Recently, the market share of Bitcoin has dropped from 60% to 55%, which means that the cottage season has begun. Recently, there have been constant hot spots, which can be said to be a hundred flowers blooming: AI Agent took the lead, Virtuals Protocol broke through the market value of 300 million US dollars; Solana ecosystem ai16z also broke through the market value of 1 billion US dollars, and Hyperliquid ecological currency HYPE rose more than 10 times in terms of products. In terms of products, the open interest in the exchange has repeatedly broken new highs, breaking through 4.3 billion US dollars. Even the NFT sector that was almost forgotten by the market has made some moves. Magic Eden and Pudgy Penguins have successively issued coins, driving many ETH/SOL blue-chip NFT projects to rise.
In the above simple overview of the hot spots in each sector, it is not difficult to find that they all revolve around on-chain activities. Have the tokens in centralized exchanges really been forgotten by the market?
Not quite, another narrative that cannot be ignored in this bull market cycle is Trump's election.
Trump's election means that cryptocurrencies have officially entered the public eye. The improvement of regulations and the relaxation of supervision have helped external funds enter the cryptocurrency space, as evidenced by the continuous net inflow of funds into BTC and ETH spot ETFs. The Trump family's cryptocurrency project, World Liberty Financial, also leads by example, making aggressive purchases of DeFi-related tokens over a month, including: ETH, CBBTC, AAVE, LINK, ENA, ONDO.
So what was the price performance of these cryptocurrencies after being purchased by World Liberty Financial? What common features do these tokens share? What other conceptual cryptocurrencies are there? Let's take a look together with WOO X Research.
Purchase Record Summary
The above table summarizes the cryptocurrencies purchased by World Liberty Financial as of November 30, totaling $44.75 million. As of the writing on December 18, all cryptocurrencies held by World Liberty Financial are currently in a profitable state.
Interestingly, traditional institutions have previously shown more interest in Bitcoin than Ethereum, but in their investment portfolio, it can be seen that World Liberty Financial holds far more ETH than Bitcoin, perhaps indicating that they are more optimistic about Ethereum's price trend compared to Bitcoin.
AAVE is the leader in market lending and holds the top TVL among all protocols, with deposits nearing $40 billion, a historic high, and its price has increased by 35% in the past seven days. Coupled with World Liberty Financial's community vote passing the proposal to collaborate with AAVE, it is currently in the TEMP CHECK stage at AaveDAO. If the proposal is approved, it will bring new users and more real returns to AAVE.
LINK is an established oracle project. On November 14, World Liberty Financial also announced they would adopt Chainlink as the standard for on-chain data and cross-chain connections, serving as a secure way to bring DeFi into the next phase of large-scale adoption.
ENA's development is closely related to this bull market. Since the yield source of USDe is based on futures arbitrage, as market sentiment becomes more exuberant and Ethereum funding rates rise, Ethena can benefit from it. Recently, its TVL has also surpassed $6 billion, a historic high, and in terms of products, they have recently collaborated with BlackRock to launch the RWA stablecoin USDtb, with yields coming from government bonds. This product's launch also addresses market concerns about funding rates turning negative, which could lead to an overall protocol death spiral.
ONDO is currently the leader in the RWA sector. After BlackRock announced the launch of the BUIDL fund, Ondo Finance invested over $95 million, becoming the largest holder. In terms of compliance, legitimacy, funding scale, and market favorability, ONDO is the best choice in the current RWA sector.
In addition to the aforementioned tokens, it is worth mentioning COW. When World Liberty Financial purchased these tokens, they used only Cow Protocol for the purchases, hence it is also regarded as a Trump conceptual token.
What coins might they purchase next?
After understanding the investment context of World Liberty Financial, we speculate on the targets they might focus on next.
First, from their holding layout, it can be seen that it is best for the tokens themselves to have a cooperative relationship with World Liberty Financial, such as AAVE m3.
LINK, followed by a 'clear business model' and 'stable actual returns'. AAVE, LINK, ENA, ONDO, etc., all have clear product positioning, a large ecosystem of users, and actual revenue models. This means they are not blindly pursuing 'novelty' or 'pure conceptual' tokens, but are more inclined to invest in protocols that can bring long-term value.
LDO: Since World Liberty Financial's holdings in ETH are far greater than in BTC, it shows they are very optimistic about Ethereum's long-term potential. With the maturity of Ethereum's staking mechanism and the potential introduction of ETF-related Ethereum staking rates, the leading protocol LIDO has become the current first choice.
It is the largest liquid staking protocol in the Ethereum ecosystem, with a TVL of $37 billion, accounting for 30% of the entire Ethereum staking market.
Pendle: Mainly focuses on the yield splitting market, allowing users to trade future yield rights. As Ethereum staking rates and USDe protocol yields rise, the demand for yield trading markets continues to increase, making Pendle highly regarded in this bull market. Recently, Pendle's TVL has exceeded $5 billion and has established cooperative relationships with several mainstream DeFi protocols.
UNI: Uniswap is the origin of DeFi Summer and is currently the most commonly used decentralized exchange by users, leading the sector. Recently, they also launched Unichain, but the market's reaction was lukewarm; however, this does not diminish users' reliance on Uniswap's products.
Conclusion: Blue-chip projects = Presidential cryptocurrency projects
Regarding World Liberty Financial's aggressive cryptocurrency trading, Nansen analyst Nicolai Søndergaard stated to Bloomberg: "The actions of World Liberty Financial in purchasing tokens may be aimed at gaining more trust or by drawing attention to these assets to promote the development of their own projects. Because if these assets perform well, World Liberty Financial may also benefit from it."
World Liberty Financial is actively laying out blue-chip projects, which not only boosts market confidence in mainstream DeFi protocols but also injects more institutional funds into the cryptocurrency market. This flow of funds further stabilizes the market and propels mainstream projects toward higher market values and development potential.
