Ethereum is under pressure following a $200 million sell-off by whales, leading to a 4% drop in price to $3,683. With significant resistance at $3,800-$3,900 and a slowdown in institutional demand, the market faces challenges unless buying interest resurfaces. Liquidations reached $124 million, indicating bearish sentiment persists.
World Liberty Financial, backed by President-elect Donald Trump, has sparked a rally in DeFi tokens, notably ONDO and ENA. ONDO surged over 11% to new highs, while ENA rose 8%, following significant purchases by the project, which has invested over $44 million in various cryptocurrencies since December. Trump's involvement has heightened market interest, positioning him as the "Crypto President."
World Liberty Financial, a cryptocurrency project backed by Donald Trump, has acquired $10 million in Ethereum, increasing its total ETH holdings to approximately 14,571, valued at over $56 million. The project, launched as a hard fork of Aave, aims to facilitate borrowing, lending, and earning interest on cryptocurrencies, with a governance token, WLFI. Despite initially targeting a $300 million raise, it has secured $55.69 million, aided by a $30 million investment from Justin Sun, while Trump's associated firm is set to receive 75% of the protocol's revenues.
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