World

Liberty

Chainlink

<p>Chainlink (LINK) is trending in X as it gets closer to $30 for the first time since 2021, thanks to the whale activity and a big investment coming from Donald Trump’s decentralized finance (DeFi) platform, World Liberty Financial (WLFI)</p>
<p>According to a report shared by Lookonchain on X, World Liberty Financial (WLFI) purchased 41,335 LINK tokens for $1 million, paying an average of $24.2 per token. The project also made large investments in Ethereum (ETH) and Aave (AAVE), acquiring $10 million worth of ETH and $1 million in AAVE through its publicly tracked multisignature wallet. This large LINK investment soon caused ripples across the crypto market, pushing prices higher.</p>
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  <img width="860" height="470" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/World-Liberty-Financial-Multisig-Wallet-spent-10M-USDC-to-buy-2631-ETH-860x470.png" alt="World Liberty Financial Multisig Wallet spent 10M $USDC to buy 2,631 $ETH">
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   World Liberty Financial Multisig Wallet spent 10M $USDC to buy 2,631 $ETH | Source: <a href="https://x.com/lookonchain/status/1867036708983935325" target="_blank" rel="noopener noreferrer nofollow">X</a>
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<p>This made whales interested in taking action. An investor bought $4.94 million worth of LINK at an average price of $28.18. Bybit, one of the leading crypto exchanges, also reported $341.7 million in LINK-related trades, while overall open interest hit a record $656 million on December 12, with 70% long positions dominating major exchanges.</p>
<p>Shortly after WLFI purchase, LINKS price shot up by 20% and right now, the crypto is trading for $28.40, just $2 to cross the $30 milestone. Blockchain data from <a href="https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca" target="_blank" rel="noopener noreferrer nofollow">Etherscan</a> also confirmed that the project’s purchase was the main contributor to the surge. It brought WLFI’s total crypto holdings to $747 million, which includes approximately 14,576 ETH valued at over $57 million.</p>
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  <img width="860" height="434" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/LINKUSD-Price-Chart-860x434.png" alt="LINKUSD Price Chart">
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   LINKUSD Price Chart | Source: <a href="https://coinmarketcap.com/currencies/chainlink/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
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<p>Why so much hype surrounding LINK? WLFI’s interest in Link might be due to the fact that its portfolio holds $38.33 billion in assets for over 407 crypto projects.</p>
<p>Furthermore, the token is trusted by big players like Emirates NBD and is crucial for moving stablecoins like USDC across networks through its Cross-Chain Interoperability Protocol (CCIP). Over 90% of CCIP’s activities focuses on stablecoins, making it a backbone of DeFi operations.</p>
<p>Also WLFI used Chainlink’s service for data connections and aiming to better integrate with the wider crypto ecosystem.&nbsp;</p>
<p>According to Zach Rynes, a Chainlink community representative, “With Trump’s World Liberty Financial DeFi platform adopting the Chainlink standard for data and cross-chain connectivity earlier this year, the recent onchain purchase of $1M in LINK only further strengthens the long-term alignment between the two ecosystems.”</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/12/12/jetking-stock-soars-by-30-after-adopting-btc-in-treasury/" target="_blank" rel="noopener noreferrer nofollow">Jetking Stock Soars by 30% after Adopting BTC in “Treasury”</a></p>
</blockquote>

Trump’s Investment in $LINK Sparks Interest among Whales

The Crypto Times

Other articles published on Dec 12, 2024

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