World Liberty Financial, the cryptocurrency venture by the Trump family, is ramping up its investment in Ethena crypto (ENA) as part of a continued plan to diversify its crypto portfolio.
The move is consistent with a recently announced partnership on decentralized finance (DeFi).
New Acquisition of Ethena Crypto Tokens
World Liberty Financial paid 250,000 USDC for the transaction on December 18, buying 231,726 ENA tokens through Cow Protocol.
Blockchain data from Arkham confirmed the purchase took place at 19:55:35 UTC. The wallet now contains 741,687 ENA tokens after this latest acquisition.
The transaction comes days after a December 16 transaction in which the same wallet exchanged 500,000 USDC for 509,955 ENA tokens at an average of $0.98.
The ENA holdings is just one aspect of the focused approach World Liberty Financial is taking with its acquisitions.
The latest purchases coincide with Ethena Labs’ partnership announcement, which will integrate its sUSDe asset as a key collateral component.
Broader Portfolio Activity
World Liberty Financial has been managing a diversified cryptocurrency portfolio, managing it very actively.
On December 16, its wallet included assets like Ethereum (ETH), Chainlink (LINK), Aave (AAVE) and Coinbase Wrapped Bitcoin (cbBTC), worth approximately $45 million.
Recent transactions include the buying of 8,105 ETH for $30 million USDC at an average price of $3,701 per ETH, and 103 cbBTC worth $10 million USDC at $97,181 per token.
In addition the wallet acquired 78,387 LINK tokens worth $2 million at $25.50 per unit and 6,137 AAVE tokens worth $2 million at $326 per unit.
On December 18, the wallet converted its entire 103 cbBTC holdings into 103.149 WBTC using Cow Protocol.
This adjustment follows Coinbase’s decision to delist WBTC due to its association with Justin Sun.
ENA Price Movement and Institutional Interest
Ethena crypto has experienced significant activity in recent days. Between December 16 and December 18, the token’s price dropped from $1.30 to a low of $1.01 before stabilizing at $1.14.
Over the past 24 hours, ENA’s price has risen by 2.23%, while its 7-day performance shows a 2.07% increase. Trading volume remains strong, with $1.27 billion transacted in the past day.
Whales accumulated approximately 36.55 million ENA tokens during the price dip, which suggests large investors were getting more interested from there.
ENA has a current market cap of $3.35 billion, and a 24 hour trading volume of $61.1 million. There are 2.9 billion tokens circulating.
Market Data on Ethena Crypto Holders
Analytics from IntoTheBlock reveal that 63% of Ethena crypto holders are profitable at the current price, while 22% are at breakeven, and 15% are holding at a loss.
Large holders account for 96% of the token supply, indicating a concentrated distribution.
Price movements of ENA have high correlation with Bitcoin, with 0.8 coefficient due to its synchronization with overall market maneuverings.
According to Holder data, 79% of wallet holders have had ENA in their wallets for 1 to 12 months, while 21% have less than one month of activity.
The token’s Telegram community also saw modest growth, 0.65%, which also recorded recent data of $1.27 billion in large transactions over the past week.
