World Liberty Financial Moves $8 Million In WBTC To Ethereum

Trump family-linked blockchain project, World Liberty Financial, completed a cryptocurrency transaction, selling 93.77 Wrapped Bitcoin (WBTC), valued at $8.07 million, in exchange for 2,868 Ethereum at a rate of $2,813 per ETH, according to Onchain Len’s X post.

The firm’s move is one of the largest institutional transactions in recent years.

WBTC is a representation of BTC on the Ethereum blockchain through a custodial wrapping process. Each WBTC token maintains a 1:1 peg to Bitcoin, enabling holders of Bitcoin to participate in the Ethereum decentralized finance ecosystem.

Therefore, World Liberty Financial’s move to unwrap WBTC into native ETH represents a strategic shift between two distinct blockchain ecosystems. In this case, the firm has changed its investment focus from Bitcoin to Ethereum.

The recent transaction comes at a time when crypto investors are extra cautious, following a sustained drop from last week. Ethereum recently dropped below the $3,000 psychological support level, trading at $2,892 a.m. EST after a 1.6% drop over the last 24 hours.

BTC is also showing signs of bleakness, dropping 1% to $87,835, as it continues its 5% weekly drop.

ETH Price Pullback A Sign To Buy More

As the ETH price continues to drop, institutions are seeing it as an opportunity to add more amid the buy-the-dip sentiment.

CryptoQuant says whales have been steadily adding to their hoards, a strong signal of confidence in its long-term potential. This could be a sign that investors are taking advantage of the ETF’s price dip, especially as Ethereum continues to trade between $2,600 and $3,000.

Whales are also accumulating, including one individual wallet buying 61,000 ETH, as shown by Onchain Lens in a separate X post.

As a result, the rising Ethereum accumulation could drive its price back up, as more buyers continue to show interest in the token.