Key Points
- Donald Trump’s cryptocurrency portfolio has seen a significant increase, largely due to a 38% monthly rally in Ethereum.
- Justin Sun, founder of TRON, has invested $30 million in Trump’s blockchain-focused DeFi project, World Liberty Financial.
Trump’s Crypto Holdings Soar
Donald Trump’s recent presidential victory has triggered significant reactions in financial markets, especially in the cryptocurrency sector.
On November 5th, following his election win, market intelligence firm Arkham Intel reported substantial growth in Trump’s cryptocurrency portfolio.
This increase coincided with a broader rally in cryptocurrency prices, reflecting a market uptrend driven by renewed investor optimism and policy speculation following his victory.
Ethereum Outperforms
While Bitcoin has been a key focus of Trump’s presidential campaign, Ethereum emerged as a standout in his crypto portfolio.
With nearly 496 ETH coins, Trump has benefited from Ethereum’s impressive performance, with the asset increasing by 38% over the past 30 days.
This significant gain underscores Ethereum’s resilience and growing appeal, even as Bitcoin dominates the broader narrative.
Crypto analyst Michael van de Poppe noted that the current volatility in yield markets could significantly impact Ethereum’s future price movements.
He suggested that weak economic data could lead the Federal Reserve to consider additional rate cuts as Labor Market Week approaches.
This potential easing of monetary policy could drive yields lower, creating a favorable environment for Ethereum’s price to rise further.
Jesse Olson, another analyst, echoed this sentiment, stating that Ethereum may prove its detractors wrong in the near future.
These recent market shifts have boosted the value of Trump’s cryptocurrency portfolio by about $1.6 million in just 24 hours.
Justin Sun’s Investment
Another significant aspect of Trump’s crypto portfolio is Justin Sun’s investment.
The founder of TRON has invested $30 million in Trump’s DeFi project, World Liberty Financial (WLF), supporting his vision of a blockchain-driven U.S. economy.
The WLF token sale is primarily aimed at offshore investors, with only $30 million worth of tokens allocated to the U.S. market.
Once this cap is reached, the U.S. offering will close, leaving a substantial portion of the tokens reserved for international buyers.
Bitcoin, which recently neared the $100K milestone, has dropped over 5% in the past 24 hours, trading at $92,231.02 at press time.
Similarly, Ethereum has followed a bearish trend, dropping over 4% to $3,322.73 as per CoinMarketCap.
