WLFI Token Surges as Whales Accumulate and USD1 Stablecoin Grows
the WLFI token price has soared, doubling from it’s recent low of $0.072. This surge comes as major investors, known as whales, continue to buy the World Liberty Financial token.
WLFI reached a peak of $0.1455, marking a 100% increase from its friday low. On-chain data reveals that whales have significantly increased their WLFI holdings. They now own 18.61 million tokens, up 57% from last month. Since the market crash on Friday, whales have purchased over 400,000 WLFI tokens.
World Liberty Financial itself invested $10 million in WLFI during the last market downturn. Additionally, the number of WLFI tokens on exchanges has decreased from 2.97 billion in September to 2.41 billion. this drop suggests investors expect the price to rise.
Simultaneously occurring, the USD1 stablecoin is experiencing modest growth. Its supply has risen 1.79% in the past month to $2.7 billion, partly due to a $2 billion investment by Abu Dhabi’s MGX into Binance.
USD1’s user base has grown by nearly 40% to 524,000, with monthly transactions doubling to over 31 million.The adjusted transaction volume is now almost $10 billion.
Technically, WLFI has formed a bullish flag pattern, indicating potential further gains. Bulls are targeting the $0.200 level. However, a drop below $0.1200 could negate this bullish outlook.
