Whales are making aggressive moves in WLFI, raising questions about the token’s stability only hours after its exchange debut. The Trump-backed World Liberty Financial token (WLFI) launched today at $0.30, securing a $30 billion fully diluted valuation. It spiked briefly above $0.33 before losing steam.
As of writing, WLFI is trading at $0.2399, which reflects a 4.97% increase over the last 24 hours, with a trading volume of $2.49 billion. This puts WLFI in the 25th spot among crypto assets by market cap, indicating a solid level of liquidity even with the selling pressure.
Whale Transactions Create Shockwaves
As confirmed by Coinbureau data on X, whales are unloading millions in WLFI. Over 26 million WLFI worth $7.7 million passed through BitGo’s WalletSimple. Similarly, another 10.9 million WLFI valued at $3.3 million flowed into Binance’s hot wallet. Several other transfers ranging from $4 million to $7 million emerged across Gate and Jump Crypto.
Besides these sales, trading activity is split between bulls and bears. Lookonchain’s latest update on X shows that one wallet opened a $6.84 million long, while another placed a $1.32 million short. Additionally, WLFI itself spent $2 million USDC to buy back 6.5 million WLFI at $0.3078, showing active intervention.
Early Price Action Raises Concerns
Analyst BitBull described a chart he shared on X as a textbook “buy hype, sell fast playbook.” In the chart, the token showed an explosive launch, then quickly slipped into red candles. There were brief rebounds, but the selling pressure continued to pull prices down toward $0.23.
Additionally, trader Quinten mentioned he wouldn’t sell unless the price was at least 16% above OTC pricing. He described the launch as “disappointing in price action but strong in hype and volume.”
WLFI made its entrance into the market with incredible hype, solid liquidity, and listings across multiple exchanges. However, the dumping by whales shows the risks that come with early-stage volatility.
Also Read: Prediction Market Myriad Hits $10M USDC Trading Volume
