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.
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.
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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.