Donald Trump’s Cryptocurrency Project Buys a New Altcoin: Doping Effect on Price

According to onchain data shared by Arkham Intelligence, US President Donald Trump's cryptocurrency project, World Liberty Financial (WLFI), made an altcoin purchase. The data shows that Trump’s family project purchased 4.89 million SEI for 775 thousand USDC. The average amount paid per SEI was determined to be $0.158. Currently, the SEI price is trading at $0.175. Chart showing the increase in SEI price over the last 24 hours. After it was revealed that Donald Trump’s project had purchased SEI, there was a 13% increase in the last 24 hours. SEI, which has a market value of $853 million, is known as a layer 1 blockchain project that aims for low transaction fees and high speed. Related News: Ripple CEO Brad Garlinghouse on the Future of XRP, SEC Lawsuit and the State of the Cryptocurrency Industry The organization, which previously purchased SEI, holds a total of 5.9 million SEI in the cryptocurrency address associated with them at the time of writing. It was recently claimed that World Liberty Financial sold a large amount of Ethereum due to the altcoin crash. This claim, brought up by Arkham Intelligence, was denied by WLFI officials. *This is not investment advice. Continue Reading: Donald Trump’s Cryptocurrency Project Buys a New Altcoin: Doping Effect on Price