CoinGecko’s WLFI data shows that World Liberty Financial has surged by 9.4% in the last 24 hours. The rally comes after the Trump family announced a $2.3 billion profit from its crypto ventures. A majority of the First Family’s profits came from World Liberty Financial (WLFI). The second largest contributor was the Official Trump (TRUMP) memecoin. Let’s discuss if the Trump Family-backed World Liberty Financial (WLFI) can sustain its recent upswing.
Can Trump’s World Liberty Financial Pivots From Trend: Why?
World Liberty Financial’s (WLFI) price surge comes amid a market-wide correction. Bitcoin (BTC) is trading at the $62,000 price level, a significant dip from its $82,000 level in May. WLFI is one of the few cryptocurrencies that are trading in the green zone today. The rally could be tied to the Trump family’s profits from the crypto ventures, which may have led to increased FOMO (Fear Of Missing Out) among investors.
World Liberty Financial’s (WLFI) rally is rather anomalous. The larger crypto market is in bear territory and investors have increasingly withdrawn from high-risk assets. High inflation figures have substantially reduced the chances of an interest rate cut, further creating angst among crypto investors. The re-escalation of the US-Iran conflict has added to investor worry. Given the larger market environment, it is possible that World Liberty Financial (WLFI) will face a price correction in the coming days. Investors could choose to book profits and move their funds to safer bets.
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However, there is a chance that World Liberty Financial (WLFI) will sustain its rally at least for a couple of days. The US is close to passing the CLARITY Act which could elevate investor sentiment. Moreover, President Trump said that Israel will have no option but to accept a deal with Iran. The move could trigger some bullish sentiment among investors.