The newly tradeable World Liberty Financial (WLFI) token derailed after the initial flourish on Monday.
WLFI Falters After Initial Burst
WLFI, the governance token of the Trump family-backed decentralized finance platform, began trading at $0.228 and rose to a high of $0.46 in the next half an hour, according to CoinMarketCap.
However, it retreated sharply during the day, dropping to roughly $0.24 as of this writing, reflecting a 46% decline from the highs. On an intraday basis, the token rose 7.9%.
Major cryptocurrency exchanges such as Coinbase and Binance listed the token on their platforms. The trading volume skyrocketed past $4 billion in the last 24 hours, making it the ninth-most traded cryptocurrency.
As of this writing, it has amassed a market capitalization of over $6 billion. It is available on Ethereum (CRYPTO: ETH), Binance Chain (CRYPTO: BNB) and Solana (CRYPTO: SOL).
See Also: Bitcoin Sets New All-Time High At $124,000 As Record-Breaking Surge Continues
The Supply Dynamics
World Liberty Financial confirmed that the coin's initial circulating supply at launch was 24.67 billion, with 10 billion allocated for ecosystem use, 7.78 billion for ALT5 Sigma Corp. (NASDAQ:ALTS), which will hold the tokens as part of its treasury, 2.88 billion for liquidity and marketing and 4 billion for public sale, representing the initial unlock.
It mentioned that the remaining 80% of tokens would be subject to unlocking schedules.
Trump’s Family Involvement
World Liberty Financial was launched last year to allow users to borrow, lend and earn interest on funds through the DeFi route. It introduced WLFI as the governance token, but made it unavailable for trading.
The Trump family is deeply invested in the project, with President Donald Trump listed as Co-Founder Emeritus, while his sons, Eric Trump and Donald Trump Jr., serve as co-founders.
According to the latest financial disclosure, Trump’s investment in the venture yielded him over $57 million in 2024, positioning it as one of his primary sources of income.
Photo Courtesy: T. Schneider on Shutterstock.com
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