The whale is upset by sudden losses after a sudden sale at World Liberty Financial (WLFI), a token linked to the Trump family.
Important takeouts:
- Whales are suffering a major loss as WLFI plummeted more than 40% in its first week.
- The FOMO-driven re-entry soon resulted in a loss of $1.6 million for a single trader’s $915,000 profit.
- Investor sentiment is shaking bears, major owners dump and shorts are profitable.
Despite mid-week attempts to try and burn the token momentum significantly, the WLFI continues its downward slide, with the whales stopping from their currently stopped position.
Blockchain data shows that Whale Wallet 0x432 was a huge hit, losing more than $1.6 million after closing its 3x leveraged long position in WLFI.
The whale wins $915,000 and loses it all to FOMO
According to Onchain Lens, the same investor had previously won $915,000 in previous WLFI deals hours before re-entering the market. “The Moral of the Story: Never Become a FOMO.”
The WLFI team burned 47 million tokens on Wednesday, increasing circulation supply and value. However, this move did not suppress the selling.
According to CoinmarketCap, WLFI has plummeted another 18% in 24 hours from Thursday morning, and is now down 41% since its launch on Monday.
Other large holders are also red. Wallet 854rar, which bought $2 million with WLFI tokens earlier in the week, reportedly fell more than $650,000 by Thursday.
In high lipids, Wallet 0x1527 had an unrealized loss of over $2.2 million in leveraged WLFI position.
However, some traders are profiting from the decline in tokens. Wallet 0x92bb pocketed $1.8 million from the short position and effectively bet on the value of the WLFI.
Even public figures are involved. According to Cointelegraph, Andrew Tate, a supporter of the WLFI voice, was liquidated earlier this week for $67,500 in a long position in liquid.
Investor sentiment took a sudden turn. According to CoinMarketCap, WLFI is currently ranked as the ninth most famous asset among the top 100 cryptocurrencies, with nearly 32% of holders expressing negative sentiment.
Despite attempts to gather support, WLFI’s rapid price drop and whale liquidation cast a long shadow over its short-lived hype.
World Liberty Financial launches WLFI Burn campaign
As reported, the world’s Liberty Financial began burning tokens a few days after its public debut.
The project burned 47 million WLFI tokens on Wednesday and sent them to a verified burn address.
The move is above $0.23 after a temporary trade at $0.331 amid a 31% drop in token value since its launch on Monday.
According to CoinMarketCap, burns are currently 24.666 billion tokens, representing 0.19% of WLFI’s circulating supply, which is about a quarter of the project’s first 100 billion supply.
Meanwhile, the Trump family’s wealth saw a sharp rise of up to $6 billion on Monday after World Liberty Financial’s WLFI token was released.
This debut allowed open market trading for the first time, recording more than $1 billion in volume within the first hour across major exchanges. Prices range between $0.24 and $0.30, consistent with previous futures market activities.
Post whales betting on Trump-linked WLFIs bleed millions when the token plunge first appeared on Cryptonews.
