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A seasoned cryptocurrency trader predicts that a specific area of digital assets might be on the verge of replicating its explosive performance from 2021, but this time with little fanfare.
Using the alias Bluntz stated that decentralized finance (DeFi) could now be in a more stable position.
The shift comes in light of revelations that a crypto venture linked to President-elect Donald Trump has been amassing tokens.
According to Bluntz, Trump’s involvement in DeFi signals a significant reduction in risk for the sector.
Reports from the blockchain analytics platform Arkham reveal that Trump’s financial initiative, World Liberty Financial (WLFI), recently acquired $50 million in DeFi tokens. The purchases include prominent assets like Ethereum (ETH), Chainlink (LINK), and Aave (AAVE).
Bluntz highlighted their optimism for Ethena (ENA), a decentralized stablecoin protocol, noting that despite traders shorting the asset, Trump’s acquisition of ENA could point to future potential.
“With the president buying ENA and current funding rates in negative territory, the setup looks promising,” the trader remarked.