While the cryptocurrency market reacted favorably to the announcement of Donald Trump's victory in the US presidential elections, this did not benefit the WLFI token associated with the World Liberty Financial project, whose sales are stagnating at a very low level.
Despite Donald Trump's victory, the purchase volume of the WLFI token has not increased at all
This week, the cryptocurrency market was marked by the announcement of Donald Trump's official victory in the American presidential elections. While many cryptocurrencies have seen their prices rise, sales of the governance token of the World Liberty Financial project worn by the sons of the next president of the United States have stagnated.
Indeed, on November 6, less than 100,000 WLFI tokens were sold. At a price of $0.015 per unit, World Liberty Financial has not recovered that 1,500 dollars thanks to its Wednesday sales.
🔎 Everything you need to know about World Liberty Financial (WLFI), the crypto project supported by Donald Trump
Having sold 1.02 billion WLFI tokens since their launch, the company has managed to raise more than 15 million dollarsmainly in Ether (ETH). However, the project is far of the 300 million dollars he hoped to obtain thanks to the sales of its cryptocurrency.
Furthermore, in a file submitted to the Securities and Exchange Commission (SEC) at the end of October, the project leaders declared that they had now aims to raise $30 million in order to stop the sale of their token.
In this form, we could learn that as of October 30, 348 people of American nationality had invested in the WLFI for an amount of $2.7 million. This amount increased slightly following the rise in the price of ETH and the few additional sales made in the meantime.
In all, nearly 19,000 people would hold cryptocurrency across the world for a total of 22,000 transactions, according to Etherscan data.
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Why is the World Liberty Financial project's cryptocurrency having difficulty selling?
The WLFI introduces itself as a governance token based on Ethereum allowing those who have it, to vote for or against proposals aimed at improving the decentralized finance (DeFi) platform imagined by Donald Trump Jr. and Eric Trump.
Despite everything, one aspect of this cryptocurrency would be at the origin of its lack of success: its non-transferability. For investors who have acquired WLFI tokens, it is impossible for them to resell or exchange them for one year. Certainly, for the project leaders, this makes it possible to ensure the stability of its course, but its interest for investors remains more than limited.
👉 Also read – World Liberty Financial (WLFI): the Trump family’s crypto project is reportedly considering its own stablecoin
Also, several people in the crypto community have pointed out that apart from “ wearing the Trump brand “, nothing had been concretely explained around this project. Since July, information provided around World Liberty Financial remain quite wide and do not allow investors to measure the real scope of its nature.
Some of them are already skeptical, this lack of clear information undoubtedly did not help the project leaders to achieve their initial objectives.
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Source : Etherscan, Securities and Exchange Commission
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Surprised by the rise of crypto-assets at the end of the 2010s, I began to closely follow this sector which fascinates me to the greatest extent. When I'm not in football stadiums, rugby stadiums or handball halls, I work on writing relevant articles around cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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