- World Liberty Financial has begun purchasing ETH and other tokens after recent dormancy.
- The purchases caused Ethereum to witness modest price surges in the past few hours.
The digital assets market has managed to remain in its recovery lane over the past 24 hours. Bitcoin is currently trading at $92,000 after much turmoil this week. While investors wait with bated breath to see its consistency, other aspects regarding the US crypto reserve have been advancing.
Notably, just a few hours ago, World Liberty Financial, Donald Trump’s DeFi project began showing activity. According to Arkham Intelligence reports, it sent USDC worth $25 million to a separate contract. This contract then purchased $10 million in ETH, $10 million in WBTC, and $1.5 million in MOVE.
The project has been focusing on increasing its ETH holdings over the past few weeks. World Liberty Financial currently holds 7.092K ETH. Meanwhile, its WBTC holdings stand at 162.69. In the past day, following its purchase, the DeFi project is still continuing to buy ETH in small amounts.
Trump’s project, approximately since the last 2 hours, has been exchanging USDT tokens for ETH as per Arkham Intelligence data. Its other altcoin holdings include Tron, MOVE, ONDO, and Wrapped ETH among others. Its MOVE holdings stand at 7.581M tokens worth $3.57 million.
How Did World Liberty Financial Purchases Affect the Market?
After the World Liberty Financial token purchase, Ethereum has witnessed a 5% surge in price. In the morning hours of February 6, it began increasing significantly to reach the $2,300 level once again.
Meanwhile, Bitcoin also saw a price surge as aforementioned. Although the causative factors may not be limited to World Liberty Financial’s purchase, the cryptocurrency is currently surging. MOVE token has also factored in a price increase of 24% in the last 24 hours.
Previously, the DeFi Project was seen making altcoin purchases during January. Additionally, it also floated the idea of setting up a strategic reserve specifically for the project last month.
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