On January 19, 2024, Trump-backed crypto project World Liberty Financial spent $48 million to acquire 14,403 Ether (ETH) through a series of purchases. This move coincided with Ethereum's slight strength relative to Bitcoin. According to Lookonchain data, World Liberty Financial currently holds 33,630 ETH, with a total value of more than $107 million.
ETH/BTC rebounds strongly: Behind Ethereum's rebound
According to TradingView data, on January 19, the ETH/BTC ratio rose slightly, up 0.79% to 0.03197. In the previous six weeks, the ETH/BTC exchange rate plummeted by 18%. This increase means that Ethereum's strength relative to Bitcoin is gradually recovering. This change may be part of the reason why World Liberty Financial increased its investment in Ethereum, reflecting its optimism about the market prospects of Ethereum.
The Mysterious Purchase of Trump's Crypto Project
Although World Liberty Financial has not publicly disclosed the specific reasons for its large-scale purchase of Ethereum, the platform's advisor, Eric Trump, hinted in a social media post on January 19 that World Liberty Financial is preparing certain new initiatives. He wrote, 'Stay tuned to see what they will do tomorrow.' This suggests that, in addition to purchasing Ethereum, the project team may have other significant actions in the works.
Melania Trump Launches Meme Coin, Triggering Market Volatility
Meanwhile, Melania Trump, the wife of Trump, launched a meme coin called MELANIA the day before her husband's inauguration as President of the United States. This token reached an astonishing market value of $6 billion in just two hours, showcasing the enthusiasm of the meme coin market. However, after the launch of this token, the market value of the Trump token evaporated by $5 billion, and the price plummeted by 38% within 40 minutes, reflecting the high volatility of the crypto market.
The Potential of Ethereum and the Trump Family's Crypto Layout
The Trump family's interest in the crypto market is becoming increasingly evident. The purchase of Ethereum by World Liberty Financial may be related to its analysis of market trends, especially in the context of differing performances between Bitcoin and Ethereum. Melania's meme coin represents the Trump family's exploration and experimentation in the crypto market, and this series of actions indicates that the Trump family is deeply engaging in the field of cryptocurrencies, with more innovative initiatives likely to come in the future.
Ethereum and Trump's Crypto Strategy
The crypto projects supported by Trump reflect his confidence in the asset through the purchase of Ethereum, especially against the backdrop of Ethereum strengthening relative to Bitcoin. As the Trump family further establishes itself in the crypto space, more dynamics may arise to attract market attention. Do you think Ethereum can continue to outperform Bitcoin in the coming months? Feel free to share your thoughts in the comments!
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