Rumours are trending online that the Crown Prince of Saudi Arabia, Mohammed bin Salman is starting a strategic reserve with WLFI, the native token of World Liberty Financial token, a defi project backed by the Trump family. The rumor further said the prince plans to make the purchase via a sovereign wealth fund.
This has got the crypto space shocked. Some even believe this could propel this price up to $1 or even $2. But so far, this remains unconfirmed. In fact, there’s no statement about this from either World Liberty Financial or the Crown Prince.
This is coming just a few days after the token was launched on multiple exchanges. According to previous reports, WLFI opened at an initial price of $0.20 and quickly surged in just a few hours. Data from CoinMarketCap shows that the token recorded over 60 million percent in trading volume within that period.
However, the excitement from early trading has died down and the token has since dropped 4.13%. Currently, it is trading for $0.219 with a 64.45% drop in market activity to $1.19 billion in volume.
In short, the token could indeed see a pump to $1 if the rumours were true. Also, considering the fact that it is linked to the U.S. president, Donald Trump and his family. However, there’s no confirmation on this, and it remains just a rumour.
Also Read: World Liberty Burns 47M WLFI Tokens After Historic Launch
