The Trump family’s decentralized finance project, World Liberty Financial, has been buying more Ethereum recently.

According to Lookonchain, the project address spent a total of $48 million in USDC to buy 14,403 ETH at $3,333 per coin over the past 12 hours.

The DeFi platform now holds 33,629 ETH worth almost $110 million, which is by far its largest holding, followed by $63 million USDT, according to Arkham Intelligence.

Trumps World Liberty(@worldlibertyfi) continues to buy $ETH, spending a total of 48M $USDC to buy 14,403 $ETH at $3,333 in the past 12 hours.https://t.co/wi54dG9Rok pic.twitter.com/LZCZokB5sT

Trump Bullish on ETH

The move was observed by Ethereum educator and community member Anthony Sassano, who said, “Trump bought around 5,000 ETH today, which brings his total holdings to around 18,700 ETH,” before adding:

“You’re bearish on ETH while the US president continues to increase his stack.”

Ethereum developer Eric Connor also highlighted the President-elect’s Ethereum buying spree.

President Trump just bought $20mn in ETH pic.twitter.com/Ww8tXFrMKd

According to Arkham, Trump’s personal wallet contains 496 ETH worth around $1.62 million, in addition to 483 wrapped ETH and a bunch of meme coins.

The World Liberty Financial project team announced that the token sale had ended on Jan. 20, with a sales target of 20% of the total supply reached. It added that it would offer a further 5 billion WLFI tokens up for sale “Due to massive demand and overwhelming interest.”

The DeFi governance token is not available to trade on exchanges because it is non-transferable and has no economic value, according to the official website.

It was also reported that the Trump family has been buying up Ethereum domain names.

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BREAKING: Donald Trump Family DeFi Project (World Liberty) have just purchased ETHEREUM addresses:

TrumpCoin.eth

World Liberty.eth

EricTrump.eth

BarronTrump.eth

Notice that they bought Trump Coin which could imply my Speculatiev Prophecy may come… pic.twitter.com/t7kRlffsyQ

No Love for ETH Prices

Despite the clearly bullish action of a US presidents crypto project buying Ethereum, there has still been very little momentum on spot markets.

ETH prices are down 5% over the past 12 hours falling from $3,440 to around $3,260 at the time of writing during the Monday morning Asian trading session.

Moreover, the asset has failed to follow Bitcoin and many of the altcoins that rallied last week. ETH has done very little since it last tapped $4,000 in early December and remains lackluster and the target of continued FUD on social media despite the bullish developments.

Additionally, the ETH/BTC ratio fell to its lowest level for almost 4 years over the weekend when it hit 0.030, according to Tradingview.

BREAKING : Ethereum$ETH plunging to its lowest valuation relative to Bitcoin $BTC since March 2021 pic.twitter.com/itvpN9Wyzp

However, Donald Trump’s inauguration today and the performance of crypto derivatives could push ETH prices back toward the $4,000 level, according to analysts.