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According to Onchain data, World Liberty Financial, the cryptocurrency project behind Donald Trump and his family, has begun purchasing $AVAX.
The data suggests that the project has purchased $500,000 worth of $AVAX to date. Meanwhile, authorities have bridged around $2 million worth of $USDC stablecoins to the Avalanche network, meaning more purchases could be on the way. These $USDC tokens were held in World Liberty Financial’s multisig wallets on the Ethereum network.
Following this development, there was a significant increase in the $AVAX price:
Graph showing the rise in $AVAX price following the development.
The project in question recently completed its WLFI token sale and raised a total of $550 million in funds.
*This is not investment advice.