US President-elect Donald Trump’s World Liberty Financial (WLF) has made a significant multi-billion dollar investment in Ethereum (ETH), Aave (AAVE) and Chainlink (LINK), leading to sharp price increases in AAVE and LINK. According to on-chain analysis shared by Lookonchain via X and verified via Etherscan, the fund purchased approximately $10 million in ETH, $1 million in AAVE, and $1 million in LINK on December 11.
These are the fund’s first recorded purchases of AAVE and LINK, while total purchases over the past 12 days add up to around $30 million worth of USDC spent to secure over 8,000 ETH at an average price of $3,701.
Trump’s World Freedom (@mundolibertadfi) are buying $ETH, $LINK and $GHOST!
In the last 9 hours, the World Liberty Multisig wallet spent 10 million $USDC buy 2,631 $ETH and $3,801.1M $USDC buy 41,335 $LINK at 24.2 dollars and 1 million $USDC buy 3,357 $GHOST at $297.8. pic.twitter.com/B11KvcwRJQ
— Lookonchain (@lookonchain) December 12, 2024
Shortly after the news broke, AAVE skyrocketed by approximately 31% in the last 24 hours and LINK rose by approximately 23.5%.
The increase coincides with World Liberty Financial’s recent decision to integrate Chainlink technology. Last month, WLF announced that it will “leverage Chainlink as a standard for on-chain data and cross-chain interoperability” to secure its protocol ecosystem.
The press release described Chainlink as “the most secure solution to solve critical on-chain data, interoperability, and security issues,” while noting that this would “kick-start the next wave of mass DeFi adoption” for WLFI. The platform plans to integrate Chainlink Price Feeds into the Ethereum mainnet in anticipation of deploying a World Liberty Financial version of the Aave v3 instance, pending governance approval.
In October, WLF submitted a proposal on the Aave governance forums seeking to implement its own Aave v3 environment. Aave founder Stani Kulechov has confirmed that the WLF instance is not a direct fork of the Aave code, but rather functions as a segregated version linked to independent KYC-compliant interfaces.
While this means that WLF is leveraging the largest smart contract-enabled public blockchain and leveraging core decentralized finance primitives, it also maintains strict compliance requirements. The project is initially limited to accredited investors within the United States.
AAVE, which has increased by about 138% in the last five weeks, it is also showing technical resilience. Today’s price action pushed it above the 0.5 Fib level at $356.84 (from all-time high to cycle low). If this level holds into the weekly close, bullish targets could include the 0.618 Fib at $430.29, the 0.786 Fib at $534.87, and ultimately the May 2021 ATH at $668.
Chainlink’s performance over the past five weeks has been particularly strong, post a profit of more than 175%. The most critical technical resistance level now appears to be the 0.5 Fibonacci retracement at $28.88. A decisive break above this level could open the way to the 0.618 Fib at $34.57, the 0.786 Fib at $42.67, and potentially the May 2021 all-time high (ATH) at $53.
At press time, LINK was trading at $27.67.
Fountain: NewsBTC.com
