, World Liberty’s digital wallet acquired $10 million in Ethereum (ETH) and $1 million each in Aave (AAVE) and Chainlink (LINK), driving ETH prices up by 8% during Asia’s trading session.
AAVE and LINK experienced the most significant price movements, with AAVE leaping 33% to $356, and LINK surging 30% to $29.29, showcasing the market's swift reaction to such heavy buying.
Trump's World Liberty( @worldlibertyfi ) is buying $ETH , $LINK and $AAVE !
Within just nine hours, the World Liberty Multisig wallet conducted $10M worth of transactions. $USDC to buy 2,631 $ETH at $3,801, 1M $USDC to buy 41,335 $LINK at $24.2, and 1M $USDC to buy 3,357 $AAVE at $297.8. https://t.co/mtD0c2tvvo pic.twitter.com/B11KvcwRJQ
— Lookonchain (@lookonchain) December 12, 2024
Analysis of blockchain data indicates that World Liberty Financial has gradually been amassing digital assets, spending an extra $30 million to acquire 8,105 ETH at an average cost of $3,700 in the days leading up to this activity.
The Trump family's involvement has brought much attention to World Liberty Financial. Named the 'chief crypto advocate', Donald Trump, who is the President-elect, works alongside his sons Eric and Donald Jr. as platform 'web3 ambassadors', while Barron Trump has been dubbed the 'DeFi visionary'.
World Liberty Financial functions as a comprehensive crypto platform, allowing users to lend, borrow, create liquidity pools, and transact in stablecoins, with WLFI serving as the governance token.
Evidence of growth, World Liberty Financial has harnessed Chainlink for vital pricing data and cross-chain interoperability, solidifying its infrastructure within the broader crypto landscape.
Chainlink's community liaison, Zach Rynes, acknowledged the $1 million LINK investment as fortifying the strategic association between the ecosystems, emphasizing its role in scaling DeFi to greater audiences.
A proposal from the platform suggests introducing World Liberty Financial’s own Aave v3 instance, administered by external risk managers using existing Ethereum-based Aave v3 tools.
This proposal has garnered sufficient support to meet quorum before December 13, aiming to onboard new users and share profits with liquidity providers.
Delving into the purchases, World Liberty Financial’s account acquired 2,631 ETH at $3,801 each, using $10 million in USDC, along with 41,335 LINK averaged at $24.20, and 3,357 AAVE at $297.80 apiece.
Following these acquisitions, analysts note a spike in trading activity, with special interest in the project’s token choices potentially hinting at strategic future initiatives.
AAVE's recent price increase reflects a longer-term growth pattern, evidenced by a 150% gain over three months, driven by interest in decentralized financial solutions like flash loans and collateral options.
Serving as the backbone for many DeFi applications, Ethereum's network is witnessing ETH trade around $3,940 post-rally, continuing to host an increasing array of decentralized applications.
Chainlink, crucial as a decentralized oracle network, facilitates reliable data provision and cross-chain solutions, with recent price actions spotlighting its importance in the DeFi realm.
Focus on risk management and expanding user access defines the DAO proposal for Aave integration, marking a pivotal moment in World Liberty Financial’s development as an extensive crypto hub.
