Trump-backed WLFI swaps $8M in WBTC for 2,868 ETH as whale wallets buy over 81,000 ETH during Ethereum’s recent price dip.
Ethereum has drawn renewed attention after a major portfolio shift by World Liberty Financial.
The Trump-backed blockchain project moved funds from Bitcoin exposure into Ether. The action occurred during a broader market decline and alongside increased whale accumulation.
WLFI Rebalances Holdings From WBTC to Ethereum
World Liberty Financial reallocated part of its crypto holdings by selling Wrapped Bitcoin. On-chain data shows the project sold about $8 million worth of WBTC.
The funds were used to acquire Ethereum during a price dip.
Blockchain tracking platform Onchain Lens reported the transaction. The address linked to WLFI sold around 93.77 WBTC.
It then purchased about 2,868 ETH at an average price near $2,813.
Wrapped Bitcoin is an Ethereum-based token backed one-to-one by Bitcoin. It allows Bitcoin liquidity to operate within Ethereum-based protocols.
WLFI’s move shifted exposure from Bitcoin-linked assets to native Ethereum.
Ethereum Price Trends and Market Context
At the time of the transaction, Ethereum traded below the $3,000 level. ETH was priced near $2,864 after a daily decline of about 2.6%.
Weekly and monthly price movements also showed losses.
Bitcoin also traded lower during the same period. BTC was priced near $87,662, with declines seen over daily and weekly timeframes. The monthly change remained slightly positive.
The relative price movements may explain the reallocation. Ethereum’s pullback contrasted with Bitcoin’s recent performance. Market data reflects a period of broader crypto weakness.
Related Reading: Dormant Ethereum Address Moves $145M, Market Eyes Next Move
Rising Whale and Institutional Ethereum Accumulation
On-chain data shows that a newly created wallet identified as “0xcA0” purchased 61,000 ETH worth about $171.15 million from Binance.
The transaction occurred during a period of increased large-holder activity on the Ethereum network.
In a separate move, a whale wallet labeled “0xFB7” acquired 20,000 ETH valued at roughly $56.13 million from Wintermute. This purchase added to the wallet’s existing balance.
After the latest transaction, the “0xFB7” wallet now holds 100,130 ETH. The total holdings are valued at approximately $283.79 million based on current market prices.
Institutional Activity Adds to Ethereum Demand
Public companies have also increased Ethereum exposure. BitMine, led by Tom Lee, added to its ETH holdings during the downturn. The firm acquired more than 35,000 ETH, according to public reports.
These purchases occurred despite broader market declines. Large buyers appear active during periods of reduced prices. The activity has been visible across multiple wallets.
The accumulation trend coincides with WLFI’s portfolio shift. Both events are based on observable on-chain data.
No public statements have been issued explaining long-term strategies.
Source: https://www.livebitcoinnews.com/ethereum-gains-as-wlfi-sells-93-wbtc-for-2868-eth/
