World Liberty, the crypto project backed by the Donald Trump family, has bought the dip with another $2.5 million spent on Ethereum.
Data from Arkham Intelligence showed that World Liberty doubled down on its Ethereum (ETH) bet as the altcoin fell alongside Bitcoin (BTC) and other crypto assets.
The project, which has recently acquired multiple cryptocurrencies to bolster its decentralized finance offerings, used $2.5 million in the stablecoin USDC (USDC) to purchase 759.36 ETH. Arkham data indicated the transaction was completed via intent-based trading platform Cow Protocol, with an average purchase price of $3,651 per ETH.
Read more: World Liberty Financial swaps $10M cbBTC to Wrapped Bitcoin
ETH price decline
World Liberty capitalized on the latest crypto dip to expand its altcoin portfolio. With Bitcoin dipping to under $93k on Dec. 20, Ethereum and most other cryptocurrencies followed suit. ETH dropped to approximately $3,100, experiencing a significant decline amid a broader crypto market sell-off.
This decline saw World Liberty’s recently acquired crypto suffering notable declines. According to smart money account Lookonchain, the Trump family project’s total loss amid the crash reached $6.15 million. Its ETH holdings saw the biggest loss with $4.86 million at the time.
Currently, World Liberty Financial holds approximately 16,400 ETH, valued at $53.73 million. In total, Arkham data shows the project’s crypto holdings are worth over $73.9 million.
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