Donald Trump’s cryptocurrency has lost more than $ 3 billion in capitalization

The World Liberty Financial (WLFI) token associated with the Trump family has lost more than $ 3 billion in market capitalization since its debut. Over the past day, it has fallen by more than 14%, and trading volumes have dropped by 38%, indicating a reduction in liquidity.

According to CoinGlass, the open interest in WLFI fell by 11% in 24 hours, and the Long/Short ratio fell to 0.88, reflecting a decrease in growth bets. Overall, since its launch on Monday, the token has fallen by 36% and more than 55% from its peak value of $ 0.46.

At the launch, 24.67 billion WLFI were issued, of which only 4 billion are available for public sale. The remaining 80% remained with the founders and insiders and are subject to unlocking on schedule. Despite the current collapse, it was the debut of WLFI that increased the Trump family’s wealth by $ 5 billion, as related entities own about a quarter of all tokens.

At the time of writing, WLFI was trading at $ 0.1917, down 14.28% over the past day. This value reflects a sharp decline in investor interest after the initial hype.

Thus, WLFI went from being the most high-profile launch of the year to one of the biggest collapses in a few days, casting doubt on the prospects for its further development despite the support of a well-known political family.