World Liberty Financial (WLFI), a decentralized finance initiative linked to President-elect Donald Trump, has made headlines by expanding its Ethereum holdings despite the ongoing crypto market downturn. The initiative recently added another 759 ETH at an average price of $3,651, costing around $2.5 million. This move comes as WLFI has been actively purchasing ETH since December, using USD Coin (USDC) for the transactions.
As of present, WLFI’s Ethereum portfolio now contains 16,362 ETH worth $54.62 million. However, market volatility has impacted its overall ETH returns, with the initiative having spent $35 million on Ethereum at an average purchase price of $3,651 per ETH. Despite the recent drop in crypto prices, WLFI’s Ethereum losses have decreased to $3.4 million from earlier estimates.
According to data on Etherscan, the project purchased almost 1,481 ETH in a single day, continuing its strategy of buying during market cycles. These ETH were purchased at an average price of $3,374.79, bringing the total ETH purchases for the month to over 9,500 ETH. Additionally, WLFI swapped $10.4 million of Coinbase-backed cbBTC for Wrapped Bitcoin after Coinbase announced it would delist cbBTC.
WLFI’s crypto portfolio now includes 103.15 Wrapped Bitcoin (WBTC) worth $9.83 million, 6,137 AAVE tokens valued at $1.84 million, and 78,387 Chainlink (LINK) tokens totaling $1.75 million. The project also holds smaller amounts in tokens like ENA worth $740,000 and ONDO worth $230,000.
The decision to increase its Ethereum holdings during a market crash showcases WLFI’s confidence in the long-term potential of the cryptocurrency. Despite the current challenges in the crypto market, WLFI remains committed to its investment strategy and continues to actively manage its diverse crypto portfolio.
This move by WLFI comes at a time when the crypto market is experiencing heightened volatility, with prices fluctuating significantly. The initiative’s decision to increase its Ethereum holdings signals a bullish outlook on the future of the cryptocurrency market, despite the current challenges and uncertainties. As WLFI continues to navigate the evolving crypto landscape, its strategic investments and proactive approach set it apart as a key player in the decentralized finance space.