Trump-linked World Liberty Financial buys over 3,400 ETH for $13.00 million, onchain data shows
Powered by ChatGPTWorld Liberty Financial, a crypto project linked to U.S. President Donald Trump, spent millions to acquire more Ethereum on Tuesday as the cryptocurrency sees surging institutional demand.
Citing Arkham Intelligence data, onchain researcher Lookonchain reported that World Liberty added 3,473 $ETH at an average price of $3,743 across a number of wallets during Tuesday evening. It appears to have staked some of the newly acquired ether.
The project currently owns roughly 73,616 $ETH, worth about $275.9 million at current market prices, according to Lookonchain.
World Liberty's move comes amid rising institutional demand for ether. On Tuesday, spot Ethereum exchange-traded funds recorded $533.9 million in net inflows, while spot bitcoin ETFs saw a net outflow of $67.9 million, according to SoSoValue data.
The Block's price page shows that ether remained flat in the past 24 hours at $3,729. However, the second-largest cryptocurrency rose 20% in the past week and 67.1% in the past 30 days.
Meanwhile, World Liberty is preparing for the upcoming unlock of its WLFI token. The team said last week that it is aiming to have WLFI to officially begin trading within the next two months.
"We're targeting 6 to 8 weeks for the full awakening — strategic alignments (alliances, grand stages, smart unlocks) take time to realize full potential," the project said last week. [Lookonchain]