TRON protocol native token TRX has regained momentum and increased attention from crypto traders following the massive TRX accumulation by World Liberty Financial, Inc (WLFI). Backed by United States President Donald Trump, WLFI is a Delaware non-stock corporation which is developing the WLF protocol and operating the WLF governance platform.
World Liberty Financial bags 30M+ TRX
On 20 January 2025, WLFI made a market-shaking announcement via its X account where it revealed that the corporation made several strategic crypto purchases to mark Trump's inauguration as the 47th POTUS. According to the update, WLFI bought a whopping 19.3 million TRX in one transaction, worth $4.7 million at the time of execution.
Notably, the Trump-backed financial institution also invested heavily in other crypto assets, including ether (ETH), Wrapped bitcoin (wBTC), Aave (AAVE), Chainlink (LINK) and ENA. Particularly, WLFI bought $47M worth of ETH and wBTC each and $4.7 million worth of AAVE, LINK and ENA each. In total, the funds spent $112.8 million on Monday.
Excited for the future ahead, World Liberty Financial spent another $2.65 million USDT to accumulate 10.81 million TRX on 22 January 2025, according to blockchain analytics platform SpotonChain. This positive development increased their total TRX accumulation to 30.11 million in three days. Likewise, the firm increased its ETH investments to nearly $100 million within the same period.
“In the past 3 days, the fund has spent a total of $168.4M on 6 tokens, including $99.95M on $ETH, $47M on $WBTC, $7.35M on $TRX, $4.7M each on $AAVE, $ENA, and $LINK,” SpotonChain wrote
TRX back on crypto investors' radar amidst rising price and market capitalization
WLFI's strategic purchases of TRX have caused the cryptoasset to regain momentum, bringing it to the watchlist of several crypto traders and investors. Following the 30.11 million TRX accumulation by World Financial Liberty, TRX’s market capitalization rose over 14% in three days — from $19.4 billion on Monday to $22.3 billion on Wednesday.
However, the altcoin’s market valuation declined briefly to around $21.15 billion on Thursday amidst a wider market dump before rebounding to $21.6 billion at the time of reporting. As of 23 January 2025, TRX is the 10th largest cryptocurrency by market capitalization.
Similarly, TRX, which fell to $0.224 on Monday gained over 11% to reach $0.257 per coin on Wednesday. Amidst a broader crypto market dump fueled by a decline of over 40% in $TRUMP price, TRX plummeted below $0.245 on Thursday. Interestingly, it has reclaimed the $0.252 price level at the time of writing.
Notably, TRX reached an all-time high of $0.44 in December 2024. With over 13,500 holders and on the watchlist of over 287,500 market participants, TRX could be in for an explosive rally in the current bull cycle. Moreover, increased interest and accumulation by institutions such as the Trump-backed World Liberty Financial could be a pointer to a bullish future for the TRON protocol native token. Is WLFI driving the highly-anticipated altseason? Moreover, with bitcoin (BTC) holding strong above $100,000, the bull season appears to be imminent.
Posted Using INLEO