Donald Trump’s venture into the world of cryptocurrency has made a significant splash with the launch of World Liberty Financial on September 1. The project, which boasts a market valuation of over $7.4 billion, saw a surge in trading activity immediately after going live.
CoinMarketCap data revealed that WLFI experienced a 13% increase to $0.2525 shortly after its debut, with trading volume exceeding $1.8 billion across various exchanges. This surge in activity also had a ripple effect on the broader market.
Ethereum gas fees, which had been minimal prior to the token’s launch, skyrocketed to over 60 gwei as traders rushed to settle WLFI transactions on the chain, according to Milk Road data. This spike in gas fees underscored the immense interest generated by the Trump-linked token among both retail traders and institutional investors.
The WLFI token distribution was outlined in a blog post by the World Liberty Financial team on September 1. A total of 24.6 billion WLFI tokens were introduced into circulation, with 10 billion tokens retained by the project’s parent company and 7.78 billion tokens allocated to Alt5 Sigma Corporation for its treasury strategy.
Additionally, nearly 2.9 billion tokens were earmarked for exchange activities to maintain liquidity and support early marketing efforts. Over 4 billion tokens were distributed to public sale participants, with 20% of the initial allocation unlocked at launch. The remaining 76 billion tokens are subject to vesting schedules or locked and belong to strategic partners, the project team, and the treasury.
Donald Trump Jr. emphasized that WLFI is designed as a governance layer rather than a speculative asset, highlighting its long-term mission. Justin Sun, founder of Tron, publicly aligned himself with the project and pledged not to sell his unlocked holdings. He also announced an expansion of USD1 circulation on Tron to $200 million to coincide with the launch, linking the success of WLFI with the growth of stablecoins on his blockchain.
In conclusion, World Liberty Financial’s entry into the crypto space has caused a stir, with its market valuation and trading activity making waves in the industry. The project’s unique approach to token distribution and governance, coupled with the support of prominent figures like Donald Trump Jr. and Justin Sun, has positioned WLFI as a key player to watch in the evolving landscape of cryptocurrency.