- World Liberty Financial acquires significant amount of Ether
- ETH/BTC ratio shows slight uptick in Ether’s strength
What happened: Trump’s crypto project acquires $48M in Ethereum
Donald Trump’s crypto project, World Liberty Financial, has made a substantial purchase of Ethereum (ETH) as the cryptocurrency has shown a slight increase in strength against Bitcoin (BTC). According to data from Lookonchain, the project bought 14,403 ETH on 19 January, worth approximately $48 million.
This has increased World Liberty Financial’s total ETH holdings to over 33,630 ETH, valued at more than $107 million, based on data from Arkham Intelligence. The ETH/BTC ratio has also seen a minor increase, rising 0.79% to 0.03197, after a significant drop of 18% over the previous six weeks.
This move follows Trump’s surprise memecoin launch on Solana, which sparked a rally in Solana’s native token (SOL), pushing it to an all-time high of $270. The motivations behind the ETH purchases have not been publicly disclosed, though Eric Trump, an adviser to World Liberty Financial, hinted at upcoming developments in a 19 January X post.
Also read: Crypto stocks slide as Harris gains ground after presidential debate
Also read: Bitcoin ETFs lose $1.2B in 3 days, longest since Trump
Why it’s important
The recent actions by World Liberty Financial highlight the growing intersection of high-profile individuals and cryptocurrency markets. The purchase of a significant amount of ETH not only reflects confidence in the Ethereum blockchain but also suggests potential strategic moves within the crypto space.
Additionally, the launch of Trump and Melania Trump’s memecoins has sparked widespread interest and debate over the influence of political figures in the crypto market. This trend underscores the evolving dynamics of cryptocurrency adoption and its increasing relevance in mainstream financial and political discussions.
