Trump-Backed Crypto Project Makes Huge Ethereum Purchase

World Liberty Financial (WLF), the cryptocurrency project backed by the Donald Trump family, is aggressively increasing its Ethereum (ETH) investments. The project recently purchased 3,473 ETH, bringing its total Ethereum holdings to 73,616. This purchase involved $13 million worth of USDC stablecoin.

New $13 million purchase: $3,743 per ETH

According to data from on-chain analytics platform Lookonchain, World Liberty Financial made its latest purchase at an average unit price of $3,743. This move brings the company's total Ethereum investment to approximately $275 million. The average purchase price is $3,272. This represents an unrealized profit of approximately $33 million based on WLF's current market capitalization.

Last week, WLF purchased 3,007 ETH worth $10 million, continuing to capitalize on Ethereum's upward trend. Previously, in May, he purchased 1,587 ETH worth $3.5 million.

Institutional influence on the market: ETH price reacts

Such large purchases, especially from institutional investors, can have a direct impact on the Ethereum market. Indeed, following the latest purchase, the ETH price rose to $3,763 daily. Weekly and monthly returns have also reached remarkable levels. Ethereum appears to be moving with bull market momentum.

Institutions and whales flock to ETH

World Liberty Financial's ETH holdings are not an isolated incident. A growing number of institutional investors are also turning to Ethereum. For example, investment firms SharpLink and Bitmine have recently increased their ETH holdings. Even more striking is the investment giant BlackRock's increased interest in Ethereum and its focus on crypto assets beyond Bitcoin.

Another development supporting institutional interest is the new venture called Ether Machine. This $1.6 billion project is backed by industry giants like Archetype, Blockchain.com, Pantera Capital, Electric Capital, and Kraken. Such projects contribute to Ethereum gaining greater confidence among institutional investors as an investment product.

ICO whales are also waking up

Not only institutional investors but also long-standing Ethereum holders, who had been dormant for years, are starting to re-enter the market. For example, an Ethereum "whale" from the ICO era made its first move in nearly a decade, sending 1 ETH. This wallet still holds $2.44 million in unrealized gains.