World Liberty Financial, a venture backed by Donald Trump, has bolstered its cryptocurrency portfolio with a further $1 million investment in Chainlink’s LINK token late Thursday. This marks the second consecutive day the project has increased its LINK holding, now totalling an impressive $2 million worth of tokens. In addition to this, World Liberty Financial purchased $246,000 worth of Aave’s AAVE token, raising their total token assets to $1.2 million.
Since November 30, World Liberty Financial has spent a staggering 30 million USDC to buy 8,105 ETH at $3,701; 10 million USDC to buy 103 cbBTC at $97,181; 2 million USDC to purchase 78,387 LINK at $25.5. These significant investments have made LINK the fourth largest holding of World Liberty Financial after ether (ETH), bitcoin (BTC) and tether (USDT).
World Liberty Financial, supported by the Trump family, operates as a unified platform where users can borrow and lend cryptocurrencies, establish liquidity pools and conduct transactions with stablecoins. The firm’s own token, WLFI, serves as a governance token for the platform.
The platform leverages data provider Chainlink’s services to ensure smoother integration with the broader cryptocurrency ecosystem. Chainlink aids by offering crucial pricing data and cross-chain interoperability infrastructure, which were detailed in a report last November.
Chainlink plays a crucial role in bridging the gap between blockchains and off-chain systems. It provides smart contracts with access to real-world data, external APIs, and other off-chain resources. LINK tokens, among others, are used to compensate node operators for their services in sourcing and preparing off-chain data or executing computations.
Investor demand for LINK tokens is closely correlated with the utility and adoption of Chainlink’s oracle services. The market has responded positively to World Liberty Financial’s recent investments. LINK prices have surged by 22% in the past seven days and soared by more than 130% since World Liberty Financial first incorporated Chainlink, helping the token reach price points last seen in early 2021.
LINK prices neared $30 in Asian morning hours Friday, with open interest (OI) on the token’s futures skyrocketing to record highs above $860 million. OI refers to the number of unsettled bets in futures markets. A rise in prices accompanied by increasing OI is generally viewed as a bullish sign, suggesting investors are prepared to dedicate new capital in anticipation of continued price growth. This development marks a significant moment for the cryptocurrency market and highlights the growing influence of high-profile institutional investors.
