World Liberty Financial, a decentralized finance entity linked with former US President Donald Trump and his family, has significantly increased its cryptocurrency assets ahead of the impending White House Crypto Summit, as per recent on-chain data findings.
Last Thursday, the on-chain data disclosed that World Liberty Financial has significantly enhanced its treasury, garnering $10 million in ether (ETH), $10 million in Wrapped Bitcoin (WBTC), and $1.5 million in MOVE tokens, the native currency of the Movement Network blockchain ecosystem. Nansen, a blockchain analytics company, posted on its platform that Trump’s project, World Liberty Financial, has made a $25 million crypto move, hinting at more to follow.
Arkham Intelligence’s data further showcased World Liberty Financial’s significant Ethereum holdings growth over the past week, increasing from approximately 2,200 ETH on Monday to over 7,000 ETH by Thursday.
The timing of these acquisitions is crucial, considering they coincide with the upcoming White House Crypto Summit. Here, ex-President Trump is set to interact with leading cryptocurrency founders. The summit intends to discuss future cryptocurrency regulations and the potential establishment of a strategic crypto reserve by the U.S.
Bitcoin’s price increased by over 3% in the last 24 hours as investors anticipate signals from Friday’s summit on future market trends. Bitcoin momentarily reached $92,700 before falling back to $91,380 amid profit-booking. Among the top ten cryptocurrencies, Dogecoin led the rally with a 4% surge, while Solana and Ether posted around 3.8% and 2.3% gains, respectively. However, Cardano’s trading remained stagnant.
Thursday’s market recovery boosted bullish sentiments after a volatile week. On Sunday, Trump announced a strategic crypto reserve, potentially including XRP, ADA, and ether. But, enthusiasm faded as the week progressed and the market retracted due to new U.S. tariffs, causing traders to anticipate further details.
Market analysts expect more price movement leading up to Friday’s event, with the market awaiting greater regulatory clarity for the cryptocurrency sector. According to QCP Capital analysts, “This Friday marks a historic milestone — the first-ever White House Crypto Summit. However, without any concrete executive orders, funding commitments, or congressional backing in place, the market remains in wait-and-see mode.”
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