Trump-backed crypto investment firm World Liberty Financial has raised $590M from the $WLFI token sale.

The total token supply is capped at 100 billion. Out of this, 20% of the tokens (20 billion) were made available for sale in October at a price of just $0.015.

Former U.S. president Donald Trump’s investment firm, World Liberty Financial (WLF), has managed to raise $590 million from the sale of its native token, $WLFI.

The total token supply is capped at 100 billion. Out of this, 20% of the tokens (20 billion) were made available for sale in October at a price of just $0.015.

The initial sale experienced slow demand. However, after the launch of $TRUMP and $MELANIA, the Trump family’s in-house meme coins, the $WLFI token sale also took off. The first round raised around $300M. Another 5 billion tokens were then opened for sale at $0.05 per token, raising $250M.

In addition to this $550M, Tron founder Justin Sun has invested $30M in the project, while Web3Port invested $10M. This investment made Justin an advisor of the project.

Zak Folkman, the co-founder of WLFI, has said that the project intends to put 63% of the total supply for sale.

Right now, only 25% of the tokens have been sold. This suggests that more rounds of token sales are coming at a possibly higher price.

The Growing Stablecoin Supply

You might be wondering why the WLFI token sale is crucial to the crypto markets. Well, there are a couple of reasons.

This is also evident with WLF’s current portfolio. Out of a total investment of $98M, $19.83M is held in stablecoins ($13.58 in USDT and $6.25M in USDC). That’s around 20% of the total portfolio value.

The total market stablecoin supply is now around $219B, which suggests that the current cycle has still not exhausted its potential and that we’ve only reached midway.

If you look at past data, the supply during April 2022 was $187B before the markets went bearish. We’re already past that, and the supply is still increasing.

This increase is also propelled by declining crypto conditions, where institutional investors are adding crypto assets to their portfolio at throw-away prices. These attractive prices have meant that the supply isn’t declining.

$ETH has seen more than a 50% decline in the last 3 months. In fact, WLFI holds $41M worth of ETH (40% of its portfolio).

Everyone’s ravenous for a piece of the crypto pie, and this is bound to translate to higher price points for the best altcoins and a potential rally.

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