Is the Trump-endorsed WLFI living up to expectations?
World Liberty Financial (WLFI) token, recently launched, is making waves in the cryptocurrency market. With a total supply of 100 billion tokens, the initial launch unlocked 24.6 billion tokens, leaving a significant portion still locked away.
Alt5 Sigma Corporation and World Liberty Financial, Inc. are among the holders of WLFI tokens, with Alt5 Sigma Corporation holding 7.7 billion tokens and World Liberty Financial, Inc. holding a staggering 10 billion tokens.
The community's unlock votes will be a key factor to track as the tokens gradually become accessible. Whether exchanges provide deeper liquidity for WLFI is another important aspect to consider, as it could potentially influence the token's price volatility.
Short sellers have jumped into WLFI, indicating a certain level of scepticism about the token's long-term potential. However, WLFI currently lacks trust, feeling more like a trader's playground than a conviction hold.
The success of WLFI depends on how the community handles unlocks, keeps supply tight, and demonstrates more substance than just a name. The project's promised burn mechanism is already being utilised to manage supply, with 2.8 billion tokens reserved for liquidity and marketing.
Early buyers received 20% of their tokens immediately, with the rest locked until the community decides to release them. This built-in safeguard is intended to prevent insiders from dumping tokens on retail immediately after launch.
The launch saw WLFI fall about 36%, from $0.331 to $0.210, and then claw back to around $0.24. The token is under pressure to prove it's not just another token built on hype.
The open interest for WLFI derivatives nearly reached $950 million before cooling to $887 million, indicating a high level of interest in the token. However, the lack of trust and the presence of short sellers suggest that WLFI has a long road ahead to gain widespread acceptance.
One intriguing aspect that has garnered attention is the distribution of 10 trillion tokens from World Liberty Financial. However, there is no verifiable information available about who received these tokens or why this distribution is of interest.
The community's adherence to the lockup during periods of pressure will be a test for WLFI. If the community can maintain discipline and resist the temptation to unlock tokens too quickly, it could help build trust in the token and improve its long-term prospects.
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