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The Trump crypto business World Liberty Financial has bought up millions worth of Ether in the past day as the token has slightly strengthened against Bitcoin.
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The Donald Trump-backed crypto project World Liberty Financial has snapped up millions of dollars worth of Ether as the token has seen a slight uptick in strength against Bitcoin.
World Liberty Financial bought up 14,403 Ether (ETH) across a flurry of purchases on Jan. 19, worth a total of $48 million, Lookonchain posted to X on Jan. 19.
World Liberty’s total ETH holdings have now hit 33,630 ETH, worth over $107 million, according to Arkham Intelligence data.
Source: Sykodelic
The ETH/BTC ratio — which shows Ether’s relative strength to Bitcoin (BTC) has also seen a small jump, up 0.79% to 0.03197 after plunging 18% against Bitcoin over the previous six weeks, per TradingView data.
It comes after Trump’s surprise memecoin launch on Solana that sparked a rally in its native Solana (SOL) token, pushing it to an all-time high of $270.
World Liberty has not publicly revealed the motivation behind the ETH purchases. Trump’s son Eric, a World Liberty adviser, teased in a Jan. 19 X post that the platform has something in the works.
“Wait until you see what they do tomorrow,” he wrote.
Source: Eric Trump
The price of Ether has fluctuated between $3,133.98 and $3,439.78 in the last 24 hours but is currently down 1.5% on the day to $3,230, according to CoinGecko.
Google search volumes for “Ethereum” also saw a spike, with Google Trends showing the term reached its peak popularity on Jan. 19.
Trump’s wife, incoming First Lady Melania Trump, also launched a memecoin one day ahead of her husband’s US presidential inauguration.
Related: Insider trading allegations surface as TRUMP memecoin floods Solana DEXs
Donald Trump’s token saw $5 billion wiped off its market cap amid the launch of his wife’s memecoin, with its price falling 38% within 40 minutes, CoinMarketCap data shows.
Melania Trump’s self-titled memecoin MELANIA hit a value of $6 billion within under two hours. A website for the token says it was made for buyers to express their support.
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This article first appeared at Cointelegraph.com News
