World Liberty Financial, a crypto project backed by Donald Trump, recently purchased $48 million worth of Ethereum (ETH). With this latest acquisition, the project’s total Ethereum holdings have now reached 33,630 ETH, valued at over $107 million.
World Liberty Financial total Ethereum holdings have now reached 33,630 ETH. Source: Arkham IntelligenceThis comes as the token showed slight improvement in its performance against Bitcoin.
ETH/BTC Ratio Shows Minor Recovery
The ETH/BTC ratio, which reflects Ethereum’s strength compared to Bitcoin, saw a modest increase of 0.79%, rising to 0.03197. This comes after the ratio dropped by 18% over the previous six weeks, according to TradingView.
ETH/BTC ratio saw an increase of 0.79%, rising to 0.03197. Source: TradingViewThe price of Ether fluctuated on Jan. 19, ranging between $3,133.98 and $3,439.78. However, by the end of the day, it recorded a 1.5% decline, settling at $3,230. Simultaneously, interest in Ethereum spiked among internet users, with Google Trends showing peak search popularity for “Ethereum” on the same day. However, today on Jan.20, Bitcoin reached an all time high of $109k during Donald Trump inaugration event.
This major Ethereum purchase follows a surprising move by World Liberty Financial to launch a memecoin on the Solana blockchain. The launch caused Solana’s native token price to rally to an all-time high of $270. While the exact purpose behind the recent Ethereum acquisition remains undisclosed, Eric Trump, a World Liberty Financial adviser and Donald Trump’s son, hinted at upcoming developments. In a Jan. 19 post on X, he stated, “Wait until you see what they do tomorrow.”
Donald Trump Family Launching Memecoin Back-To-Back
Adding to the family’s crypto involvement, Melania Trump, Donald Trump’s wife, launched her own memecoin, MELANIA, just one day before her husband’s U.S. presidential inauguration. The token quickly gained the community’s attention, reaching a market value of $6 billion in under two hours. According to its official website, the memecoin allows buyers to express their support.
However, this launch adversely affected Donald Trump’s token, wiping $5 billion off its market capitalization. The token’s price plummeted by 38% within 40 minutes of the memecoin’s release.
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