Trump family project spent 1 million USDC to buy ETH! What signal is hidden in this on-chain operation?
The Trump family's cryptocurrency project WLFI spent 1 million USDC 22 hours ago, purchasing 256 ETH at an average price of 3895 dollars.
Firstly, 1 million USDC is not a small amount, especially for a project that has its own 'topic attribute'. Suddenly coming in to buy ETH seems to be sending a signal: either they have enough ammunition on hand and want to stabilize their position by allocating mainstream coins, or they plan to use ETH for subsequent actions, such as liquidity reserves or ecosystem building.
From on-chain data, the timing of this ETH purchase is quite clever. Recently, ETH has been in the 3800-3900 range. While not a historical high, it’s also not a low point. Choosing to make a move in this range indeed reflects the style of a big family, hahaha🤣
For us ordinary players, rather than blindly following trends with these large on-chain actions related to 'celebrity projects', it might be better to observe: let's see if WLFI will use this ETH for new actions, which could also give us insights into the funding strategies of such projects.
But to be honest, I find anything Trump does unsurprising. However, these projects that come with their own traffic make every large transfer seem like a 'shout out'. It just depends on whether the market picks up on this signal. Friends, what do you think about this matter! $ETH