Data from blockchain intelligence firm Lookonchain suggests that crypto wallets associated with President Donald Trump-backed decentralized finance (DeFi) platform World Liberty Financial (WLFI) are selling Ethereum (ETH) at a loss.
Citing data from Arkham, Lookonchain says its 581,400 followers on the social media platform X that it appears WLFI has begun selling part of its nine-figure ETH stash at a loss.
[adinserter block="1"]Arkham’s data notes that the wallet in question is not 100% confirmed to be controlled by WLFI.
“Has Trump’s World Liberty started selling ETH at a loss? According to Arkham, a wallet possibly linked to World Liberty sold 5,471 ETH ($8.01 million) at $1,465 [earlier]. WorldLiberty previously spent $210 million to buy 67,498 ETH at an average price of $3,259, and is now sitting on a loss of $125 million.”
Trump launched WLFI late last year. At the time, he stated the platform was created to help those disenfranchised by banking institutions.
Amid the market downturn, Lookonchain notes that whales are also selling the ETH rival Solana (SOL) by the millions as well, with some unstaking to do so.
“Whales are dumping $SOL! 4W1Ree unstaked 159,028 SOL ($16.5 million) and sold 60,000 SOL ($6.13 million) at $102 4 hours ago. 5cPair sold 89,734 SOL ($9.67 million) at $108 [earlier]…
A whale holding 1.32 million SOL ($192 million) just sold 100,000 SOL ($10.7 million) 30 minutes ago. 15 days ago, the whale unstaked 1.32 million SOL, deposited 1.2M SOL into Kamino, and borrowed 20 million USDC. He likely sold SOL to cover the loan.”
ETH is trading for $1,487 at time of writing, a 2.5% loss on the day while SOL is valued at $106, a fractional decrease during the last 24 hours.
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