- Eric Trump thinks it’s a good time to bid ETH at the current levels.
- However, his family business, WLFI, “sold” more than $ 300 million in digital assets, dominated by ETH.
Eric Trump and their family World Liberty Financial (WLFI) have aroused the cryptographic community.
The criticism followed the recent sale of WLFI of Ethereum (ETH)Bitcoin wrapped (WBTC), and other DEFI tokens worth more than $ 300 million, according to aggregates data by the Lookonchain analysis company.
“TODAY, World Liberty ALSO Transferred $ 86.296 ETH ($ 235M), $ 647 WBTC ($ 65.5M), $ 256.315 Link ($ 5.4M), $ 19.399 Aave ($ 5.26M), 5.78M $ ENA ($ 3.88m) $ Move ($ 1.57 million) and $ 134,216 Ondo ($ 190,000) in #coinbaseprime, “noted Lookonchain.
Source: Arkham
According to shared data, the collective sale on Coinbase was worth $ 316.8 million. Although it has acquired $ 5 million $ 5 million $ 5 million on the same day, the move seemed to have surprised the cryptographic community.
WLFI defends the sale of eth
In fact, Eric Trump’s recent bullish call to buy ETH has met scathing criticism. Trump thought it was the perfect time to buy ETH, but his affiliate sold more than $ 200 million.
Source: X
A user called the movement A ‘literal crime“Ask people to double an asset only to use them as an output liquidity.
“Literal crime lol. Bro has just deposited ~ $ 175 million ETH in Coinbase Prime (surely to buy). »»
From his part, WLFI defended itself against the accusations, declaring that it had “sold” any token but “would reallolate the assets” in ordinary affairs. Part of his declaration read,,
“We carry out routine movements of our cryptographic participation as part of the regular management of the Treasury, and the payment of costs and expenses and to meet the requirements of working funds.
He continued,
To be clear, we do not sell tokens – we simply react of assets for ordinary commercial purposes. »»
That said, Presto’s research analyst Rick Maeda noted that traders had jumped on put options (Paris for downward protections) after the massive event and deleveraging during the weekend .
“The move, which saw the prices of the ETH Perp on the decomposition of the discomfort, from $ 3,285 to $ 2,065, triggered a significant change in the positioning of the market, as evidenced by the ratio of the call of the Last week 0.6 to 2.5 above 2.5 today – indicating a rush for downward protection among market players ”
This suggested caution against potential decreases in the coming days or hours, and a similar feeling was still present at the time of the press.
According to 25RR (Delta Risk inverse), which follows the feeling and the premium for calls (Paris Haussiers) compared to put options, the following four days were negative.
Source: Ambredata
In simple terms, there was a strong coverage activity in the first half of February to protect itself against the additional eTH declines.
