Justin Sun, Founder of Tron (TRX), has acquired $200 million of WLFI tokens after the World Liberty Financial (WLFI) Token Generation Event (TGE). The U.S. President Donald Trump endorsed the governance token, which unlocked 20% of its 100 billion token supply.
Sun acquired a total 600 million WLFI, which is equivalent to 3% of the 20 billion unlocked tokens. Arkham Intelligence estimates that he currently has about $891.2 million of WLFI, not including the original unlock.
Despite the massive token claim, Sun reassured investors, stating he has “no plans to sell our unlocked tokens anytime soon,” and that he shares the long-term vision of WLFI.
Alongside the WLFI acquisition, Sun also promised to expand the USD1 stablecoin circulating supply by $200 million on Tron. USD1 is pegged to the US dollar and has connections to the WLFI ecosystem.
WLFI’s market activity has been remarkable. At the time of writing, as per data from CoinMarketCap, WLFI was trading at $0.2418 per token, up 6% in the last 24 hours following the TGE. The project had a market cap of $6.0 billion and a fully diluted value of $24.17 billion.
The token briefly surged to $0.40 before the unlock, fueled by strong interest in derivative futures markets. Trading volume reached $2.57 billion in 24 hours, accounting for 41% of its market cap.
Justin Sun’s strong commitment to WLFI, together with the Trump endorsement, is keeping the project in the limelight. Nevertheless, investors must consider risks thoroughly before getting into this politically and financially charged DeFi token.
Also Read: Trump’s WLFI Token Starts Trading With $5.4 Billion Market Value
