World Liberty Financial, a project backed by Donald Trump, has recently increased its holdings of Chainlink’s LINK token. According to data, the project purchased an additional $1 million worth of LINK late Thursday, marking the second consecutive day of increasing its LINK stash. This brings World Liberty Financial’s total holdings of LINK to $2 million, in addition to acquiring $246,000 worth of Aave’s AAVE, bringing their total token holdings to $1.2 million.
LINK now stands as the fourth-largest holding in World Liberty Financial’s portfolio, following ether (ETH), bitcoin (BTC), and tether (USDT. World Liberty Financial is a unified platform where users can borrow and lend cryptocurrencies, create liquidity pools, and transact with stablecoins. The platform’s governance token, WLFI, is used to facilitate these operations.
The project relies on data provider Chainlink’s services to better integrate with the wider crypto ecosystem. Chainlink supports World Liberty Financial by providing crucial pricing data and cross-chain interoperability infrastructure. Chainlink’s technology bridges blockchains and off-chain systems, enabling smart contracts to access real-world data, external APIs, and other off-chain resources. LINK tokens are used to compensate node operators for their services in retrieving and preparing off-chain data or performing computations.
Investor demand for LINK tokens is closely tied to the utility and adoption of Chainlink’s oracle services. As a result of the Trump-linked purchases, LINK prices have surged by 22% in the past 7 days and over 130% since World Liberty Financial first onboarded Chainlink. This increase in demand has propelled the token to price levels not seen since early 2021, with LINK nearing $30 in Asian morning hours on Friday.
Additionally, open interest (OI) on LINK’s futures has soared to record highs above $860 million. OI refers to the number of unsettled bets in futures markets, and a rise in prices alongside increasing OI is generally viewed as a bullish sign. It indicates that investors are willing to commit new capital in anticipation of further price appreciation.
Overall, World Liberty Financial’s strategic investments in Chainlink’s LINK token have generated positive market reactions, driving up prices and demonstrating the platform’s confidence in the project’s long-term potential.