Trump Bullish on Ethereum? WLFI Move Sparks Excitement

Ethereum ($ETH) appears to have gained a new powerful supporter, as the Donald Trump-inspired World Liberty Financial project embarks on an accumulation spree.

Over the past year, Ethereum’s ($ETH) potential has come under question as it has continued to underperform other leading crypto assets by market cap. Amid the doldrums, a recent move by World Liberty Financial ($WLFI), a decentralized finance platform inspired by U.S. President Donald Trump, now appears to be sparking new hope among investors.

A Powerful Supporter?

Many Ethereum proponents now believe that the asset has gained a powerful new supporter in none other than President Donald Trump.

The sentiments come as World Liberty Financial ($WLFI), the DeFi project inspired by Trump, not only purchased $47 million worth of $ETH to celebrate his inauguration as the 47th president of the U.S. but has now gone ahead to stake some of these holdings.

Specifically, per Etherscan data, $WLFI has staked nearly 5,000 $ETH worth over $15 million on Ethereum liquid staking provider Lido. The move is significant as it makes the project a more involved contributor to the Ethereum network and suggests its willingness to tie its fortunes with the network long term.

Donald Trump is starting to stake his $ETH

Let me say that again….

The President of the USA is staking $ETH pic.twitter.com/jRPwpiuuwz

— Eric Conner (@econoar) January 20, 2025

For context, staking involves locking up one’s assets to participate in securing a network. This process typically involves verifying transactions for a reward with locked assets held to keep the network participants honest.

Meanwhile, Ethereum is not the only asset $WLFI accumulated on inauguration day. The project also purchased copious amounts of Bitcoin, LINK, TRON, AAVE, and Ethena.

However, this $WLFI interest has not been able to save these assets, including Ethereum, from the crypto market’s post-inauguration correction. Per CoinMarketCap data, $ETH, for one, is trading just above the $3,250 price point at the time of writing, representing an over 4% decline over the past 24 hours.