Trump-Backed DeFi Initiative World Liberty Finance Sees Surge in ETH Holdings

World Liberty Finance has seen its ETH holdings increase significantly, more than doubling within a week, as reported by data from Arkham Intelligence. The project’s ETH assets rose by 180% in just a few days, climbing from about 2,200 ETH on Monday to over 7,000 by Thursday.

Arkham indicates that Ethereum is the top asset held by World Liberty, now amounting to 7,094 ETH valued at approximately $16.2 million.

World Liberty Holdings Decline

On March 6, Arkham notified users that World Liberty Financial had transferred $25 million in USDC to another contract. This contract went on to acquire $10 million in ETH, $10 million in wrapped Bitcoin (WBTC), and $1.5 million in a token known as MOVE.

MOVE represents the native token of the Movement Network, a blockchain programming language backed by venture capital that allows for EVM (Ethereum Virtual Machine) compatibility. Following the purchase by the Trump DeFi platform, the token saw a remarkable 26% surge in value within a few hours.

Despite this activity, the nine tokens acquired by World Liberty have faced a total loss of $89 million, as reported by Lookonchain on March 6. This decline is attributed to the negative repercussions of Trump’s trade policies on the cryptocurrency market.

In addition to its holdings in ETH, WBTC, and USDT, World Liberty also owns 40 million Tron (TRX) tokens valued at $10 million, 10 billion WhiteRock (WHITE) worth $3.4 million, along with several lesser-known tokens like ONDO, COLLE, GROK, and HOPPY.

Ethereum continues to be the standard in the DeFi space, holding a market share of 52.6% in total value locked, based on information from DeFiLlama. However, it has recently lost some market share to Solana, which has risen to an 8.4% share with a TVL of $9 billion.

Solana experienced a significant downturn as well, primarily linked to the collapse of the meme coin market that had heavily utilized its network for minting and trading activities.

ETH Price Movements

ETH has seen a resurgence in the last 12 hours, gaining just over 6% and reaching $2,300 during Thursday’s Asian trading session.

Despite this recovery, the asset had dipped to a 16-month low of slightly above $2,000 earlier in the week, with analysts cautioning about a potential major drop in ETH prices if the head and shoulders chart pattern fails.

At present, ETH seems to have bounced back from support levels and is gradually climbing, although it still remains down 16% over the past two weeks.