Donald Trump launched his official meme coin $TRUMP on Saturday (18th), and the coin price has been soaring from around $0.18 at opening to over $75 on Binance this morning. As the token is launched on the Solana blockchain, there have been increasing voices in the community to "sell ETH and buy SOL", leading to new highs for SOL while ETH remains weak.
World Liberty Financial started accumulating ETH last night
However, against this backdrop, the Trump family's DeFi project World Liberty Financial (WLFI) started accumulating ETH last night, boosting ETH's price to over $3,400. But later, due to a rapid Bitcoin drop, ETH also fell back, giving up most of the earlier gains.
According to on-chain analyst Ashes, WLFI spent $48 million USDT to purchase 14,403 ETH in the past 12 hours, at an average price of $3,333. It's also worth noting that Eric Trump, the second son of Donald Trump, hinted earlier around 9 am that there might be big news about ETH today.
As Donald Trump will be officially inaugurated as the new US President tonight, whether he will mention ETH or if WLFI will announce any new actions on Ethereum has become a hot topic in the community.
Trump's Wealth Surges
Regardless, with CIC Digital LLC and Fight Fight Fight LLC, two companies owned by Trump, holding 80% of the $TRUMP supply, if all these belong to Trump, his net worth has surged by $36 billion over a weekend at the current price of around $45 (based on the fully diluted value, with a total supply of 1 billion $TRUMP and 200 million currently issued).