Quick Takeaways
- WLFI Crypto open interest surged to $950 million just hours before a token unlock.
- Over $2.2 billion worth of derivatives trading was handled by Binance alone.
- The token could reach a $34 billion valuation, pushing into the top 10 cryptos.
WLFI Crypto Is Heating Up Fast Before Major Token Unlock
If you’ve been watching the crypto space lately, you’ve probably seen the buzz around WLFI Crypto and it’s not just hype.
Just hours before a big unlock of its token supply, WLFI Crypto’s open interest in derivatives shot up to nearly $950 million, according to CoinGlass. While it cooled a bit to $887 million, that’s still a massive 45% jump in just 24 hours.
What’s more, daily trading volume exploded by over 535%, hitting $4.54 billion making WLFI one of the top 5 most traded crypto derivatives right now.
That kind of momentum isn’t common for a token this new and it’s got a lot of eyes on it.
WLFI Crypto Could Break Into the Top 10 Coins
Right now, WLFI Crypto is trading around $0.34, which is down slightly from a high of $0.40 last week. Still, if that price holds steady, the token’s fully diluted valuation would be around $34 billion, based on its total supply of 100 billion tokens.
That would be enough to knock Tron (TRX) and Dogecoin (DOGE) out of the top 10 by market cap. Not bad for a project that only recently started trading.
However, only about 5 billion tokens are actually being unlocked for now. Based on that number, WLFI’s current market cap sits closer to $1.7 billion. Still impressive and possibly just the beginning.
Binance Is Leading the Charge in WLFI Crypto Trading
If you’re wondering where all this action is happening, look no further than Binance. The exchange has seen over $2.2 billion in WLFI Crypto trading volume in the past 24 hours, which is more than half of the global total.
In fact, Binance processed more than 10.5 million WLFI trades in that time alone. OKX came in second with 1.1 million trades and a healthy $917 million in volume.
Clearly, this token isn’t flying under the radar. You can track the latest WLFI action on Binance or view analytics on CoinGlass.
What’s Behind the WLFI Crypto Hype? A Big Unlock and a Big Name
So, what’s driving this sudden spike?
It all comes down to a major event: World Liberty Financial the company behind WLFI Crypto is unlocking 20% of tokens that were bought by early investors.
The unlock went live on September 1 at 8 a.m. EST after the WLFI community voted in July to allow public trading. Originally, WLFI was pitched as a governance token for the company’s Ethereum-based DeFi platform.
But with this much market activity, it’s clear investors are treating it as much more than just a voting tool. Plus, let’s be honest the name behind the token doesn’t hurt.
Trump’s Role Adds Fuel to the WLFI Crypto Fire
Former U.S. President Donald Trump is listed as Chief Crypto Advocate for WLFI Crypto, and his sons Donald Jr., Eric, and Barron are all named Web3 Ambassadors. That alone has grabbed headlines and stirred curiosity across political and financial circles.
Behind the curtain, the World Liberty Financial has raised $ 550 million to date. In October, 20 billion tokens were sold at $ 0.015, increasing by $ 300 million. Then in March, another 5 billion tokens went to each $ 0.05, brought in another $ 250 million.
On top of that, a Trump-affiliated company reportedly receives 75% of the platform’s revenues another reason why WLFI Crypto is in the spotlight.
So, Could WLFI Crypto Be the Next Big Thing?
It’s early days, but WLFI Crypto definitely isn’t acting like your average new token. With massive trading volume, major exchange listings, and some serious name recognition, it’s got all the right ingredients to become a big player.
Of course, with big moves come big risks. The upcoming unlock means more tokens hitting the market, and that could affect the price for better or worse.
Still, if momentum keeps building, WLFI Crypto could very well become a long-term fixture in the crypto world.
