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Donald Trump's cryptocurrency project buys a new Altcoin: Doping effect on price
According to on-chain data shared by Arkham Intelligence, the cryptocurrency project of U.S. President Donald Trump, World Liberty Financial (WLFI), has made a purchase of altcoin. Data shows that the Trump family project purchased 4.89 million SEI for 775 thousand USDC. The average amount to be paid for each SEI is determined to be $0.158. Currently, the price of SEI is trading at $0.175.
After revealing that Donald Trump's project has acquired SEI, there has been a 13% increase in the last 24 hours. SEI, with a market value of 853 million dollars, is known as a layer 1 blockchain project aimed at low transaction fees and high speed. The organization that previously purchased SEI currently holds a total of 5.9 million SEI in the cryptocurrency address linked to them at the time of writing.
Recently, there have been reports that World Liberty Financial sold a large amount of Ethereum due to an altcoin incident. This information, provided by Arkham Intelligence, has been denied by WLFI officials.