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Sujha Sundararajan
Author
Sujha Sundararajan
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Donald Trump family-backed DeFi project, World Liberty, has apparently spent 250,000 USDC to purchase 134,216 ONDO token, per Arkham Intelligence. The purchase was made through Cow Protocol during early Asia hours on Monday.
The project purchased ONDO tokens at an average price of $1.83 and the large acquisition led to a short-term price surge for ONDO.
Ondo Finance focuses on real-world asset (RWA) tokenization, enhancing liquidity in financial markets. This is done through products – the tokenized short-term treasury fund OUSG and the interest-bearing stablecoin Ondo USD Yield (USDY).
Further, the World Liberty address portfolio now includes non-stablecoin assets such as LINK, AAVE, ENA, and ONDO, Arkham data revealed. Since November 30, the project’s multi-sig address has spent a total of $44.74 million USDC acquiring six different tokens.
Among the purchases, World Liberty Financial spent 10 million USDC to buy 2,631 $ETH at $3,801, LookOnChain posted last week.
The purchases mark the project’s first foray into LINK and AAVE tokens, diversifying its growing treasury. Following World Liberty’s investment, LINK has soared to a 3-year high, reaching $29.45 on December 12.
Meanwhile, World Liberty Financial is already leveraging Chainlink for data accuracy and cross-chain connectivity. In November, its governance community proposed launching an Aave v3 protocol on Ethereum.
ONDO Token Price Surges 14% Following the Purchase
Ondo Finance (ONDO) token has increased by over 14% in the past 24 hours. It also surged by 28.50% in the past week, standing out in the RWA sector. The token is trading at $2.09 at the time of writing.
With a 24-hour trading volume of $541.1 million at press time, ONDO’s performance highlights its potential for sustained growth and innovation.
The World Liberty Financial protocol now holds more than $50 million in ETH and approximately $74 million in cryptos. According to Arkham data, it holds wrapped Bitcoin (wBTC) and stablecoins such as USDC and USDT.
