Yesterday, it was discovered that World Liberty Financial purchased several ENS (Ethereum Name Service) domains related to the Trump family members.
According to some analysts, this news would suggest that they might be ready to launch other memecoins linked to other members of the Trump family.
The ENS purchased by World Liberty Financial
The domain names of Ethereum Name Service (ENS) primarily serve to give an arbitrary name to wallets on Ethereum
They have the extension .eth, but they have nothing to do with the domain names of websites
The ENS of the Trump family members purchased by World Liberty Financial are erictrump.eth and barrontrump.eth, in addition to worldliberty.eth and trumpcoin.eth.
Eric Trump is the third son of Donald Trump, and he is also the one most involved with the World Liberty Financial (WLFI) project
Barron Trump, on the other hand, is only 18 years old and is the son of Melania, Donald Trump’s current wife
ENS domains can be purchased by everyone, and once bought, they become the exclusive and permanent property of the wallet to which they have been sent. Therefore, in fact, World Liberty Financial, if it wants, can keep erictrump.eth and barrontrump.eth forever.
The memecoin of the Trump family
Until today, two memecoins from the Trump family have been launched on the market
The first is TRUMP, and it is the official memecoin of Donald Trump launched on Saturday.
The second is MELANIA, and it is the memecoin of Trump’s wife launched yesterday.
The fact is that today Donald Trump officially becomes the president of the USA, with the oath and the inauguration at the White House, and the USA Constitution prevents the president from doing business thanks to his popularity. Therefore, yesterday was effectively the last good day for Trump to launch a memecoin in his name
However, this discourse does not apply to family members, so it is not at all impossible to imagine that other memecoins from the Trump family could also be launched, one linked to Eric Trump, and another to Barron Trump
There is, however, no certainty about it, also because the two memecoins already launched were created on Solana, and not on Ethereum.
World Liberty Financial: the project behind the purchase of ENS
World Liberty Financial is the DeFi project of the Trump family
It already has its own token, WLFI, which has not yet been issued on the market. However, in the crypto markets, there are already many tokens with the same ticker, which have nothing to do with the World Liberty Financial project of the Trump family
As far as is known, as of today World Liberty Financial is still just a project, because the only two things released publicly are the TRUMP and MELANIA tokens, which moreover are not on Ethereum but on Solana. World Liberty Financial, however, as far as is known, should be on Ethereum
The idea is to launch a platform that allows issuing and obtaining crypto loans
Behind WLFI there is definitely Donald Trump, but above all his son Eric
President Trump has repeatedly stated his desire to make the USA the world capital of cryptocurrencies
The purchases of Ethereum
Saturday, after the launch of TRUMP on Solana, the price of SOL skyrocketed
In a few hours, it rose from $218 to $263, and then continued the climb to the new all-time high briefly touched above $290.
This rise, however, ended up draining funds from other cryptos, particularly from Ethereum
In fact, the price of ETH in the same period fell from $3,470 to $3,250, and although it subsequently tried twice to climb back above $3,400, in the end it always returned below $3,300
With the end of the boom for TRUMP, however, the price of SOL fell back below $240, but later it still bounced back above $250
To lend a hand to Ethereum has always been World Liberty Financial, which purchased 48 million dollars of ETH. After the spread of this news, the price drop of ETH stopped, and there was the rebound
The draining of funds
Note that the total market capitalization of the crypto markets since the TRUMP token was launched has not only not increased, but initially even decreased
In other words, the funds that were used to purchase the TRUMP token did not come from outside the crypto markets, but from other cryptos that were sold to finance its purchases
This trend was interrupted only when the price of Bitcoin moved today, whose trend moreover was not affected in any way by the launch of TRUMP’s memecoin
On the other hand, Bitcoin is now widely considered a serious thing, while memecoin by definition are not
The crypto markets are often purely speculative, excluding Bitcoin, and only BTC is now widely seen as an investment
