Connect with us

Hi, what are you looking for?

Eth
Eth

Cryptocurrency

Trump-Backed Crypto Project Invests $48 Million in Ethereum amid Market Buzz

Donald Trump’s crypto company, World Liberty Financial, made a bold $48 million Ether acquisition as the currency gains traction versus Bitcoin. The move has spurred discussion about the project’s next major milestone.

Donald Trump’s cryptocurrency endeavor, World Liberty Financial, has acquired 14,403 Ether (ETH) for $48 million in acquisitions. This substantial investment, made on January 19, comes as Ether begins to show resistance versus Bitcoin.

The ETH/BTC ratio, which measures Ether’s performance relative to Bitcoin, increased 0.79% to 0.03197 after falling 18% in the previous six weeks. Following the latest buy, World Liberty Financial’s overall Ethereum holdings have increased to 33,630 ETH, totaling more than $107 million.

This strategic approach coincides with the increased market activity surrounding Ether. Trump’s recent creation of a memecoin on the Solana network sparked a rise in the Solana token, sending its price to an all-time high of $270.

While World Liberty Financial has not divulged the reasons for its rapid Ether purchases, Eric Trump, the project’s consultant, hinted at upcoming developments on social media, saying, “Wait until you see what they do tomorrow.”

Ether’s price has fluctuated between $3,134 and $3,440 during the last 24 hours, eventually settling at roughly $3,230. Simultaneously, interest in Ethereum has increased, with search trends indicating a peak in popularity for the phrase “Ethereum” on January 19.

To add to the excitement, Melania Trump recently established her own memecoin ahead of her husband’s presidential inauguration. While her token swiftly gained traction, it also faced dramatic market corrections, demonstrating the volatile nature of the cryptocurrency industry.

As World Liberty Financial’s aggressive Ether move gains attention, the crypto market reacts, highlighting the growing impact of Trump-backed initiatives on investor sentiment.

author avatar
CryptoCorn
CryptoCorn is Editor and Author at 4C Media Co. and covers all stories and news related to Crypto & Finance. Excellent blogger and Passionate Crypto Trader. Follow her on twitter at @cryptocorn7.
Advertisement

You May Also Like

Cryptocurrency

This week’s Crypto Chronicle explores Ripple's potential SEC settlement, Canada’s leap ahead with Solana ETFs, growing controversy around MANTRA token, and Meta’s aggressive push...

Exclusive

A look into the meme coin that is ruling social media and Solana. In crypto, memes don’t just stay memes anymore. There is money...

Cryptocurrency

Cryptocurrency exchange Bitget faced an unexpected disruption on April 20 as trading on the futures contract VOXEL/USDT exploded. According to their statement, within 30...

Finance

Big names in crypto like Circle and BitGo plan to file applications for banking charters in the United States, similar to the WSJ. The...

polkadot
Polkadot (DOT) $ 4.25 3.61%
bitcoin
Bitcoin (BTC) $ 93,646.00 0.12%
ethereum
Ethereum (ETH) $ 1,767.90 1.87%
cardano
Cardano (ADA) $ 0.718973 2.81%
xrp
XRP (XRP) $ 2.20 1.17%
stellar
Stellar (XLM) $ 0.279899 4.70%
litecoin
Litecoin (LTC) $ 84.35 1.14%