Anticipated Trump Coin Launch Garners Billions of Preshow Interests
In a significant development, the World Liberty Financial (WLFI) token issuance is set to launch on major exchanges Binance, Gate, and MEXC. This cryptocurrency, linked to the Trump family, has been the subject of much debate and anticipation.
According to data from CoinMarketCap, a total of 27 billion WLFI tokens will be released onto the market, which is more than the expected amount of around 3.69 billion initially assumed. This corresponds to more than a quarter of the total supply of 100 billion WLFI tokens.
Interestingly, 20% of the tokens purchased in early sales rounds at prices of $0.015 and $0.05 will be immediately available. This release, which amounts to more than a quarter of the total supply, could potentially influence the market dynamics.
The Trump family's tokens, along with those of team members and advisors, will not be immediately released to prevent immediate selling pressure from insiders. However, if the current WLFI price after token release matches the derivative prices, the Trump family's stake of 22.5 billion tokens would be worth over $7 billion.
The WLFI derivatives market, on the other hand, is in turmoil. Perpetual futures for WLFI were introduced on major exchanges last week at a price of around $0.40, but since then, they have fallen to about $0.32. The 24-hour volume for WLFI derivatives surged by over 400 percent to $3.13 billion on Sunday afternoon.
The protective measures against conflicts of interest demanded by Democrats were largely not included in the text of the GENIUS Act, which has raised concerns among some. Some Democrats have described WLFI as a potential avenue for corruption. President Donald Trump has been criticized for his involvement in the project.
Despite the controversies, the developers of WLFI emphasize a community-oriented approach, aiming to make the project's tokenomics flexible. In an important vote in early July, a proposal to make WLFI tokens tradable was approved by an overwhelming majority of 99%. The project is also strongly backed by Justin Sun, founder of TRON, who acted as a main investor and advisor, initially investing $30 million and increasing his stake to about $75 million by mid-2025, holding tokens worth nearly $700 million at launch.
It is important to note that the Bitcoin derivatives market is also in turmoil, but no further details about this aspect are provided in the given information. The upcoming trading launch of World Liberty Financial (WLFI) is a high-risk endeavor, and potential investors are advised to exercise caution.
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