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LINK and AAVE soar after crypto project linked to Trump invests heavily in tokens
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The decentralized finance project (DeFi) World Liberty Financialassociated with the family of donald trumpstarted significant token movements. According to blockchain data, on December 11th, the project’s multisig wallet converted part of its USDC reserves into other cryptocurrencies.
Etherscan information, shared by the Lookonchain profile on X/Twitter, shows the wallet used US$10 million in USDC to acquire Ethereum (ETH) at the average price of $3,801. Furthermore, the project invested US$1 million in token AAVE the US$297.8 and more US$1 million in LINK at the average price of $24.2.
Since then, the assets have appreciated strongly. THE ETH, for example, it rose 5.3% in the last 24 hours, according to data from CoinGecko. Meanwhile, the AAVE token price soared by more than 30% in the last 24 hours to the current price of $363.93.
The price of the token LINK, from the Chainlink oracle network, jumped about 22% for more than $27.
DeFi project linked to Trump invests in tokens
Currently, the project portfolio linked to the Trump family holds approximately US$57.2 million in ETH, US$10.4 million in cbBTC, US$3.2 million in USDC and US$1.76 million in other reserves USDCin addition to tokens AAVE, LINK and memecoins that were sent to the wallet, possibly in an attempt to gain promotion from the project.
The movement occurs as a proposal from the World Liberty Financial to deploy a custom instance of Aave v3 is about to be approved. Put to vote on the day December 5ththe proposal has received almost unanimous support from token holders WLFIwith voting expected to close in the next few hours.
The proposal suggests the creation of deposit and loan markets for USDC, USDT, ETH and WBTC using the code Aave v3. In contrast, the AaveDAO would receive 20% of the fees generated by the new instance, in addition to 7% of the circulating supply of tokens WLFI. The proposal also provides for the distribution of tokens WLFI as an incentive for protocol users.
The token sale WLFIstarted in October 15thcontinues in progress. Initially, the World Liberty Financial planned to collect US$300 million. However, until November 24th had only registered US$22 million in sales.
However, the project gained momentum after Justin Sunfounder of Tronannounce an investment of US$30 million on the day November 25th.
To date, the token sale has raised approximately US$66.5 millionwith Sun’s contribution representing 45% of this total.
LINK and AAVE soar after crypto project linked to Trump invests heavily in tokens
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LINK and AAVE soar after crypto project linked to Trump invests heavily in tokens
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LINK and AAVE soar after crypto project linked to Trump invests heavily in tokens
