Trump's WLFI cryptocurrency rises to $1 billion ahead of unlocking

Trump's WLFI cryptocurrency rises to $1 billion ahead of unlocking

Derivatives of Trump's WLFI token saw a significant increase in the hours leading up to the planned unlocking. Open interest in World Liberty Financial token contracts approached nearly $1 billion, fueling speculation of further growth.

On Monday morning, interest in WLFI derivatives rose to nearly $950 million and then fell slightly to $887 million. Still, that's 45% more than 24 hours ago. The trading volume of these contracts has grown more than fivefold over the past day to $4.54 billion, putting WLFI in fifth place among the most traded cryptocurrency derivatives.

The token's price is now hovering around 34 cents, down from last week's high of over 40 cents, but its potential is still great. If the price holds, WLFI could have a market value of up to $34 billion with a total supply of 100 billion tokens, putting it in the top 10 largest cryptocurrencies on the market. This would mean that it would surpass Dogecoin or Tron, for example.

An important event is the unlocking of 20% of tokens, which is scheduled for today. World Liberty has announced that it will begin unlocking tokens purchased by early supporters on September 1. Major exchanges such as Binance and Kraken have already confirmed the inclusion of WLFI in their trading.

Binance is the largest player in the WLFI market, with half of all 24-hour trades taking place on the platform, representing over 10 million trades and roughly half of the total volume. The total value of unlocked tokens is estimated to reach $1.7 billion.

World Liberty has already raised $550 million from token sales and is planning further rounds of sales, including an offering of 20 billion tokens at 1.5 cents in October. Funding is key to the development of its Ethereum-based platform, which is intended to serve as a management and lending token, among other things.

Interestingly, US President Donald Trump is identified as a major supporter of this cryptocurrency, while his sons Barron, Eric, and Donald Trump Jr. are seen as "Web3 ambassadors." With their involvement, the company earns approximately 75% of the protocol's revenue.

It looks like WLFI is on its way to becoming one of the most important cryptocurrencies, and its unlocking could bring significant changes to the market.

*This is not an investment recommendation.

The Coingarage Team