World Liberty Financiala Cryptocurrency project backed by the president-elect of the United States donald trumpcontinued to add momentum to the coins he was buying.
What happened
ONDO, a tokenization-themed cryptocurrency, soared more than 11% to hit all-time highs, becoming the market’s fourth-biggest gainer in the last 24 hours.
Trading volume for the coin grew more than 73% to $483 million, suggesting significant buying pressure.
ONDO serves as a governance token for Ondo Financea decentralized finance platform based on Ethereum (CRYPTO:ETH) that acts as a tokenizer for real-world assets.
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| Cryptocurrency | Earnings +/- | Price (recorded at 21:00 EDT) |
| Ondo (CRYPTO:ONDO) | +11.81% | $2.08 |
| Ethena (CRYPTO:ENA) | +8.25% | $1.28 |
Another Ethereum-based cryptocurrency, ENA, hit an eight-month high after seeing an 8% rise in the last 24 hours.
ENA is the native token of Ethena, a protocol that offers what is known as a “synthetic dollar” for decentralized finance applications.
The boom was fueled by significant purchases by World Liberty Financial. The decentralized finance project spent $250,000 to purchase 134,216 ONDO tokens on Sunday, according to Blockchain data.
Donald Trump’s World Liberty Financial (@worldlibertyfi) just spent 250K $USDC to buy the first 134,216 $ONDO an hour ago!
Overall, since November 30, this fund has spent $44.75M to buy 6 crypto assets:
• 8,105 $ETH (cost: $30M, avg buy price: $3,701), now +$2.12M
• 102.9… https://t.co/KBaKgqvvq1 pic.twitter.com/ez4dNwmATA
— Spot On Chain (@spotonchain) December 16, 2024
A day earlier, the fund acquired more than $500,000 worth of ENA at an average purchase price of $0.981.
Donald Trump’s World Liberty Financial (@worldlibertyfi) is buying $ENA!
3 hours ago, this fund spent 500,013 $USDC to buy the first 509,955 $ENA at an average price of $0.981.
Overall, since November 31, World Liberty Financial has spent $44.41M to buy 5 crypto assets,… pic.twitter.com/2jSNS2Oc00
— Spot On Chain (@spotonchain) December 14, 2024
Why is it important
Since the beginning of December, the project has invested more than $44 million to acquire cryptocurrencies such as Ether, Aave (CRYPTO:AAVE) and Chainlink (CRYPTO:LINK) together with ONDO and ENA.
World Liberty Financial is promoting itself as a decentralized money market that will allow users to borrow, lend and earn interest on cryptocurrencies.
Trump and his family have aggressively promoted the project, and a company associated with the president-elect, DT Marks DEFI, LLC, would receive 75% of the protocol’s revenue.
Trump positioned himself as the “crypto president” through several bold commitments, and his involvement with any cryptocurrency, no matter how minor, significantly piques market interest.
Photo courtesy of Shutterstock
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