Trump-Backed Token WLFi Launches with $7.4B Valuation, Sends Ethereum Gas Fees Soaring
The highly anticipated launch of World Liberty Financial’s token, WLFi, has taken the cryptocurrency market by storm, with a market rating of over $7.4 billion on its first day. This significant event has triggered a high trade volume during the opening hours, with the token’s value rising by 13% to $0.2525 shortly after its launch. According to CoinmarketCAP data, WLFi’s trading volume has already exceeded $1.8 billion across centralized and decentralized exchanges.
The launch of WLFi has had a profound impact on the wider market, with Ethereum gas fees skyrocketing to over 60 Gwei, as reported by Milk Road data. This surge in gas fees is a testament to the immense interest generated by the token among retail traders and institutions.
WLFi Token Distribution and Allocation
In a blog post dated September 1st, the World Liberty Financial Team announced that the launch has brought over 24.6 billion WLFi tokens into circulation. Of these, 10 billion tokens were retained by the parent company, World Liberty Financial, Inc., while 7.78 billion tokens were allocated to Alt5 Sigma Corporation as part of its treasury strategy. Approximately 2.9 billion tokens were reserved for exchange activity to maintain liquidity and support early marketing efforts, and over 4 billion tokens were distributed to public sale participants, with 20% being activated at launch.
The remaining 76 billion tokens are reportedly “locked or otherwise restricted,” belonging to strategic partners, the project team, and its treasury. Trump Jr. has emphasized that the WLFi token is a crucial component of the project’s long-term mission, designed as a governance layer rather than a speculative instrument. This stance has been reinforced by Justin Sun, founder of Tron, who has publicly backed the project and promised not to sell his unlocked tokens.
Impact on the Broader Cryptocurrency Market
The launch of WLFi has not only sent Ethereum gas fees soaring but has also contributed to a wider stablecoin growth on the Tron blockchain. Justin Sun has announced that the liquidity from USD 1 is being expanded to Tron to $200 million, combining WLFi’s success with the growing demand for stablecoins on its blockchain. As the cryptocurrency market continues to evolve, the launch of WLFi serves as a significant milestone, highlighting the growing interest in governance tokens and their potential impact on the broader market.
For more information on the launch of WLFi and its impact on the cryptocurrency market, please visit https://cryptoslate.com/trump-backed-token-wlfi-launches-with-7-4b-valuation-sends-ethereum-gas-fees-soaring/
