A wallet associated with U.S. President Donald Trump's World Liberty Financial (WLFI) has sold around 173 wrapped Bitcoin on Aave V3. According to NS3.AI, this transaction was made to repay $11.75 million in USDC stablecoin debt, thereby avoiding liquidation as Bitcoin's price dropped below $63,000. This action highlights a strategy of voluntary deleveraging, where major holders opt to sell their collateral at more favorable prices instead of facing discounted auctions initiated by protocols.
The broader cryptocurrency market is currently undergoing significant deleveraging and liquidation events. These developments are being intensified by ETF outflows and a decline in demand from institutional investors.
